Healthtech platform Practo has bolstered its board with two new appointments as it sharpens its focus on AI-driven healthcare solutions.

The company has roped in TVG Krishnamurthy and Alexander Kuruvilla to its board of directors.

The appointments are part of Practo’s efforts to improve health outcomes, while tapping AI, and expanding its footprint. 

Krishnamurthy has previously served in both multinational corporations and domestic enterprises, while  Kuruvilla, formerly Practo’s chief healthcare strategy officer, has been instrumental in establishing and managing hospitals across India, including Narayana Hrudayalaya and Apollo Hospitals Ahmedabad.

“Having witnessed Practo’s impact on healthcare innovation and its commitment to excellence, I’m elated to join this journey. I look forward to collaborating with the board and management team to drive continued value creation and uphold the highest standards of corporate governance,” Krishnamurthy said.

“Practo has always been ahead of its time, setting new standards in the industry. The market opportunity before us is vast, and I am excited to see how we will capitalise on it to drive further growth and innovation,” Kuruvilla added.

Founded in 2008 by Abhinav Lal and Shashank ND, Practo has raised $229.5 Mn across nine funding rounds. The company serves over 40 Cr patients across 22 countries, connecting them with 2.2 lakh doctors and healthcare providers.

The company has been expanding its services beyond appointment booking to include telemedicine, practice management software, and AI-driven tools for doctors. Practo reported generating INR 3,000 Cr of value annually for its ecosystem. In its latest financial update, the company claimed adjusted EBITDA profitability in Q4 FY24 and reported a 22% revenue growth to INR 242 Cr in FY24.

The post With AI Healthcare Play On Card, Practo Makes Two Appointments To Its Board appeared first on Inc42 Media.

Medtech startup Qure.AI has reportedly raised $65 Mn (INR 543 Cr) in a Series D funding round co-led by Lightspeed Venture Partners and 360 ONE Asset Management. 

The round also saw participation from Merck Global Health Innovation Fund and Kae Capital, along with existing investors Novo Holdings, Health Quad and TeamFund. 

As per a Bloomberg report, it plans to use the fresh proceeds to expand in the US and other markets, improve its GenAI foundation models, and fund acquisitions. With this funding, it will focus on developing its AI-based products to aid in disease detection.

This comes a week after Inc42 reported that the startup is looking to raise $50-60 Mn in a funding exercise to be led by Lightspeed.

Founded in 2016 by Prashant Warier, Qure.ai uses artificial intelligence assistance for medical imaging diagnostics. Essentially, it uses AI to detect brain trauma, chest diseases, among others.

The company claimed that its algorithm can detect clinically relevant abnormal trauma from X-rays, CT Scans and MRIs in a fraction of the time that doctors typically take.

The Mumbai-based company is backed by marquee names like Fractal Analytics and Sequoia Capital.

Prashant Warier, Qure.AI’s cofounder and chief executive officer, told Bloomberg that AI is helping overcome healthcare bottlenecks. The technology is increasingly being used in areas such as drug discovery, patient management in hospitals, and surgical robotics.

India’s medtech industry is undergoing a significant transformation driven by digital health adoption, AI integration, and the rise of wearable technology. AI is revolutionising medical diagnostics and treatment, with startups and large firms investing heavily in this space.

For instance, last month, medtech startup SigTuple raised $4 Mn (over INR 33.5 Cr) in an extended Series C funding round led by Sidbi Venture Capital to ramp up its product portfolio and expansion efforts.

In the same month, online healthcare service provider Visit Health secured INR 250 Cr (nearly $29.8 Mn) from PB Fintech’s arm, Docprime Technologies, through a mix of capital infusion and secondary share purchase.

Meanwhile, healthtech unicorn Innovaccer was in talks with the US-based health and insurance major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn, in a mix of primary and secondary capital.

The post Qure Bags $65 Mn To Build AI-Based Products For Disease Detection appeared first on Inc42 Media.

It has been four years since the pandemic swept the world and locked billions inside their homes. Despite the mayhem, the period turned out to be the driving force for the adoption of the internet and the allied digital ecosystem. 

From online grocery deliveries to edtech, the pandemic era put several sectors into the high-growth trajectory. It was also the time during which quick commerce prospered and the edtech ecosystem had its dream run. 

Not to mention, the pandemic exposed major cracks in the country’s healthcare system. However, many saw an opportunity to fix this with technology. As a result, the country saw a significant revamp in India’s healthtech space. 

Such was the optimism that the homegrown healthtech space was being projected to become a $21 Bn market opportunity by 2025, growing from a mere $6.8 Bn in 2020.

Unfortunately, the market appears to have fallen way short of the forecast. While the Indian healthtech space has seen over 11,620 startups emerge since 2014, investors haven’t been too keen on this space. 

According to Inc42’s ‘The State Of Indian Startup Ecosystem Report‘, healthtech startups raised a little over $7 Bn between 2014 and H1 2024 in 886 deals. 

In comparison, the cumulative funding raised by Indian startups during this period crossed the $150 Bn mark across 10,500 deals. While ecommerce emerged as the most funded sector with $34 Bn raised across 1,835 deals, fintech took the second spot with $29 Bn in 1,570 deals.  

Now back to the funding woes of the Indian healthtech paradigm, on a sub-sectoral level, online pharmacy startups led the charts with $1.7 Bn in total funding. Following its lead were fitness and wellness, as well as telemedicine sub-sectors, which cumulatively raised $1.2 Bn in funding in 202 and 186 deals, respectively.  

As per the Inc42 data, healthtech has been investors’ second least favourite sector after logistics. Substantiating this fact is the total number of unicorns in the sector. Notably, the Indian healthtech space fosters a mere eight unicorns, including Tata 1mg, Innovaccer, Pharmeasy, and Pristyn Care. Also, not a single Indian healthtech unicorn has been minted since 2022, when Tata 1mg secured funds at a valuation north of $1 Bn.

On the contrary, while tracing the Indian healthtech funding trends, we observed that investments in the space saw a steep jump during the pandemic. Healthtech funding surged 4.8X from $456 Mn in 2020 to $2.19 Bn in 2021. It is also imperative to mention that the Indian healthtech sector netted a mere $3 Bn in funding between 2014 and 2020.  

Post the pandemic boom, funding numbers dipped by 19% CAGR every year between 2022-H1 2024. Such was the impact of the capital drought that many startups have had to shut shop.

Most recently, insurtech startup Kenko Health shut down after five years, despite raising $13.7 Mn. Startups like DayTwo, Nintee, and ConnectedH, too, have called it quits in recent times. More interestingly, PharmEasy, one of the biggest names in the space, had to cut its valuation by 90% to secure $216.2 Mn in a rights issue earlier in April this year. 

Industry experts see several reasons for this funding turmoil. First, India is a trust-based society when it comes to healthcare, which raises the bar for tech startups and their innovations. Additionally, the market is already dominated by larger, more established players, making it tough for new entrants to survive. Adding insult to injury is the fact that the healthtech business is highly capital-intensive and doesn’t always guarantee significant returns.

Funding Revival For Healthtech On The Cards?

Despite investors’ cautious stance, the recent uptick in funding numbers has brought some optimism to the sector. For context, cumulative funding secured by healthtech startups jumped 2.8X to $460 Mn in the first half (H1) of 2024 from $120 Mn raised in H1 2023. 

This uptick came primarily due to PharmEasy’s downround. With this, funding secured at the late stage jumped to $296 Mn from $44 Mn in H1 2023. Besides, there was also a 35% year-on-year (YoY) uptick in healthtech growth stage funding in the first half of 2024, which stood at $138 Mn. 

As per Bharat Founders Fund’s partner Maanav Sagar, the emergence of healthtech startups with scalable businesses, as well as the improving infrastructure, will drive the change. 

“Also, with the government’s initiatives like the National Health Stack (Ayushman Bharat), there’s potential for a similar ecosystem shift to what we witnessed with UPI in the fintech sector. As these initiatives unfold, we can expect a more supportive environment for healthtech startups, which could lead to increased funding and growth opportunities in the near future,” he said. 

All in all, investors estimate healthtech funding to gain momentum in the coming quarters, as they continue to bet big on new innovations to solve specific Indian healthcare issues. 

[Edited by: Vinaykumar Rai & Shishir Parasher]

The post Just $7 Bn In Funding Since 2014: India’s Healthtech Sector Ready For A Reboot appeared first on Inc42 Media.

With rapid digitalisation and automation pushing the growth of the medtech industry, Qure.ai, Mumbai-based startup in this space is reportedly seeking to raise around $50-60 Mn in a funding exercise to be led by Lightspeed.

As per ET’s report, the infusion will likely include a secondary deal, along with existing investors who will be putting in primary capital.

The investment will close by this month once it is finalised, a source was quoted as saying in the report.

Inc42 has reached out to Qure.ai as well as Lightspeed for comments on the development. The story will be updated based on their responses.

“Lightspeed is investing around $20-25 Mn and is looking to buy some in secondary shares also. Overall, the round may end up being $50-60 Mn in size depending on the final secondary component,” the report added.

Founded in 2016 by Prashant Warier, Qure.ai uses artificial intelligence assistance for medical imaging diagnostics. Essentially, it uses AI to detect brain trauma, chest diseases, among others.

The company claimed that its algorithm can detect clinically relevant abnormal trauma from X-rays, CT Scans and MRIs in a fraction of the time that doctors typically take.

The Mumbai-based company is backed by marquee names like Fractal Analytics and Sequoia Capital.

The investment comes at a time when investors are pumped by the growing interests of AI adoption in the pharma sector.

Joining the trail of raising capital through secondary funding spread across various business sectors, healthtech companies have also been seeing a few investments.

