Companies

Healthcare provider Portea Medical to expand range of services

G Naga Sridhar Hyderabad | Updated on January 12, 2018 Published on February 07, 2017

Looking at diagnostics, mental wellness and physiotherapy

Home healthcare company Portea Medical is exploring new areas as part of its expansion in both organic and inorganic mode.

"We are looking at new areas such as diagnostics, mental wellness and physiotherapy. Any acquisitions will be in the new areas like these,’’ Meena Ganesh, Chief Executive Officer and Managing Director, Portea, told BusinessLine on the sidelines of BioAsia 2017 here on Tuesday.

The Bangalore-based firm has been on a acquisition spree in the last two years including the two buys of Health Mantra and PSTakeCare in 2016.

While Health Mantra is a home medical equipment services provider, PSTakeCare is a health-tech start-up which offers information to patients on doctors, hospitals and labs for any medical procedure.

Earlier, in November 2015, it bought specialty pharmaceutical distributor MedybizPharma to deliver pharmacy care to patients with chronic conditions.

FUNDS

According to Portea Founder K Ganesh, the firm raised about $50 million so far. Its investors include Accel, IFC, Qualcomm Ventures and Ventureast. ``As we are expanding our range of services, we may consider raising more funds,’’ the CEO said.

"By far, we are the largest home heatlhcare provider with 1.20 lakh visits a month and there is still unmet needs in the market," she added.

Citing industry estimates, Ganesh said market for healthcare outside hospital in the country is estimated at $40 billion. "There is scope for 10 large companies as a fraction of this market has not yet been touched," he added.

Published on February 07, 2017
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