Portea Medical and Home Healthcare in India

Healthcare is one of the fastest-growing sectors of India. Read about the market leader of Indian Home Healthcare - Portea Medical.

Healthcare is one of the fastest-growing sectors of India. But one section in India’s healthcare industry that is at its very nascent stage is Home Healthcare. This section of healthcare providers help patients manage chronic diseases with hospital-like services at home. RedSeer Consulting says that the Indian home healthcare industry will reach $13 billion by 2025.

One leader in this domain is Portea Medical. It was started in 2013 by Meena Ganesh, Vaibhav Tewari and Ganesh Krishnan. All three of them are serial entrepreneurs with experience in making successful businesses. Meena has over 3 decades of experience in various industries including healthcare. Ganesh is behind the establishment of four successful green field ventures. Vaibhav was the co-founder and CEO-India at iSeva, a leading BPO Company.

They decide to shift the healthcare experience from the healthcare givers to the healthcare receivers. Their patient-centric solution helped develop a range of offerings from primary healthcare and newborn care to post-operative care and elderly care. They even have lab tests, doctor consultations and medical equipment rental services at their disposal. 

They have connected and hybrid plans for their customers. They even have a subscription-based scheme. Majority of their revenue comes from its pay-per-service model. Their growth trajectory in FY2021-22 was around 20% to 25%. Their projected growth for FY2022-23, is 30% to 40%. 

In October 2021, they were present in 34 Indian cities. By 2022, they plan to enter 50 cities and by March 2023, they plan to establish themselves in 100 cities. In 2015 they acquired Medybiz Pharma and in 2016 they acquired Health Mantra. In 2013, they received $9 million in their Series A round and in 2015 they raised $37.5 million in Series B round led by Accel. In their Series C round, they raised $26 million led by Manipal Group and Sabre Partners.

In September 2021, they secured a commitment for $7.7 million by the United States International Development Finance Corporation (DFC). They plan to use the funds to expand their workforce and area. Will Portea Medical be able to provide the benefits of home healthcare to millions of Indians?

Tags : #PorteaMedical #MeenaGanesh #VaibhavTewari #GaneshKrishnan #homehealthcare #healthcarestartup #MedybizPharma #HealthMantra #Accel #ManipalGroup #SabrePartners #MediSpeak #smitakumar #medicircle

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