Plans to invest USD 15-20 million reaching 10 Indian metro clusters over the next 3-5 years
Medwell Ventures led by Vishal Bali and Dr. Ferzaan Engineer has acquired Bengaluru-based Nightingales Home Health Services for an undisclosed sum. The acquisition marks Medwell’s foray into Indian Healthcare market. 18-year-old, Nightingales Home Health Services, currently provides 53,000 patient bedside nursing days per annum, 24,000 medical services per year and has more than 5,000 families subscribing to its annual care plans. Medwell plans to expand the services of Nightingales with a Speciality Home Healthcare focus on Pulmonology, Cardiology, Metabolic diseases, Neurological health, Orthopedics, Geriatrics, Rehabilitation and Post-Operative Surgical site management.
“The future of patient-centric care will incorporate Speciality Home Healthcare as a key element and our team is excited to launch a pioneering new venture in this space” said, Vishal Bali, Chairman, Medwell Ventures. Medwell expects to invest USD 15-20 million in this business, increasing its subscriber base to 500,000 families and reaching 10 Indian metro clusters over the next 3-5 years.Lalit Pai, a member of the Medwell founding team will lead the venture as CEO. Co-founders of Nightingales, Dr. Radha Murthy and Mr. Premkumar Raja will continue as members of the Advisory Board of Medwell Ventures.
The company will also appoint a clinical advisory board consisting of national and international specialist to put in place standard protocols for specialised home healthcare.At present the company employes 150 trained healthcare providers. India’s Home Healthcare market is pegged at USD 2 billion and will see exponential growth in the next 5 years.
EH News Bureau
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