Portea Medical, the biggest platform for home health care visits in India, has raised $26 million in series C for funding the expansion of its service range.
Portea Medical which is the biggest platform for home health care visits in India has raised about $26 million in series C for funding the expansion of its service range. The series C round this time was led by MEMG CDC and Sabre Partners, with participants coming from the returning Accel investors (which was leading Portea’s Series B in the past two years), the Qualcomm ventures and world bank groups international finance corporation.
At the moment Portea has managed to raise about 72.5 million dollars according to a press statement. Managing partner Rajiv Maliwal and Sabre Tarner, founder, have played a key role in the establishment of the healthcare consumer-led concept, according to Portea Medical. They added that they are looking forward to working with them in the transformation of healthcare services offered in India and beyond the hospital environment.
Home healthcare demand is growing at a fast rate in India due to some factors such as the aging population and the social changes that imply that few working adults are in a position to take care of their elderly relatives. Portea Medical main competitors include care24, healthcare at home, and nightingales home health services.
One of the Portea Medical areas of specialization is a plan for eldercare that is usually billed annually because assisted living communality in India is a relatively new concept. Since its inauguration, the medical health care provider has managed to expand into three other different segments that include chronic disease management, primary care, and post-operative care.
Portea Medical also partners with other healthcare providers including over fifty hospitals to cater for patients who can’t manage to travel for checkups, such as the elderly or those who are physically disabled, or those who want to avoid the crowded hospital. Other products for this healthcare center comprise of lab services where test samples are obtained from patients at home and taken by Portea’s couriers as well as the B2B services for the organization who wish to offer their employees with on-site health screening and vaccination program. Portea has stated that they have managed to serve two hundred and fifty customers at the moment in sixteen cities.