Dabur family-owned Health Care Ay Home(HCAH) has raised $40 million (nearly Rs 250 crore) worth private equity investment from Asia-Pacific based Quadria Capital
HCAH, promoted by Gaurav Burman offers high-end Healthcare delivery services like ICU care, kidney dialysis, cancer care treatment at home. The venture that was floated in 2013 also helps pharma companies to provide assistance in their patient support group programmes.
“This is actually the first fundraising and we are glad that we have managed to raise money in these difficult times, that too from a seasoned healthcare investment firm as we are growing aggressively in this segment,“ said Gaurav Burman, director of Health Care at Home to ET.
Burman said the company will use the money to build infrastructure, which includes expansion in nearly 25 cities. It aims to be reach Rs 1,000 crore in sales by 2020. For Quadria Capital, which only looks at investments in healthcare, this is the first of such model in India that it has invested in.
The past investments of the PE firm in India includes Healthcare Global, Concord Biotech, Krishna Institute of Medical Science, among others.
Home healthcare segment is estimated to become a $8.4-billion industry by 2020. In India, companies like Portea, Medwell Ventures, Unique Healthcare of Apollo Hospitals are trying to trying their own models in this space.
For HCAH, the next few years will be crucial as the company will look at investing significantly in growing its workforce by recruiting and training skilled employees across all its healthcare verticals. Currently, with approximately 800 team members and caregivers workforce, HCAH plans to scale this to 15,000 by 2020.
HCAH fundraising comes less than a year after the company announced a JV with Japanese-based M3 Inc for its doctor’s online networking platform that would compete with likes of Practo and Curofy.