Health-focused travel company HealthTrip will broaden its global presence by adding 10 new centres throughout South-East Asia, the Middle East, and Africa this year, with a total investment of $2 million, according to a top company executive.
Currently, it operates 14 international centres across countries, including Bangladesh and Central Asia. Launched in 2019, it serves as a platform for individuals to book flights and medical facilities across destinations such as India, Thailand, the UAE, Turkey and other regions where it operates.
Danish Ahmed, CEO and Founder, HealthTrip, told businessline that it has assisted 43,000 people from 41 countries, primarily from underdeveloped nations in Africa, Uzbekistan, Bangladesh, Indonesia, and beyond, since its inception.
Pointing to the substantial demand in the market, Ahmed emphasised that in India alone, the medical tourism industry is valued at $6 billion and is projected to reach $8 billion in the near future. This year, HealthTrip aims to cater to approximately 4,000 customers and plans to triple this number in the following year.
Furthermore, the company is in the process of securing funds for its pre-Series A round, with a substantial portion earmarked for expansion. “Over the next three years, we aim to secure a funding round of $50 million,” said Ahmed. Prior to this, it had raised $3.2 million.
Subscription-based model
Beyond its expansion strategy, the company intends to introduce a subscription-based model for users in the next financial year.
Despite its current focus on medical services, the rebranding of the company to HealthTrip is rooted in its ambition to encompass non-medical sectors, including Ayurveda and cosmetics. “Globally, wellness constitutes 80 per cent of the industry, medical services comprise 10 per cent, and cosmetics account for the remaining 10 per cent. The prevalence of wellness-related travel, particularly for practices like Ayurveda, is fairly large,” he explained.
“We aspire to eventually derive 50 per cent of business from the non-medical sector within a 4–5-year timeframe,” he added. Currently, it has established partnerships with more than 340 hospitals, of which 80 are wellness centres.