For instance, healthtech unicorn Innovaccer was in talks with the US-based health and insurance major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn, in a mix of primary and secondary capital.

Previously, Qure.ai raised $40 Mn in a strategic funding round led by Novo Holdings and HealthQuad to expand its global reach, especially across US and Europe, as well as ramp up product development in the domains of critical care and community diagnostics, in March 2022.

The post Qure.ai Eyes Up To $60 Mn Funding To Push Its Radiology Diagnosis Play appeared first on Inc42 Media.

Big data integration has revolutionised the healthcare industry in recent years, presenting new opportunities to customise care and enhance patient outcomes. The phrase “big data in healthcare” describes the gathering and examination of enormous datasets, such as those from genetics, electronic health records (EHRs), pharmaceutical prescriptions, imaging, and insurance information.

In addition, real-time data from smartphones, wearable technology, and Internet of Things (IoT) devices has increased the potential even further. The objective is quite clear: minimise medical errors while lowering expenses, increasing efficiency, and improving the quality of healthcare.

From Reactive To Preventive Care

The field of diagnostics is one where big data is creating the biggest impact. The sheer amount of medical data that is currently accessible, such as genetic data, lab results, and EHRs, enables quicker and more precise diagnosis. 

Advanced analytics and machine learning algorithms can sort through this data and find patterns that the human eye might overlook. When diseases like cancer are detected early, treatments can be implemented at their most effective time. Thus, patients have better odds of recovering, fewer problems, and better prognosis.

Healthcare is increasingly moving toward a preventive model, thanks to predictive analytics. By analysing trends across large datasets, healthcare professionals can identify individuals at high risk of developing certain conditions and intervene before symptoms escalate. 

For example, patients with early warning signs of heart disease or diabetes can be flagged for preventive measures, such as lifestyle changes or medications. This shift from reactive to preventive care not only improves health outcomes but also reduces the financial and logistical strain on healthcare systems by avoiding the costs associated with treating advanced stages of diseases.

Personalised Treatment Via Enhanced Health Monitoring

Patient monitoring has undergone many significant changes as a result of the combination of wearables, sensors, and mobile health applications. Healthcare practitioners can receive data immediately from devices that track blood pressure, glucose levels, heart rate, and other parameters in real time. Proactive treatments are made possible by this real-time data, which lowers the need for re-admissions to the hospital and enhances patient outcomes.

For instance, doctors can watch a patient recuperating after surgery from a distance, which enables them to identify issues early on without the patient having to come into the hospital. Patients who live in rural locations or have restricted access to medical services may especially benefit from this.

Healthcare professionals can develop individualised treatment plans that are updated in real time using patient data by using data analysis. Artificial intelligence (AI) models are capable of analysing test findings, vital signs, and even facial expressions to provide clinicians with exact treatment recommendations and actionable insights. With this dynamic method, medicines are always tailored to the specific patient, improving results and minimising unwanted effects.

A Lifeline For Chronic Disease Management

Chronic diseases including diabetes, high blood pressure, and heart disease are long-term issues that need constant attention and care. In addition to their widespread occurrence, these illnesses can induce complications and hospital readmissions when left untreated, which contribute significantly to global healthcare expenses. But thanks to big data’s potential, chronic illness management is changing, improving patient care while cutting expenses.

Big data is powerful because it can anticipate problems and take action before they arise. Healthcare providers can spot early indicators of a possible health catastrophe by looking for patterns in a patient’s data. For instance, persistently high blood pressure readings in hypertensive patients may indicate a higher risk of heart attack or stroke.

Physicians can use this information to plan emergency procedures, suggest lifestyle modifications, and modify medicine before the patient’s condition gets worse.

This preventative strategy lowers the risk of hospitalisations and emergency visits in addition to the possibility of life-threatening consequences. Consequently, this enhances the patient’s standard of living and lessens the financial strain on the healthcare system and the patient.

Empowering Patients, One Stat At A Time

Big data is not only changing the way doctors treat long-term illnesses, but it is also giving patients more authority to manage their own health. People can better manage their medications, track symptoms, and keep an eye on their own vital signs when they have access to wearable technology, smartphone health applications, and online patient portals.

Patients can make well-informed decisions about their daily routines, including nutrition, exercise, and medication adherence, with the assistance of these technologies, which offer real-time feedback and practical insights. 

Improved self-management results in better health outcomes, fewer hospital visits, and an overall higher quality of life for individuals with chronic illnesses by encouraging a greater sense of self-awareness and responsibility.

The Way Forward For Data-Driven Healthcare

Big data is transforming healthcare by making it possible to provide more proactive, efficient, and individualised care. The incorporation of large datasets into healthcare systems is creating new opportunities for resource optimisation and patient outcome improvement, ranging from precision medicine to predictive analytics.

Notwithstanding, several obstacles persist, including worries about data privacy, difficulties with integration, and guaranteeing fair access to new technologies. The future of individualised treatment will surely be greatly influenced by the power of data as the healthcare sector continues to change.

The adventure is only getting started, but the potential is enormous. In order to guarantee that every patient reaps the rewards of big data and precision medicine, the healthcare industry must embrace this transition.

The post Analysing The Power Of Data In Transforming Personalised Healthcare appeared first on Inc42 Media.

Turning 30 is scary, yet it marks a significant transition in any person’s life — from a more impulsive and reckless youth to a responsible adulthood. While for many it is a time of reflection, growth, and newfound maturity, for childhood friends Dipalie Bajaj and Nidhi Panchmal, turning 30 was a ticking clock, with family demanding they get married and have kids before it was too late.

The irony? They had spent years hearing stories of other women grappling with the same pressures but could hardly relate until they found themselves in those same shoes.

It was probably time for the friends to sit and have a chat, but little did they know that a general tête-à-tête between the two old friends would have a snowball effect so massive that, in just a few years, they would be playing a key role in addressing the complex, often unspoken drama around infertility in the country.

Years later, the duo of childhood friends are the cofounders of Arva Health, a Bengaluru-based femtech startup founded in May 2022. Currently, the fertility-care startup offers a range of services, including fertility assessments, education, advanced treatments, egg-freezing consultations, and PCOS care.   

On the technological front, the company currently runs a website and an app, which helps users also gain access to live Q&As with experts, and 24/7 support from counsellors, doctors, and health coaches. Additionally, it assists with fertility treatments like egg freezing, IVF, and IUI. 

Arva Health operates in major cities like Mumbai, Delhi and Bengaluru, as well as some remote areas of Madhya Pradesh and Rajasthan. The startup’s larger aim is to raise India’s awareness when it comes to fertility issues among men and women. 

According to the cofounder duo, the startup’s revenues have seen a 680% rise since its inception, with a steady monthly growth of 38%. It has already helped over 2,000 women.

Arva Health — A Startup That Wasn’t On The Cards 

Peeved by the family pressure to get married and tired of listening to how their body clocks are ticking, the childhood friends decided to venture out to understand the extent of the infertility problem they would have if they delayed getting married.

At the time, both of them were working professionals. While Bajaj was working as a UX designer, Panchmal was a practising CA.

With zilch knowledge in the medical field, both Bajaj and Panchmal started visiting IVF and gynaecology clinics to seek answers to their long list of queries related to infertility and slowing fertility clocks. During this time, they also got the opportunity to speak with several women. They found themselves in the midst of heartbreaking stories of women who wanted to start their families but couldn’t due to reasons unknown.   

“From how much time one has before the body loses its fertility to why a couple is not getting pregnant, there are several questions that shroud individuals on their family way. What came as a shocker to us was that there were not many reliable places, and we couldn’t just sit around and do nothing about it,” Bajaj said, adding that thus began their mission to help women and couples with fertility problems, advanced treatments, and PCOS care. 

“There was no initial plan to build Arva. We began Arva’s journey with a pilot in 2022 to validate the actual problems women were facing. We listened to women and their problems, and as we gathered information, we kept refining our approach, which led us to where we are now,” Bajaj said.

While the startup was founded in 2022, but it officially initiated operations in 2023 with a pilot project to build their presence on social media first, which helped them spark discussions around fertility. 

The cofounders decided that the only way consumers can relate to the brand is by a founder-led approach, so they focussed on showing up personally, with all their content being delivered directly by either Bajaj or Panchmal. 

The cofounders use social media as an educational tool to address various topics and struggles related to fertility. To this date, social media plays a crucial role for the brand, which currently has 15.4K followers on Instagram. 

As per Panchmal, the strategy proved effective, as within the first month of launching their content, they went viral. 

“The brand’s educational positioning and our personal involvement resonated with many, leading to millions of views on some of our videos. We spoke about fertility as a natural aspect of life rather than a disease or something inherently wrong, which contributed to the widespread engagement with our content,” the cofounder said.

From there, the cofounders transitioned to forming a medical panel, as neither had a medical background.

This panel, which was envisioned to focus on ensuring a holistic approach to fertility care, comprised gynaecologists, reproductive endocrinologists, fertility specialists, and a functional medicine doctor from India and abroad.

From there, it was pretty much a natural transition to Arva Health, which the cofounders started with the launch of a fertility test in January 2024. The next thing on the cards was to provide consultations, which started in March of the same year.

Based on customer feedback, the cofounders introduced additional services, including in-house fertility counsellors to guide and educate clients throughout their journey, expert consultations with fertility specialists, and fertility coaching for those trying to conceive naturally. 

The startup has also established partnerships with select clinics for advanced treatments like egg freezing and IVF. Besides, it enjoys partnerships with a range of diagnostic centres, including Thyrocare, Redcliffe, Orange Health, Tata 1MG, and Healthians. The startup is accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).

