Health-tech company HCAH raises Rs 112 cr from ABC World Asia
Health-tech company HealthCare atHOME (HCAH) has raised Rs 112 crore from ABC World Asia (“ABC”), a Singapore based impact-focused private equity fund. HCAH is backed by Burman family, Quadria Capital and Founders of Healthcare at Home UK.
HCAH will use this investment to build its presence in the physical rehabilitation and recovery through its service range of Home ICU, Inpatient rehab in transition care centers, digital and home rehab; and rehab equipment, elderly care services including long term nursing, palliative and attendant care services and Chronic Disease Management services including screening, diagnostics, patient support, adherence programs in association with leading pharma companies. All these services are delivered through HCAH’s proprietary technology platform in homes, centers and digitally.
Vivek Srivastava, Co-Founder and CEO, HCAH said, “The out-of-hospital care model is witnessing rapid growth as more and more countries are leveraging the model to deliver best in class health outcomes, and quality of life. Our solution delivers better outcomes at a lower cost, while increasing access by the use of data and technology.”
“The investment from ABC is a significant step for the out-of-hospital care segment in India and will allow HCAH to build 1,500 beds in transition care and long-term care focused on physical rehabilitation and recovery, and long-term care for elderly,” added Srivastava.
HCAH has handled nearly 1,000,000 patients with almost 97% recovery rate during the pandemic and worked closely with the Government of Delhi, Punjab and Karnataka to deliver services at scale, said the company in a statement.
Sugandhi Matta, Chief Impact Officer, ABC said, “By providing quality out-of-hospital care to patients at home, HCAH contributes to the quality and access of health services by ensuring the continuum of care while easing the burden on the existing healthcare system.The COVID-19 pandemic has further highlighted the need to augment the conventional hospital-centric healthcare model with convenient and clinically focused care outside of the hospital. We look forward to supporting HCAH as it continues on its mission to enhance access and quality of healthcare in India.”
Gaurav Burman, Managing Partner, Burman Family Holdings said, “The total “Out of Hospital Care” addressable market in India is estimated at $35 billion and is forecasted to grow to $ 85 billion by 2025. We founded HCAH nearly a decade ago to address this opportunity and remain confident that HCAH is the best team with the best platform in India to address this opportunity. We are delighted that ABC have joined us as partners and investors in HCAH, we shall look forward to benefiting from their expertise and guidance.”
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