Companies

Vadodara-based healthcare records firm raises first round of funding

Priya sundarajan | | Updated on: Sep 22, 2016

Receives funding from KellyGamma Fund One and Lead Angels to expand its presence

Vadodara-based patients records management firm, PurpleDocs announced raising of its first round of funding from Ahmedabad-based fund KellyGamma and Lead Angels for expanding its presence beyond Gujarat.

The firm, which provides cloud-based healthcare records to the hospitals, already has a presence in prominent cities in Gujarat by having tie-ups with 60 hospitals for managing patient's medical records. The company is now planning to enter new markets such as National Capital Region (NCR), Karnataka and Maharashtra in the next one year.

The financing will be used for PurpleDocs’ expansion of operations outside Gujarat and for further investment in its proprietary technology platform. We have about 5,00,000 patients' records from across these 60 hospitals. It gives an easy and quick access for the doctor to the patient's medical history," said Deepak Gupta, Founder & CEO, PurpleDocs.

PurpleDocs uses intelligent data analysis and statistical reporting to make searching of records and responding to queries simple and efficient.

PurpleDocs is also planning to come up with platforms to provide better diagnosis and research and move up the value chain. It also plans to develop a mobile-based access to these reports for faster accessibility to medical reports. Currently, only the hospitals are provided the access to the reports and patients keep the physical copies of the medical reports.

The prevalence of Healthcare Records Management as an integrated technology solution is still at a nascent stage in India. Today, more than 10 crore new patient records are generated in the country annually, added Gupta pointing towards a huge business potential in the field.

This latest round of investment will serve as a springboard for the company to expand its services. "In the next 3 years, we plan to capture around 6-7 per cent market share. Additionally, we are also working on innovative extensions of our current service offering which can prove to be a game-changer in healthcare records analysis," he said.

“What Deepak and the team have developed over the past few years including the customer penetration, is impressive, and we are excited to be working together to create a leader in healthcare records domain in India,” said Sharvil Parikh, Investment Manager at KellyGamma Fund One.

Published on January 16, 2018

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