Opportunities & Challenges Ahead For Arva Health 

While the startup’s biggest strength lies in its online-first approach, this also presents a big challenge. This is because certain services, like basic ultrasounds and egg freezing, require offline presence. Consequently, the startup plans to foster an omnichannel approach rather than remaining solely digital. 

According to Bajaj, their business has predominantly been online for the past eight months, except when referring clients to partner clinics for fertility treatments. 

“In the next phase of our journey, while we will maintain our online services, as they make fertility care more accessible to working women, we will also expand offline to enable more direct service delivery,” Bajaj said. 

In addition, the cofounders said, the startup will expand its presence on the ground. Currently, the startup works with partner clinics in Bengaluru and Mumbai, but it plans to launch its own fertility centres this fiscal only.

“Besides this, we will be expanding into men’s vertical in FY25, so that it’s more about family building rather than just about women,” the cofounders said, adding that the startup will garner up to INR 5 Cr in FY25 revenues, which will be officially the first full financial year for the brand. 

In India, the tide of IVF treatments is on the rise, and the market is projected to breach the $5 Bn mark by 2033. Supporting this growth is a growing middle class and rising disposable incomes.

Also, an increasing number of millennials today want to delay the pleasure of parenthood due to the rising cut throat in the job market, falling savings, and expensive healthcare and education. Amid the current scheme of things, startups like Arva offer options like egg freezing, which gives new-age couples the freedom to delay family planning by a few years.

However, high treatment costs remain a significant barrier, especially for couples in rural areas. More affordable options and wider insurance coverage are needed to make fertility care accessible. In addition, the industry faces complex regulatory challenges, particularly around the ethical aspects of assisted reproductive technologies (ART), requiring providers to balance international standards with local regulations.

Also, while awareness is increasing, the stigma surrounding infertility, particularly for men, continues to hinder timely treatment and affect the mental health of those undergoing care.

Therefore, the need of the hour is to normalise conversations around fertility. “We want fertility to be as normal as discussing a skincare routine, but there’s a lot to be done,” the cofounders concluded.

[Edited by Shishir Parasher]

The post This Startup Is On A Mission To Transform India’s Fertility Care Landscape appeared first on Inc42 Media.

Mumbai-based B2B healthcare supply chain startup Medikabazaar has roped in medtech industry veteran Dinesh Lodha as its new Group CEO.

In his new role, Lodha will lead Medikabazaar’s growth targets, international expansion and drive profitability. He will oversee the Indian market while strengthening the company’s product portfolio and operations. 

With over two decades of experience, he served with medical devices maker TI Medical and knitwear brand Rupa And Company Limited as group CEO. Prior to that, he was the group CEO at Healthium Medtech and country head for South Asia at Samsung’s HME Division, according to his LinkedIn profile. 

Lodha also held multiple positions at GE Healthcare, including director of sales for South Asia and regional vice president of sales.

Lodha’s experience in B2B and B2C operations across FMCG and healthcare sectors is expected to steer Medikabazaar through its next growth phase as it looks to raise $250-300 Mn to tap into the overseas markets, the company said in a statement.

The company is also looking to target markets such as Dubai, Singapore and China, while also considering strategic acquisitions, it added.

“Lodha’s proven leadership and track record in the medtech industry perfectly align with the company’s vision to innovate and expand,” a company spokesperson said.

Founded in 2015 by Vivek Tiwari and Ketan Malkan, Medikabazaar offers over 4 Lakh products and serves more than 10,000 medical centres and 30,000 independent doctors and clinics across India. 

The company’s product offerings include a B2B marketplace, an AI-ML-powered SaaS solution, a medical financing solution, and an asset management platform for equipment business.

This comes weeks after Medikabazaar underwent a management restructuring with the company’s cofounder Vivek Tiwari stepping down as chief executive officer and taking a board role. 

The startup reported a net loss of INR 20.8 Cr in FY22 as against a net profit of INR 61 Lakh in FY21. 

Though the startup reported loss in FY22, revenue from operations jumped over 3X or 175% to INR 1,552.5 Cr from INR 564.7 Cr in FY21.

Medikabazaar has raised a total of $191.94 Mn across six funding rounds and the last round was raised on April 12, 2022, as per Inc42’s data.

The post Medikabazaar Ropes In Former Healthium Medtech Executive As CEO appeared first on Inc42 Media.

Medtech startup SigTuple has raised $4 Mn (over INR 33.5 Cr) in an extended series C funding round led by Sidbi Venture Capital.

As per ET’s report, the round also saw participation from its existing investors, including Endiya Partners, among others.

The report said the company is planning to deploy the newly raised funds to expand its geographical footprint, broaden product portfolio and support regulatory clearances.

Inc42 has reached out to SigTuple for comments on the development. The story will be updated based on the response.

Founded in 2015 by Apurv Anand, Bharath Cheluvaraju, Rohit Kumar Pandey and Tathagato Dastidar, SigTuple makes AI-driven smart robotic microscopes to automate the manual process in clinical laboratories.

The medtech company is backed by Accel Partners, Chiratae Ventures, Endiya Partners, pi Ventures, Venture Highway, and a few others.

Prior to the current round of funding, the Bengaluru-based medtech company raised $4.3 Mn in a fresh funding round led by its existing investors Endiya Partners and Accel to expand its geographical footprint and product portfolio, over a year ago.

SigTuple also has plans to enter the point-of-care (PoC) market in the following year, to leverage into microfluidic technology and imaging to conduct essential tests within minutes, the report said.

Healthtech companies have been in the race of expanding their operations to new locations and have consistently made efforts to raise funds this year.

Earlier today, online healthcare service provider Visit Health secured INR 250 Cr (nearly $29.8 Mn) from PB Fintech’s arm Docprime Technologies in a mix of capital infusion and secondary purchase of shares.

The post Medtech Startup SigTuple Nets $4 Mn To Ramp Up Product Portfolio, Expansion appeared first on Inc42 Media.

Online healthcare service provider Visit Health has secured more than INR 250 Cr (about $29.8 Mn) in a mix of capital infusion from various investors and secondary purchase of stake in the company held by PB Fintech’s arm Docprime Technologies.

The secondary transaction also saw participation from Visit Health’s founders and ESOP buybacks as well. However, the company did not disclose the name of the investors participating in the current round.

The healthtech company is planning to deploy its funds to expand its business operations, including partnership with technology service provider for healthcare professionals TatvaCare.

The collaboration with TatvaCare will leverage capabilities of both companies and maximise their reach in the healthcare sector, the company said in a statement.

Founded in 2016 by Singh, Anurag Prasad, Chetan Anand and Shashvat Tripathi, Visit Health offers online consultations with physicians and other medical specialists. Apart from that, the company also engages with its users to provide diet and wellness coaching on its platform.

“This investment is a testament to the value and impact of our platform. With the strengthened partnership with TatvaCare, we are poised to expand our cashless network, services and enhance our commitment to delivering accessible, high-quality healthcare to everyone,” cofounder and managing director Vaibhav Singh said.

Visit Health also said that with the new investment and strengthened partnership with TatvaCare, it is set to provide accessible, cost-effective, and quality healthcare.

This comes weeks after Abhay HealthTech, which offers various home diagnostics and rapid testing kits, roped in Indian actor Vindu Dara Singh as an investor without disclosing the financial terms of the deal.

The post Visit Health Bags Over INR 250 Cr To Boost Its Healthcare Play appeared first on Inc42 Media.

India’s healthcare system is experiencing a financial crisis. A NITI Aayog report revealed that Indians paid over $72 Bn out-of-pocket for healthcare expenses, making out-of-pocket expenditure (OoPE) one of the largest financial burdens for Indian households. 

This high expense frequently pushes families into debt and poverty. Unlike consumer goods, where financing options like “no-cost EMIs” are easily available, healthcare financing has been left behind. This disparity leaves many patients deferring essential treatments due to a lack of financial resources, aggravating health issues and increasing long-term medical costs.

In India, people often rely on savings, loans from friends and family, or high-interest loans to cover the costs of healthcare. Some customers have access to credit cards as a potential solution. However, many are deterred by the high interest rates and fees associated with them, compounded by the requirement to repay credit card expenditures within a 30–45-day window. 

There is an urgent need to fill the gap in healthcare finance choices by making them more accessible and affordable.

Benefits Of BNPL For Healthcare Consumers

With the rise of Buy Now, Pay Later (BNPL) services or affordability financing, a game-changing option has emerged to close this gap. BNPL provides a more convenient and easier alternative for people to pay for their medical bills, without requiring a good credit score or paying excessive interest rates. Lenders have integrated with healthcare providers to build subjection trades providing zero interest models for end consumers. A few of the main advantages are as follows:

Zero Percent Interest Rate Financing: One of the most attractive features of BNPL in healthcare is the 0% interest rate. This makes healthcare financing more affordable, removing the financial strain associated with high-interest credit card payments.

Improved Access To Healthcare: By spreading the cost of treatment over a series of instalments, BNPL allows more patients to access necessary medical services without the need to defer care due to immediate financial constraints. This can lead to earlier diagnosis and treatment, improving overall health outcomes. Players in this sector are now capable of providing up to Rs.10 lakh to patients and families for healthcare treatments.

Increased Financial Flexibility: Patients can manage their finances better with BNPL, avoiding the need to dip into savings or take out high-interest loans. This financial flexibility is crucial in a country where a significant portion of the population lacks health insurance or sufficient coverage, bridging the gap between insurance provisions and treatment costs. 

Enhanced Patient Experience: BNPL services can significantly enhance the patient experience by reducing the stress and anxiety associated with large medical expenses. This peace of mind can positively impact recovery and overall well-being.

