HealthAssure to invest $15 m on global expansion

Priyanka Pani Mumbai | Updated on January 11, 2018

Start-up aims to strengthen preventive care network, make services affordable

HealthAssure, a primary healthcare aggregator, plans to invest $15 million (₹94 crore) to build a network of primary and preventive care network in the country as well as enter newer markets.

The company plans to enter markets such as South-East Asia, Bangladesh, Pakistan and Sri Lanka, Indonesia and Malaysia to make healthcare more affordable in those countries, the firm said.

The Delhi-based start-up, which has raised close to over $20 million in venture capital since inception, plans to invest the amount over the next three years to strengthen its doctor and diagnostic-centre network, distribution, business development, and also build technology.

Varun Gera, Chief Executive Officer and founder of HealthAssure, told BusinessLine that though medical inflation is high in India, it is still one-tenth of that in the US and other developed markets, and can be made more affordable with the help of technology.

Turnkey service

“In the Indian market, preventive care, which is the primary care, is in the early stage and there exists big gaps. There are not enough quality centres around and that is where HealthAssure comes in to the picture. We hope to bridge this gap with our platform to ensure maximum people get the access they need to meet their day-to-day healthcare needs,” he said.

Gera added that the idea is to reduce the ‘out-of- the-pocket’ expenditure for as many people as possible.

The company is looking to reach up to 2.5 million customers by 2020, with the fresh round of investment. At present, the platform has one million active subscribers, Gera said, adding that the venture has been profitable for phe last three years.

The start-up provides a complete turnkey service for individuals by not only helping patients choose a doctor and book appointments (based on their needs such as proximity, most convenient day, time, etc) but also by sending reminders on report delivery and/follow-up consultation requirements at the end of every visit.

Network expansion

The company has a network of 2,500 primary care centres across 1,000 cities, and plans to consolidate the numbers in these cities this year before hitting the global markets.

The start-up works with some large firms in the insurance andcorporate segments — Carlsberg, Royal Sundaram General Insurance, Marsh, ICICI Prudential Life Insurance, among many others.

Published on January 11, 2018

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