HealthCare at HOME attracts an Investment Commitment of up to US$40 million from Quadria Capital
Author(s): City Air NewsThe Company aims to expand operations to over 25 cities and double its workforce in the next 18- 24 months Chandigarh, April 3, 2017: HealthCare at HOME (HCAH),India’s leading provider of integrated home healthcare...
The Company aims to expand operations to over 25 cities and double its workforce in the next 18- 24 months
Chandigarh, April 3, 2017: HealthCare at HOME (HCAH),India’s leading provider of integrated home healthcare service, today announced an equity investment of up-to US $40 million from Quadria Capital, one of Asia’s leading healthcare focused private equity firm with over $1.5 Bn in managed capital. The investment will provide a thrust to HCAH’s aggressive expansion plans that include establishing a presence in over 25 cities across the country and strengthening its offerings of high end medical services to patients at their homes.
HCAH is an integrated platform offering a bouquet of healthcare delivery services and services to pharmaceutical companies. In healthcare delivery services, the company offers highly skilled services such as ICU care at home, cancer care at home, post-surgical care at home, and specialized nursing care at home to its patients, as well as basic services such as physiotherapy, medicine delivery at home and diagnostic services. HCAH also provides a one stop solution to pharma companies in their patient support programs which includes patient awareness, drug distribution & administration and data analytics. These services help pharma companies to improve compliance on their drugs, engage doctors and patients, reduce costs and increase the reach of their drugs.
Mr Gaurav Burman, Founder, HealthCare atHOME and Director Dabur International said,“In the last five years, since we founded HealthCare atHOME, the business has evolved to become the leading and the most trusted home healthcare business in India. We continue to believe that we have just scratched the surface of what is possible, and that over the next decade the market and adoption of home healthcare in India will grow exponentially. I am delighted that Quadria Capital shares this belief, and have decided to partner with us to realise the vision HealthCare atHOME is working towards. The team at Quadria have a wealth of experience in the healthcare industry, and a stellar track record, we are honoured and feel privileged that they are investing in our business and more importantly joining the Board and partnering with us. We believe HealthCare atHOME with its phenomenal management and brilliant caregivers will now have all the ingredients to succeed. HealthCare atHOME will not only become a successful enterprise but will also change the lives of many hundreds of thousands and potentially millions of patients, for the better. That is our mission and dream.”
The recent years have seen a significant uptake of home healthcare services in India. At an estimated size of US$280 billion of the Indian healthcare market, industry leaders expect the home healthcare segment to become a US $8.4 billion industry by 2020. HCAH aims to become the single largest brand in the home healthcare business in the country. Over the next few years, the company will be investing significantly in growing its workforce by recruiting and training skilled employees across all its healthcare verticals. In parallel, the company will also be bolstering its medical team by bringing together specialists and medical experts to provide 24/7 support to patients who need special attention and care albeit in the confines of their homes. Currently with approximately 800 team members and caregivers’ workforce, HCAH plans to scale this to 15,000 by 2020.
Dr. Amit Varma, Co-Founder and Managing Partner, Quadria Capital said, “Globally, home-healthcare segment is attracting interest from key stakeholders given its ability to deliver convenient and cost-effective care. HealthCare atHOME has a unique model that combines delivering specialized care services at the patient’s home and at the same time supports pharma companies with their outcome based patient access and support programs. We are looking forward to this journey of creating a market leading company.”
Commenting on the investment, Mr Vivek Srivastava, Co-Founder and CEO, HealthCare at HOME India said, “These are exciting times for us, as we prepare to take a huge leap in scaling our operations to provide the best-in-class services to our customers. We will roll out series of clinical initiatives to bolster our service offerings and will further equip the company to effectively piece together the key buildings blocks, i.e, human resources, technology and clinical protocols, that will help accelerate the roll out plan and solidify the position of the Company as an outcome based clinical service provider. This funding would help us fulfil our vision of becoming the custodian of health for our consumers.
“I have built homecare businesses across UK, Europe and Australia and I am very excited to have built this terrific company in India as well.I am extremely pleased that a respected, long-term oriented partner like Quadria shares our view about the vast opportunity ahead” said Dr Gareth Jones, Chairman, HealthCare at HOME India and former International Director, Healthcare at Home, UK.