Future Trends In The BNPL Healthcare Space

The future of BNPL in healthcare looks promising, with several trends indicating continued growth and innovation:

Integration With Embedded Finance: Embedded finance, which integrates financial services into non-financial platforms, is set to transform healthcare transactions. By embedding BNPL options directly within healthcare providers’ payment systems, the process becomes seamless for patients, enhancing accessibility and convenience.

Regulatory Evolution: As BNPL services grow, regulatory frameworks will evolve to ensure consumer protection and the sustainability of the business model. This could lead to more standardised practices and increased trust in BNPL options among consumers.

Technological Advancements: Advances in technology, particularly in fintech, will drive innovation in BNPL services. Enhanced data analytics and AI can improve credit risk assessments, personalise financing options and streamline the approval process, making BNPL more efficient and user-friendly.

Increased Adoption By Healthcare Providers: As the benefits of BNPL become more apparent, more healthcare providers are likely to adopt these services. This adoption will be driven by the dual advantages of increased patient satisfaction and higher revenue from treatments that might otherwise be postponed or foregone.

Expansion Into Rural and Underserved Areas: BNPL has the potential to significantly impact rural and less fortunate populations by providing financial solutions where traditional credit systems are less prevalent. This can democratise access to healthcare, ensuring that more people receive timely and adequate medical care.

Conclusion

There has been a sea change in the way healthcare is funded in India and it all started with BNPL services. A major issue in healthcare is affordability, which BNPL aims to solve by providing zero-interest financing options. In the future, BNPL will play a crucial role in healthcare financing, caused by the developments in embedded finance, legislative backing and technology breakthroughs. 

While this change guarantees improved health results and a more equal healthcare system, it also increases the financial burden on patients. It has the potential to completely transform healthcare availability and cost as it gains momentum, bringing better medical care to more people in India. 

The post How Affordability Financing Is Reshaping Access To Healthcare In India appeared first on Inc42 Media.

PharmEasy-owned diagnostics platform Thyrocare Technologies is acquiring the pathology diagnostic business of Polo Labs to expand its presence in northern India.

In a statement, Thyrocare said it has entered into an agreement to acquire the Punjab-based pathology laboratories’ business. However, it didn’t disclose the deal value.

Polo Labs operates 14 laboratories across Punjab, Haryana, and Himachal Pradesh.

The PharmEasy-owned diagnostics platform said that the acquisition will expand its reach in the northern parts of India and further solidify its position as a dominant player in the Indian diagnostic industry.

“This strategic acquisition will enhance our diagnostic capabilities and service offerings, leveraging Polo Labs’ existing widespread network in North India. We are committed to a seamless integration and look forward to the growth and innovation this acquisition will bring,” said Rahul Guha, MD and chief executive of Thyrocare and president of API Holdings.

This is the second acquisition by Thyrocare. Earlier this year, it acquired a 100% stake in Chennai-based Think Health Diagnostics and a related party to offer ECG services at home

PharmEasy acquired Thyrocare, founded in 1996 by Arokiaswamy Velumani, in 2021.

Earlier this week, Thyrocare reported a 35% increase in profit after tax to INR 23.5 Cr in Q1 FY25 from INR 17.4 Cr in the same quarter of the previous fiscal. Revenue from operations surged 16.3% to INR 156.9 Cr during the June quarter from INR 134.9 Cr in Q1 FY24.

Meanwhile, PharmEasy is facing multiple troubles, including rising losses, valuation markdowns, funding woes, and mass layoffs. Earlier this year, the digital pharmacy raised INR 1,804 Cr ($216.2 Mn) at a 90% valuation cut.

PharmEasy’s net loss widened 31% to INR 5,211.7 Cr in FY23 from INR 3,992.4 Cr in the previous fiscal year. The unicorn’s operating revenue jumped 16% to INR INR 6,643.9 Cr during the year from INR 5,728.8 Cr in FY22.

The post PharmEasy-Owned Thyrocare To Acquire Pathology Diagnostic Business Of Polo Labs appeared first on Inc42 Media.

Fitness unicorn Cult.fit has rolled out a smartwatch,Sprint, for runners and fitness enthusiasts to boost their workout experience.

The watch’s offering includes features like tracking multiple sports modes, providing guided breathing exercises and female health tracking. Besides, it offers bluetooth calling and precise geo-positioning through its GPS technology, the company said in a statement.

“The watch ensures accurate data tracking for all your running, walking, and cycling activities,” it added.

Cult.fit’s business head Abhilash Panda, said, “With its advanced GPS technology and premium design, the Sprint is more than just a smartwatch—it’s a reliable companion for your fitness journey.”

This development comes just over four months after Cult.fit raised  INR 84.5 Cr (about $10.2 Mn) in its series F funding round backed by investors like Valecha Investments, Extreme Brands LLP, L&K Wellness Services Private Limited, among several others.

This marks Cult.fit’s total funding raised at $ 670 Mn across multiple rounds to date. Not to mention, it also counts Zomato, Temasek, and Kalaari Capital among its investors. 

Earlier in January, Inc42 reported that Cult.fit underwent a restructuring exercise wherein it laid off about 120 employees, impacting the workforce across its sub-brands such as Sugar.fit, Carefit, and Cult.fit.

Besides, the startup also made a reshuffle in April as its cofounder and former CEO Mukesh Bansal was appointed as the new executive chairman and its head of fitness services Naresh Krishnaswamy was elevated as the new chief executive officer. 

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit offers a range of fitness services including offline group workouts at Cult.fit centres and other gym- or equipment-based workouts at partner gyms and fitness centres across the country. 

On the financial front, Cult.fit’s operating revenue grew 3X year-on-year to INR 694 Cr in FY23  from INR 216 Cr in FY22. Its loss narrowed to INR 551 Cr for the same period. 

The post Zomato-Backed Cult.fit Rolls Out Smartwatch For Runners To Track Accurate Data During Workouts appeared first on Inc42 Media.

Earlier this year, we reported how the Indian healthcare sector was poised for a complete makeover with the advent of GenAI. From lab assistance and clinical diagnosis to health monitoring and drug discovery, hardly anything falls outside the ambit of this emerging technology today.

In fact, the technology has now seamlessly seeped into the realm of medicine and antibody discovery to combat some of the most gruesome diseases known to mankind. 

However, given that the tech is in its nascent stages, we have yet to make major headways towards making the use of this tech cost-effective and more agile. Any move in this direction will prove to be pivotal, as it typically takes more than a decade and billions of dollars in investments to discover a new drug and then bring it to market.   

It is this paradigm that Bengaluru-based startup immunitoAI aspires to disrupt. Founded by Aridni Shah and Trisha Chatterjee in 2020, the biotech startup is using artificial intelligence (AI) to expedite antibody discovery and reduce its cost.

Operating in a market expected to reach $13.21 Bn by 2028 on the back of increased investment in drug discovery and demand for precision therapeutics, the startup uses AI to design novel antibodies from scratch. In the process, the founders remain laser-focused on reducing drug discovery time from an average of 4-5 years to 11-12 months. In September 2020, immunitoAI secured $1 Mn in seed funding led by pi Ventures.

immunito’s Inception Saga

The startup’s story began in 2020 with Entrepreneur First’s (EF) talent program, which brought Shah and Chatterjee together, as they shared a common goal of changing how drugs are discovered. This eventually paved the way for the incorporation of immunitoAI.

“EF’s program provided the platform for us to meet and combine our expertise,” Chatterjee said.

However, the path ahead presents significant challenges, and the biggest one amongst the spectrum was scepticism of the industry and investors towards AI applications in the field of biology. 

The biotech industry’s history of unfulfilled promises, and there are several of them, has bred scepticism towards AI in healthcare. Shah noted, “In biology, AI has unfortunately been misused. Many have made humongous claims and have not delivered. Hence, people are sceptical to accept AI-based solutions in biology.”

immunitoAI faces the challenge of proving its AI-driven approach can truly accelerate antibody discovery while maintaining scientific rigour. The founders’ combined expertise in biology and computer science has been crucial in addressing these concerns. 

Nevertheless, as per Chatterjee, immunitoAI treads differently as compared to traditional antibody discovery companies that follow the standard operating procedures of injecting target proteins into animals to produce antibodies. Chatterjee added that this popular practice can take years and doesn’t guarantee effective drug candidates.

Speaking about the startup’s AI tech stack, the cofounder said that the immunitoAI platform comprises two main arms: imDESIGN and imRANK. 

She elaborated that while imDESIGN utilises generative AI models to create new antibody designs from scratch, imRANK then evaluates these designs, predicting how well they might bind to their targets and ranking them based on various parameters.

The platform employs deep learning algorithms trained on experimental data from protein databases. In addition, it uses graph neural networks to represent the 3D structure of proteins and transformer models to generate antibody sequences.

“Our AI models work at the atomic level, analysing the interactions between individual atoms in the antibody and target protein. This allows for a more precise prediction of binding affinity and potential drug properties,” Chatterjee further explained. 

Although in the testing phase, immunitoAI has achieved 90-95% accuracy in generating biologically viable antibody sequences. 

“Currently, we’re focused on improving the binding affinity of antibodies to their targets. Our next step is to benchmark our antibody designs against existing ones. We’ll select a target with a known antibody in the market and generate our own version. This will allow us to compare the development timelines and efficacy,” the cofounder said.

Apart from this, the startup plans to conduct laboratory experiments to validate its AI-generated antibodies. This includes synthesising the antibodies and testing their binding properties and stability in real-world conditions.

What’s Ahead For immunitoAI

Currently, immunitoAI has plans to collaborate with pharmaceutical companies to design antibodies aimed at specific diseases. Once the startup develops promising antibody candidates, it plans to licence them to pharmaceutical companies for further development and clinical trials.

