Who owns MedAccess?
MedAccess is an independent legal entity, but also a wholly owned subsidiary of CDC Group plc – the UK’s development finance institution.
Is MedAccess a charity or a business?
We are not a registered charity. We are a business with a fundamental difference – our main objective is to improve health rather than to make profit.
Do you profit from selling medicines to poor people?
No. We do not sell the medicines directly. Instead, we provide financial assurance to the medical companies that do. The modest fees that we charge suppliers do not make a profit for MedAccess; they simply keep us financially stable.
Why is MedAccess needed?
Too often, life-saving medical supplies are unaffordable or out of stock in the world’s poorest countries. The business risks that manufacturers face bringing their products to under-served markets are typically too high. Where MedAccess makes the difference is in mitigating these risks.
Which diseases/healthcare challenges does MedAccess seek to address?
Our immediate focus is on HIV, TB, Malaria, vaccines and family planning. However, we will explore any disease area where treatment will substantially improve health outcomes in under-served markets.
How does MedAccess do this?
We offer financial guarantees that reduce commercial risks for healthcare suppliers so they can enter new markets. Patients can then get access to the supplies that were previously not available.
What is a price ceiling guarantee?
A contract between MedAccess and a medical supplier that sets out maximum prices in return for assured sales volumes. If actual sales fall below this threshold, MedAccess pays the supplier to make up the difference.
What’s different about MedAccess?
We are building on the pioneering work of organisations that include the Bill and Melinda Gates Foundation and the Clinton Health Access Initiative. MedAccess is neither a philanthropy nor an NGO. We are a financially sustainable business reinvesting income to improve health outcomes. Providing financial guarantees is our only business, so we can work quickly, drawing on our team’s considerable experience.
What regions do you focus on and why?
We focus on Africa and South Asia because more than 80 per cent of the world’s poorest people live in these regions.
What does a ‘healthy market’ in global health mean?
A well-functioning healthcare market with public and private sector participation requires manufacturers to produce high-quality products, distributors to deliver the necessary quantities, providers to administer them correctly, and patients to be educated and active participants in their own health. We promote transparent pricing, complete information, and match-making between supply and demand so that products can get to markets affordably.