“We’re in discussions with several top pharmaceutical companies. They’re interested in our ability to potentially reduce the time and cost of the initial drug discovery phase,” Chatterjee said.

The startup is also in the process of protecting its intellectual property. Looking ahead, immunitoAI is preparing for future funding rounds. 

Meanwhile, companies like immunitoAI seem to be growing in the world’s third-largest startup ecosystem. In March this year, we extensively talked about a similar startup, Boltzmann, which, too, harnesses GenAI to facilitate drug discovery and enhance the success rates of clinical trials.

Boltzmann uses both open-source and proprietary models to design novel drugs and optimise R&D processes for Indian drug manufacturers. Alongside this, Boltzmann’s technology stack includes four platforms that aid in clinical trials, disease diagnosis, and the design and discovery of vaccines and antibodies.

As per a report, the Indian market for AI in drug discovery is projected to surpass INR 2.57 Lakh Cr by 2028. For now, it will be interesting to see how immunitoAI changes the drug discovery game in the country going ahead.

The post How immunitoAI Is Changing The Rule Of Antibody Discovery With Its AI Stack appeared first on Inc42 Media.

Peak XV Partners-backed healthtech startup MedGenome has acquired a stake in Odisha-based diagnostics lab chain GenX Diagnostics to strengthen its footprint in the eastern region of the country. 

In a statement, MedGenome said that the two companies will leverage their combined expertise to deliver superior healthcare services by providing access to a variety of diagnostic and genomic solutions. 

However, the statement didn’t disclose the acquisition cost or the amount of stake acquired in GenX Diagnostics. 

Founded in 2017 by Dr. Biswajit Mohanty and Dr. Bikash Agarwal, GenX Diagnostics provides genetic and molecular testing services. It has seven diagnostic centres and 60 collection centres across Odisha.

Commenting on the development, MedGenome CEO Dr. Vedam Ramprasad said, “This acquisition further aims to expand our network in Tier-II & III cities in India by driving deeper penetration, new market development, and bringing new tests to the market.”

This is the second acquisition by MedGenome in the last year or so. In May last year, the startup acquired Delhi NCR-based diagnostics lab Prognosis Laboratories to expand its geographical presence.

Founded by Mahesh Pratapneni and Sam Santhosh in 2013, MedGenome offers over 1,300 genetic tests across major disease categories such as oncology, inherited diseases, reproductive diseases and infectious diseases.

The startup also offers tests in the preventive wellness category via its direct-to-consumer (D2C) arm, Genessense.

MedGenome claims to have conducted over 6 Lakh genetic tests through a network of over 5,000 hospitals and more than 15,000 clinicians across India so far. It also claims to have a presence in international markets such as the US, Singapore and Africa.

The startup competes with the likes of MapMyGenome and Positive Bioscience in India. It counts LeapFrog Investments,  Novo Holdings, Sofina, Emerge Ventures, Zodius Capital and International Finance Corporation among its backers.

In 2022, MedGenome secured $50 Mn in a strategic funding round led by Novo Holdings. As per Inc42 data, the startup has raised more than $185 Mn to date. 

As per Inc42’s analysis, India’s healthtech market is projected to reach a size of $21.3 Bn by 2025.

The post MedGenome Acquires Stake In GenX Diagnostics To Strengthen Presence In East India appeared first on Inc42 Media.

Mumbai-based B2B healthcare supply chain startup Medikabazaar is reportedly undergoing a management restructuring with the company’s cofounder Vivek Tiwari stepping down as chief executive officer and taking a board role.

As per ET’s report, Medikabazaar’s board is currently finalising a new CEO.

“In addition, the board has also initiated plans to bring a new CEO into the business with experience of managing large scale businesses,” the report quoted a company spokesperson as saying.

It further added that the company is undergoing an audit by accounting firm PwC. The audit is in the final stages and is believed to have found discrepancies in the company’s revenue recognition process, among other issues.

The spokesperson further said the company has pulled in a senior professional management team to support the business. It added that the board was made aware of certain irregularities concerning the business and operations of the company, and with the support of its investors, it carried out an external review.

The startup reported a net loss of INR 20.8 Cr in FY22 as against a net profit of INR 61 Lakh in FY21. 

Though the startup reported loss in FY22, revenue from operations jumped over 3X or 175% to INR 1,552.5 Cr from INR 564.7 Cr in FY21.

Tiwari founded the company along with Ketan Malkan in 2014. Since the inception of Medikabazaar, he has been the chief executive and has been leading the company. Prior to that, he served as chief operating officer at basic chemicals manufacturer AMRA Renal Care limited for over three years.

Medikabazaar has raised a total of $191.94 Mn across six funding rounds and the last round was raised on April 12, 2022, as per Inc42’s data.

The post Top Deck Reshuffle At Medikabazaar: CEO Vivek Tiwari Steps Down To Take Board Role appeared first on Inc42 Media.

The healthcare sector in India has taken significant strides in the past two decades. The country boasts 1.34 doctors per 1,000 people, past the WHO recommendation. The homegrown healthcare market has reached around $372 Bn and is growing at a CAGR of 22%, while the global market is worth $10 Tn. Despite the huge growth, surgery is less expensive at home, around one-tenth of what it costs in the US or Western Europe.

These numbers are important, but some ground realities in the Indian healthcare sector are equally so. Consider this: A 2019 EY survey revealed that 61% of patients felt hospitals did not prioritise their best interests. Those surveyed cited poor hospital responsiveness, long wait times and a disregard for patient feedback. In essence, local healthcare services are still fraught with challenges. But new-age Indian startups are increasingly making forays into this space to address the obvious and the not-so-obvious healthcare issues.   

Pristyn Care, a healthtech unicorn launched in 2018, aims to address issues related to patient care. Founded by the husband-wife duo Dr Vaibhav Kapoor and Dr Garima Sawhney, along with their friend Harsimarbir Singh, the company enables elective surgery (non-emergency procedures) through its network of 300+ partner hospitals.

“Vaibhav and I had set up practices at the time and experienced patient problems firsthand. Harsh [Harsimarbir], too, had a close encounter as his mother had to undergo surgery,” said Dr Sawhney, explaining what motivated the founders to address this gap.

Inc42 spoke to Dr Sawhney to understand how Pristyn Care enhances patient experience, the role of AI in improving patient engagement and how her journey as a doctor has shaped the startup’s core philosophy. Here are the edited excerpts from the interview.

Inc42: What motivated you to launch Pristyn Care? Were you moved by patient pain points? 

Dr Garima Sawhney: As a doctor, I have had a 360-degree view of the healthcare system. I practised at several hospitals and experienced their strengths and weaknesses firsthand. These experiences became a wellspring of knowledge for me.

During that period, the patient’s perspective became quite evident. For instance, long waits for doctors’ appointments and surgeries across government hospitals were a constant cause of frustration. Similarly, transparency could be a big challenge.

When I started my practice, it allowed me to connect with patients directly. I noticed that they craved more time with their doctors. They needed easy access and clear communication. A diagnosis and treatment plan were often handed over without delving deep into what would happen during and after treatment.

It was not an ideal situation. So, Vaibhav, Harsh and I brainstormed solutions to improve the healthcare experience. We recognised a significant gap in the system, wanted to build trust among patients and ensure a smooth surgical experience. That’s how Pristyn Care was born. 

Inc42: As a medical professional, you have a thorough understanding of patient requirements. Did that help you usher in the successful patient-centricity at Pristyn Care?  

Dr Garima Sawhney: I have always tried to see things from a patient’s perspective. Surgery is rarely a pleasant experience, and it can be incredibly stressful for patients and their families.

At Pristyn Care, we recognise their emotional state. Our patient care coordinator team is the first point of contact, and they undergo extensive training for 30 to 40 days to communicate effectively with patients. While speaking to them, the coordinators gather detailed information about their medical conditions, symptoms and needs. This creates a sense of trust and comfort, as patients know they can soon visit a doctor at a clinic close to their place.

The entire procedure is well-planned and detail-oriented. During the one-to-one consultation, the doctor examines the patient, listens carefully and explains the diagnosis and treatment options. If surgery is required, Pristyn Care manages the insurance process and our patients don’t have to navigate complex insurance websites or visit different hospitals for insurance approvals. Our coordinators handle all formalities on behalf of our patients and connect them with the most suitable partner hospitals.

Inc42: What’s done next?

Dr Garima Sawhney: Unlike traditional hospital booking, we arrange a week’s stay in advance, doing away with the additional stress of finding a room on arrival. More importantly, we have established partnerships with these hospitals for the highest quality care throughout the surgery.

Post-surgery, our team monitors everything related to patient care so that families do not face delays and uncertainties. We clearly communicate discharge processes and update status at all times.

Since its launch, Pristyn Care’s net promoter score (NPS) has never dipped below 68% and it is currently around 72%. However, we constantly strive to improve the patient experience.

Inc42: Hospital experience is bound to impact a patient’s well-being. What do you do to ensure the best possible outcomes?

Dr Garima Sawhney: I often cite this example to explain what happens when we perform surgery: We have to transfer patients from a waiting room to an operating theatre (OT). But OTs are not the kind of theatres where movies are featured. Surgery is a necessary procedure, but no one enjoys it. 

In healthcare, we operate within a specialised surgical ecosystem, and ensuring the highest patient safety level is paramount. The hospitals where our patients are treated must adhere to the highest safety standards, as we prioritise patient safety during every surgical procedure.

We have set up a dedicated 20-member team to assess the quality of hospitals where our patients are treated. Their role is crucial as they make sure that each hospital is fully equipped, has all necessary licences and fully complies with all regulations. Plus, all essential equipment must be in place to perform surgeries safely. The comfort between the doctor and the patient is also crucial for a successful outcome. Only hospitals that meet our stringent criteria are approved to partner with Pristyn Care.

Inc42: How does Pristyn Care build patient trust? 

Dr Garima Sawhney: Absolutely! When we built this company on the understanding that undergoing surgery is a critical decision. Patients don’t simply book appointments, meet doctors and schedule procedures. They need reassurance and we are building that confidence among patients. 

Understanding a patient’s requirements is crucial for any healthcare provider. By knowing their fears and expectations, you can take steps to gain their trust and guide them through the entire process. In essence, this is the core foundation based on which patients come in for treatment.

I think healthcare staff should be especially attuned to patient needs. It takes time and hands-on experience to understand the complexities of healthcare terminology and patients’ concerns.

We have developed a comprehensive training programme called Mira AI for our care co-ordinators that combines AI modules with self-learning activities. The AI modules delve into specific diseases, explaining symptoms, common patient concerns, appropriate communication strategies and available treatment options. This holistic training equips co-ordinators to engage confidently with patients and address their needs effectively.

Our focus is not on technical skills or communication basics for doctors. We emphasise the human touch, their empathy, to be precise. While doctors naturally possess this quality, we offer support through our SOPs (standard operating procedures) to ensure they connect with patients effectively. The focus on empathy often leads to a better patient experience. 

Inc42: As a woman leading a healthtech unicorn, what are your key takeaways and advice for aspiring women leaders in this field?

Dr Garima Sawhney: Well, I will be honest. It is not a walk in the park. But here is what I have learnt. You need to understand your unique value proposition. Why are you here? What problem are you solving that needs addressing? That is your focus.

Now, whatever you are doing, understand it inside out. Develop a risk management strategy for everything you do. That is the cornerstone of building a strong organisation.

As a woman, you will likely know how to manage your personal and professional life (and often excel at it). But when you are at work, achieving balance is the key. So, delegate at home, raise your family, but manage everything simultaneously.

Also, surround yourself with those who can help you learn; they can be your mentors, peers or colleagues. Build a network of people who can support your growth on this journey.

And finally, do remember that good things happen along the way. Be transparent with your family and share your dreams. Also, build a work family, a team that feels like an extension of your own, and enjoy the small wins together.

The post Pristyn Care’s Approach Is Rooted In Patient-Centricity: Cofounder Dr Garima Sawhney appeared first on Inc42 Media.

Healthtech startup Practo said it turned adjusted EBITDA positive in the fourth quarter (Q4) of the financial year 2023-24 (FY24) and that it is “on track to maintain this positive momentum (positive adjusted EBITDA)  in the full year of FY25”.

In a statement, the startup said it witnessed a 90% decline in its adjusted EBITDA loss to INR 17 Cr in the entire FY24. 

“A sharp focus on core business resulted in a 68% CAGR, reducing adjusted negative EBITDA from INR 162 Cr to INR 17 Cr. Additionally, its contribution margins rose to 40% in FY24 from -1% in FY22, reflecting enhanced operational efficiencies,” the statement said. 

The startup also said that it clocked a 22% growth in revenue during the fiscal year under review. In absolute terms, Practo’s revenue surged to INR 242 Cr in FY24 from INR 195 Cr in the previous year.

Offering a deeper insight into its operations, the healthtech startup said that it saw a “significant growth” in Tier-2, 3 markets, with revenue zooming 50%. It also claimed to have clocked a 20% revenue jump in Tier-1 markets. 

Sharing data about its hospital management system, Insta, Practo said that the SaaS platform reported a 98% retention rate and is cash flow positive. It also said that Insta is used by more than 1,500 healthcare centres globally and accounted for a 15% market share in the United Arab Emirates (UAE). 

Going forward, the healthtech startup plans to “build” a “repeatable” engine for sales and customer growth. It also plans to further improve its products and brand investments to achieve year-on-year (YoY) double-digit growth in revenue and profit.

In its annual letter for FY24, Practo said that it plans to explore expansion into new geographic regions to grow its reach and add more users to its kitty. Practo also plans to leverage artificial intelligence (AI) to bolster its offerings going forward. 

“The company’s top priority in FY25 is to grow profitably and build innovative products that continue to improve health outcomes. With advancements in AI, Practo expects to upgrade its products to include the best AI features for both consumers and providers,” added the statement. 

Practo cofounder and CEO Shashank ND said, “… Data science offers the promise of preventing human error in diagnosis, matching patients with the right healthcare providers, reducing unnecessary costs through accurate diagnoses, and minimising wasted resources due to misdiagnosis. And Practo stands at the forefront of this data-driven healthcare revolution.”

Founded in 2008 by Abhinav Lal and Shashank, Practo is a healthtech platform that offers telemedicine and doctor appointment booking services. It also offers a SaaS platform that helps hospitals manage their systems. 

The startup has raised over $228 Mn in funding since its inception and is backed by the likes of Peak XV Partners, Matrix Partners India, Tencent, RTP Global, and Sofina. 

The turnaround comes a year after Practo fired more than 41 employees as part of its performance management and planning process in April last year. 

Since then, the startup appears to have brought its expenses under control and streamlined its operations. Meanwhile, India’s healthtech market continues to make rapid strides and is projected to be a $21 Bn space by 2025.

The post Practo Claims Adjusted EBITDA Profitability In Q4 FY24, Revenue Grows 22% In FY24 appeared first on Inc42 Media.

Bengaluru-based healthtech startup MediBuddy is raising $8.4 Mn (about INR 70 Cr) debt funding from existing debt investors, including Innoven Capital and Alteria Capital, Inc42 has learnt.

Confirming the development, the startup told Inc42 that the funds would be used for sustained growth and potential acquisitions. 

“MediBuddy is strategically raising INR 70 Cr in debt from our trusted existing debt partners. Our core business remains financially robust and does not require immediate capital, this initiative is a vital component of our comprehensive business strategy to further fuel expansion,” a MediBuddy spokesperson said in a statement. 

The spokesperson added that the debt funding will enhance its cash reserves for new strategic priorities. 

MediBuddy also claimed in the statement that it closed FY24 with a marginal loss and approached EBITDA neutrality. Now, it is focussed on acquiring companies within key healthcare sectors, including women’s health, mental health, diabetes, and chronic disease management. 

“… To enhance our cash reserves for new strategic priorities, we are undertaking this debt raise, which is non-dilutive to our equity… This infusion of capital will enable us to continue investing in innovative healthcare solutions, expanding our reach, and enhancing the quality of our services,” the statement added.

The fresh debt infusion comes almost nine months after the startup bagged $18 Mn from its existing investors, including Qadaria Capital, Lightrock, and TEAMFund, for expansion and strategic acquisitions. 

Founded in 2015 by Satish Kannan and Enbasekar Dinadayalane, MediBuddy offers doctor video consultations, end-to-end surgery care, online lab test booking and medicine ordering services. Besides this, the startup also offers insurance solutions with the help of Medi Assist.

MediBuddy claims to have a network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies, covering almost 96% of Indian pin codes. The startup currently claims to have a customer base of over 3 Cr. 

With the latest fundraise, the startup’s combined equity and debt funding would increase to about $218 Mn. The soonicorn startup counts the likes of Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, JAFCO Asia, and TEAMFUND LP among its backers. 

MediBuddy directly competes against the likes of Tata-owned 1mg, Practo, and Reliance-owned Netmeds in the burgeoning Indian market. 

Telemedicine startups saw a stupendous increase in demand with the onset of the Covid-19 pandemic. On the back of this, a number of healthtech startups raised capital to expand their offerings and infrastructure.

However, these startups saw a sharp decline in their user base after the pandemic subsided, resulting in many healthtech startups shutting down. Manipal Group-backed Phable, and MojoCare were among the startups which shut operations. 

The post Exclusive: MediBuddy To Raise $8.4 Mn Debt Funding To Fuel Expansion Plans appeared first on Inc42 Media.

Healthtech unicorn Innovaccer is reportedly in talks with the US-based health and insurance major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn. 

The Abhinav Shashank-led startup will secure the fresh capital in a mix of primary and secondary funding, a report by ET said. 

“Kaiser has been in talks with Innovaccer for a while but this time the talks are progressing steadily between the two. It is also a customer of Innovaccer’s services,” the report cited a source as saying. 

Meanwhile, a report by TechCrunch said that this would be a downround for the startup. If the funding talks materialise, its valuation will be reduced to somewhere in the range of $2.5 Bn-$3 Bn. The startup last raised $150 Mn in its Series E round in December 2021 at a valuation of $3.2 Bn.

The startup can be valued as low as $2 Bn for the secondary transaction, the TechCrunch report said.

A query email sent to Innovaccer about the fundraise didn’t receive any response till the time of publishing this story. The article would be updated on receiving a response from the startup.

It is pertinent to note that earlier this week, Kaiser Permanente announced a partnership with Innovaccer to improve its value-based care services. 

Founded in 2014 by Shashank, Kanav Hasija and Sandeep Gupta, Innovaccer analyses healthcare data to provide actionable insights to healthcare providers, hospitals, insurance companies and other organisations and businesses. 

The startup, which has headquarters in Bengaluru and San Francisco, has raised a total funding of about $390 Mn till date. It is backed by the likes of Tiger Global Management, B Capital Group, Microsoft’s M12 fund, and OMERS Growth Equity. 

Earlier this year, Innovaccer acquired digital marketing and customer relationship management startup Cured.

The latest development comes at a time when the Indian startup ecosystem has been seeing a number of secondary transactions. Most recently, IPO-bound Capillary Technologies secured $95 Mn in secondary transactions as part of its Series D funding round of $140 Mn.

Besides, early-stage investor Chiratae Ventures is reported to have sold some of its stake in Lenskart, Bizongo, Rentomojo, among others, to private equity firm Madison India Capital for $70 Mn.

The post Healthtech Unicorn Innovaccer In Talks To Raise $250 Mn From Kaiser Permanente appeared first on Inc42 Media.

Barely a month after the Competition Commission of India (CCI) greenlit PharmEasy’s INR 3,500 Cr rights issue, the digital pharmacy has raised INR 1,804 Cr ($216.2 Mn) in a down round led by the family office of Manipal Group chairman Ranjan Pai.

As per regulatory filings accessed by Inc42, PharmEasy’s parent API Holdings passed special resolutions to allot 18.63 Cr (18,63,74,897 to be precise) cumulative convertible preference shares B (CCPS B) at an issue price of INR 96.8 each. This translates into a cumulative total of INR 1,804 Cr.

The development was first reported by Entrackr.

The funds were raised as part of the ongoing rights issue at a 90% valuation cut compared to the startup’s peak valuation of $5.6 Bn in October 2021. 

While the MEMG Family Office pumped in INR 800 Cr, Prosus invested INR 221 Cr. On similar lines, 360 One (formerly IIFL Ventures) infused INR 200 Cr through multiple funds, while Temasek invested INR 183 Cr.

Canadian pension fund CDPQ also invested INR 95 Cr in the epharmacy major. 

Meanwhile, WSSS Investments, Goldman Sachs, and Evolution Debt Capital cumulatively invested INR 304 Cr.

The company’s board passed the proposal to allot the CCPS in two different board meetings held on April 9 and April 11. As per the filings, the startup plans to convert the CCPS into equity shares in the ratio of 1:20.

Meanwhile, it remains to be seen when the remaining INR 1,700 Cr of the INR 3,500 Cr trickles in for PharmEasy. 

The fundraise comes just a month after the CCI approved the proposal of MEMG family office and 360 One to invest in API Holdings. Earlier in January, the competition watchdog also cleared the investment proposals of Goldman Sachs India, MacRitchie Investments and Evolution X, CDPQ, among others. 

The digital pharmacy undertook the rights issue to clear a significant portion of its outstanding debt to Goldman Sachs. The startup had violated its loan covenant conditions with Goldman Sachs barely a year after raising the debt. 

As per the terms of the loan, the Mumbai-based startup was supposed to raise an equity round of about INR 1,000 Cr but the fundraise failed to materialise amid mounting losses, funding winter, and macroeconomic pressures.

Founded in 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Siddharth Shah, and Hardik Dedhia, PharmEasy sells medicines online and also offers diagnostic tests to its customers through its other brands.

The company has been in choppy waters for some time now for a range of reasons including valuation markdown, funding woes, and mass layoffs. The startup was also the biggest underperformer in the Indian portfolio of investment giant Prosus in H1 FY24 with an internal rate of return (IRR) of -41%.

However, PharmEasy has been on the mend recently on the back of a restructuring exercise. It managed to cut down its loss to INR 2,289 Cr (excluding impairment loss) in FY23 from INR 2,731.7 Cr in the previous fiscal year. Operating revenue rose 16% year-on-year to INR 6,644 Cr in FY23.

The post PharmEasy Rights Issue: Epharmacy Raises INR 1,804 Cr At A 90% Valuation Cut appeared first on Inc42 Media.

Healthtech startup Portea Medical has raised $19.87 Mn (INR 165.8 Cr) through a rights issue, a year after it received an approval from the Securities and Exchange Board of India (SEBI) for initial public offering (IPO).

The board at Portea received a special resolution to issue 69.2 Mn Series D1 compulsory convertible preference shares (CCPS) at an issue price of INR 23.96 apiece, according to the company’s regulatory filing with the Registrar of Companies (ROC). 

The development was first reported by Entrackr.

Having filed its Draft Red Herring Prospectus (DRHP) in July 2022, the startup bids to raise INR 800 Cr ($95.9 Mn) via its IPO. The IPO comprises a fresh issue of equity shares worth INR 200 Cr and an offer for sale (OFS) of up to 56.25 Mn shares.

It is pertinent to note that the startup introduced an addendum to its DRHP on March 10, 2023, before receiving a nod from SEBI in April 2023. It plans to list on the BSE and NSE post the IPO

Founded in 2013 by Krishnan Ganesh and Meena Ganesh, Portea Medical offers healthcare services which include maternal care, physiotherapy, nursing, lab tests, counselling and critical care, among others. The Bengaluru based startup has raised over $75.1 Mn since inception. 

In its last disclosed financial results, the startup reported an operating revenue of INR 145 Cr in the financial year 2022-23 (FY23), a 3.3% decline from INR 150 Cr in the previous fiscal year, as per data reported by Entrackr. In the FY, Portea’s expenses also grew 32.5% from INR 40 Cr in FY22 to INR 53 Cr in FY23. 

This development comes at a time when the bourses are heating up for new age tech stocks as multiple startups are looking to make a go at the public market in FY24. Last week, Swiggy filed its DRHP with the SEBI, albeit confidentially. The foodtech major is looking to raise $1.2 Bn with its IPO. 

Further, Peak XV-backed coworking space provider Awfis and B2B travel portal Travel Boutique Online or TBO Tek, also received a go-ahead from the exchanges for their respective IPOs, last week. 

Other awaited public market debuts include ixigo, MobiKwik, Unicommerce, and Ola Electric. 

The post IPO-Bound Portea Medical Secures $20 Mn Via Rights Issue appeared first on Inc42 Media.

Bengaluru-based healthtech startup Healthify (formerly HealthifyMe) laid off around 150 employees, or about 27% of its workforce, in a restructuring exercise earlier this week, sources told Inc42.

The layoffs mostly impacted employees from sales and product teams, the sources added.

Healthify cofounder and CEO Tushar Vashist confirmed the layoffs with Inc42, saying the restructuring exercise was undertaken as the startup is looking to make its India business EBITDA profitable and expand its offerings in the US market.

“In the next three-four months, our India business will turn EBITDA profitable and this restructuring was an unfortunate but an important step in line with achieving this. We also have to make sure we have enough resource allocation for the global expansion,” Vashisht said. 

Meanwhile, Healthify told Inc42 in a statement, “..We deeply understand the impact of these changes on our affected employees and will provide them robust support during this transition, including comprehensive severance packages, extended insurance coverage, and job placement assistance.” 

The impacted employees have been offered 2-months salary as severance pay, extended insurance coverage, accelerated stock vesting period in some cases, and leave cash encashment, the sources mentioned above said. 

The layoffs came almost a year after Healthify raised $30 Mn in its pre-Series D funding round led by LeapFrog Investments and Khosla Ventures. The round also saw participation from new investors FinnFund, a Finnish development financier, and Van Lanschot Kempen, a Dutch investment firm.

In December 2021, the startup had laid off around 150 employees from various teams, including SME (subject matter expert), quality analytics, product and marketing. 

Founded in 2012, Healthify’s health and fitness app leverages AI to deliver measurable results on eating habits, fitness and weight by tracking lifestyle and providing access to coaches, among other benefits.

Healthify has raised around $130 Mn in funding till date and counts the likes of Sistema Asia Capital, Athera Venture Partners, and Innoven Capital among its backers. 

The startup competes with the likes of UltraHuman, Cult.fit, and one8 Fitness. 

Healthify’s net loss declined to INR 142 Cr in FY23 from INR 157 Cr in the previous fiscal year, while revenue from operations surged 23% to INR 228.76 Cr from INR 185.25 Cr in FY22.

The post Exclusive: Healthify Fires 150 Employees In A Restructuring Exercise appeared first on Inc42 Media.

Bengaluru-based healthtech SaaS startup HealthPlix fired 100 employees, or 25% of its workforce, as part of a restructuring exercise and annual performance review. 

A spokesperson of the startup confirmed the development with Inc42 and said that around 60 employees were let go because of poor performance, while the remaining were impacted due to role redundancies.

“Around 55 to 60 employees were let go because their performance was below par and we had to let them go as part of the annual appraisal cycle,” the spokesperson said. 

Sources told Inc42 that a majority of the employees who were fired due to performance issues were from the sales department. 

While the impacted employees were not put on a performance improvement plan (PIP), they were given feedback multiple times to work on their shortcomings, the spokesperson added.

Meanwhile, sales, product, engineer, and revenue teams were impacted by the restructuring exercise, which resulted in 10% reduction in HealthPlix’s workforce.

“The restructuring exercise was in line with the company’s next growth arc. HealthPlix intends to go global and is planning to make enterprise solutions for its foreign clients,” the spokesperson added. 

Inc42 has also learnt that HealthPlix has now started charging customers for its electronic medical record (EMR) software, which it used to offer free of cost earlier.

The sources cited above also said that the number of employees impacted by the restructuring exercise could be much higher than that cited by the startup.

All the 100 employees will receive severance pay based on their employee contracts. Most of them will receive two months of severance pay. 

Founded in 2014 by Sandeep Gudibanda, Raghuraj Sunder Raju, and Prasad Basavaraj, HealthPlix allows doctors to create a full medical profile of their patients with the help of its ERM software, helping them during follow-on consultations. 

The startup last raised $22 Mn in a mix of equity and debt in its Series C funding round last year amid the funding winter. The round was led by Avataar Venture Partners and SIG Venture Capital. 

Back then, the startup said it would use the capital to grow its base of doctors and invest more in sales, product and engineering teams. 

HealthPlix currently works with around 14,000 doctors. 

The startup has raised $40 Mn in funding till date and counts Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, and Chiratae Ventures among its backers. 

It posted a net loss of INR 41.9 Cr in the financial year 2022-23 (FY23), 17% higher than INR 35.8 Cr in the previous fiscal year. However, its revenue more than doubled to INR 29.1 Cr from INR 13.6 Cr in FY22. 

At INR 53.9 Cr, employee benefit expenditure was the startup’s biggest expense and accounted for 75% of its total expense of INR 71.5 Cr in FY23. Employee costs rose 65% during the year under review from INR 32.6 Cr in FY22. 

HealthPlix competes against startups like Practo. It is pertinent to note that the startups in the EMR domain have been struggling for some time. While Kalaari Capital-backed Phablecare shut its operations last year, PharmEasy-acquired Docon undertook a massive restructuring exercise in 2022. 

The post Exclusive: HealthPlix Axes 25% Workforce Due To Performance Issues, Role Redundancies appeared first on Inc42 Media.

In a country like India, where affordable, universal healthcare run by government agencies remains a work in progress, most people rely on private healthcare facilities. In fact, more than 70% of the country’s hospitals are privately owned and nearly 85% are in the unorganised sector. 

As patients prefer visiting corporate chains or quality healthcare providers in metros during health crises, large payers are steadily increasing their market share. Consequently, small and midsized hospitals in non-metro locations are grappling with a decline in patient footfall. On the other hand, those who cannot afford expensive private care are left to bear the brunt of healthcare disparities. For context, a report by the National Insurance Academy suggested that about 30% of India’s population (around 40 Cr individuals) lack health insurance. 

No doubt there are national and state-level health protection schemes for low-income families for secondary and tertiary care. But even a pan-India health assurance project like Ayushman Bharat with its HWCs (health and wellness centres) and flagship PM-JAY scheme (Pradhan Mantri Jan Arogya Yojana enables an annual spend of INR 5 Lakh per family) covered a little over 50% of its target beneficiaries as of December 2023.

However, a silver lining is there in the form of asset-light models. A new crop of healthtech startups such as Pristyn Care have come up to address structural and resource shortages. These innovative digital platforms connect patients with all available medical facilities in their own cities and nearby areas/regions to ensure maximum cost-effectiveness for patients and optimum occupancy rates at existing units. 

It is a win-win for all. People do not have to travel far for treatment at corporate hospitals at six to eight times the usual cost. Also, smaller medical units can earn bigger revenues due to a significant rise in patient footfall. Besides, the latter can keep their capex under control and still improve care quality by sharing high-end portable devices used by many speciality hospitals. Additionally, there will be headroom to operationalise beds at existing facilities and introduce more paramedics and other trained healthcare professionals to the ecosystem.                      

“I have always been vocal about the underutilisation of small and midsized hospitals and nursing homes,” said Dr Vaibhav Kapoor, cofounder of the unicorn healthtech startup Pristyn Care. 

“Covid-19 was a real eye-opener, underscoring what happens when we lack an agile healthcare infrastructure. The shortcomings became evident when every large hospital was full. However, in normal times, most small/midsized hospitals struggle daily due to low patient volume.”

Set up in 2018 by Dr Kapoor, Dr Garima Sawhney and Harsimarbir Singh, Pristyn Care had the foresight to recognise that improving capacity utilisation across could be a game-changer in terms of earnings and patient care.

The elective surgery service provider (non-emergency medical procedures planned ahead) provides patient care through a network of 350 hospitals and 100+ clinics. It is present in more than 30 cities including Delhi NCR, Mumbai, Bengaluru, Kochi, Chandigarh and  Ludhiana and ensures resource optimisation, resulting in affordable patient care.  

In a one-on-one interaction with Inc42, Kapoor explained how the startup is expanding its presence beyond metros to empower small and midsized hospitals by increasing patient footfall and revenue. Here are the edited excerpts:  

Inc42: What are the major challenges small hospitals, nursing homes and clinics in Tier II and III cities face nowadays?

Dr Vaibhav Kapoor: For context, it is worth noting that many doctors want to set up their medical practices after cornering professional success. So, it is common for groups of doctors to come together and run hospitals with 50-100 beds, which are much smaller than the large, branded hospital chains.

Now, these small, independent hospitals face numerous challenges. For instance, their capacity for high-end/advanced equipment is limited due to the costs involved, often ranging from lakhs to crores.

Another critical issue is adherence to protocols. Small and midsized hospitals often require a set curriculum to ensure that nurses are well-versed in duties for specific wards, operating theatres and patient admission procedures. In the absence of this procedure, there may be a lack of standardisation in implementing these protocols.

Finally, and this is particularly relevant for Tier II and III cities, these hospitals struggle to attract super-specialist doctors due to the limited availability of high-quality equipment. This, in turn, creates a lack of trust among patients and they hesitate to visit small hospitals.     

Inc42: How can small healthcare facilities in Tier II and III cities best address low patient footfall and occupancy rates?

Dr Vaibhav Kapoor: We have many doctors working with us, and we can request that they visit small hospitals and nursing homes to provide surgical care. When patients see a doctor who regularly operates at a large corporate hospital and acts as a visiting consultant at a small facility, their confidence is boosted.     

We also understand the challenges these hospitals face when investing in high-end equipment. Pristyn Care addresses this by purchasing the equipment. For instance, kidney stone removal can be done using traditional open surgery or a Laser procedure [Holmium laser]. However, the machine costs around INR 25 to 30 Lakhs. Similarly, Laser treatment for proctology is expensive, amounting to INR 1 to 1.5 Lakhs.

Fortunately, these machines are portable and can be shared between hospitals on demand. By operating in multiple hospitals in a region, we can optimise the use of these advanced instruments. Access to them further builds patient trust in small hospitals. 

Inc42: India’s Tier II and III cities also face a shortage of trained healthcare professionals. How does Pristyn Care deal with it through its training programmes? Has that initiative improved care quality?

Dr Vaibhav Kapoor: Pristyn Care’s quality control (QC) team is based in Gurugram and travels to our 350 partner hospitals and 100+ clinics across India to train healthcare professionals, including nurses and paramedics. These programmes focus on standardising protocols to ensure optimal patient care.

For example, the QC team updates staff on areas like OT equipment sterilisation and patient safety measures, such as fall prevention and allergy management protocols. We have trained more than 9K staff members across our partner facilities. Our training programmes include on-site sessions and virtual sessions for constant reference by hospital staff.

Essentially, we help hospitals in Tier II and III regions gain patient trust by standardising processes and providing staff training.

Inc42: How does your technology infrastructure ensure scalability and patient privacy as you expand your reach?

Dr Vaibhav Kapoor: Well, patient safety is paramount. During my decade-long career as a surgeon, I have seen numerous medical errors stemming from patients and pharmacists misinterpreting doctors’ handwriting, leading to wrong medications. 

We have proactively addressed this by introducing electronic medical records (EMRs) with the help of an AI-ML platform. EMR helps surgeons access patient data, review medical history and monitor how their patients are doing on all critical parameters. Within our distributed network across 30+ cities, this centralised system has significantly reduced patient-related errors. Typed prescriptions also mitigate misinterpretation risks.

We have also partnered with many insurance companies to offer medical insurance through our platform. Additionally, we have developed three apps to enable a seamless flow of information. These include a hospital app, a patient app and an insurance app. They ensure patient privacy and eliminate the need for information sharing via WhatsApp or over the phone. This streamlined process further enables speedy patient admission.

Inc42: With major healthcare chains foraying into Tier II and III cities, will small hospitals face unique challenges? How can they navigate those?

Dr Vaibhav Kapoor: Large healthcare chains may not pose a big threat to small players because the former typically focusses on tertiary and quaternary care [advanced levels of specialised care]. The capex associated with advanced equipment for such procedures is very high, and hospitals can only profit from complex surgeries like liver/kidney transplants and cardiac or brain surgery.

In contrast, small hospitals can excel in secondary care surgeries, which are typically two- to three-day procedures and require specific expertise. This focus on specialisation is precisely our strategy. For instance, patients may prefer a small maternity clinic to a large hospital where gynaecology is just one speciality. 

Therefore, we envision our partner hospitals to become centres of excellence for secondary care surgeries, carving a valuable niche in the healthcare landscape. 

Inc42: Can you elaborate on how Pristyn Care’s support system goes beyond patient footfall and delve deeper into how it empowers doctors to tackle day-to-day operational challenges. 

Dr Vaibhav Kapoor: I became a doctor because I felt committed to this profession. But the healthcare landscape has changed since then. Surgical expertise is just one aspect. Doctors now face many challenges, including setting up clinics, managing operations, building a digital presence and dealing with medico-legal risks.

Doctors gain confidence when they work with Pristyn Care, knowing that we handle patient footfall and ground operations. This comprehensive support system is valuable and has attracted nearly 600 doctors to our network – all through word of mouth, with minimal marketing expenditure on our part.

Inc42: Secondary-level critical care may involve longer hospital stays than elective surgeries. Do you think an asset-light model like Pristyn Care is fully equipped to cover those complex medical procedures?

Dr Vaibhav Kapoor: Absolutely! We started with elective surgeries, but now we are doing knee replacements and vascular surgeries – both classified as tertiary care. Our asset-light model can be applied across diverse medical needs if we can effectively deal with low patient footfall. 

Pristyn Care plays a critical role in generating revenue for its partner hospitals. For instance, we generate 60-70% of the income for around 30% of the hospitals. Overall, we help drive around 50% of the revenue for most midsized hospitals in our network. It enables them to make the most of their existing resources without hiring additional staff.

The post We Empower Tier II, III Hospitals With Resource Optimisation & Standardisation Across 30+ Cities: Pristyn Care’s Dr Vaibhav Kapoor appeared first on Inc42 Media.