Expedient Healthcare Marketing Pvt. Ltd, which runs an online diagnostics and wellness startup called Healthians.com, indicated on regulatory filings that the company has allotted 50,540 debentures of INR 1000 each on February 06, 2018.
The investors consist of Walter T Beach, Director-The Bancorp Inc, Jean Pierrie Mastroiaani, Vietnam-based Angel Investor, existing investor Mamoru Taniya and Founding Partner Asuka Asset Management. The company previously raised INR 51 Cr from a set of investors which included Asuka Holdings, Beenext, Beenos, Digital Garage, M&S Partners, and YouWeCan Ventures.
Healthians is also backed by cricketer Yuvraj Singh from an early-stage funding from his YouWeCan Ventures. The company, founded by Deepak Sahni is an asset-light diagnostics and healthcare company which operates in Delhi-NCR. Since its inception in 2014, Healthians.com has become India’s largest health test at home service, according to the company’s website. It aims at creating a new benchmark for very high quality at honest prices. Healthians make use of 46 hi-tech touchpoints technology to assure quality collection and testing across its tightly controlled network of labs and hundreds of full-time phlebotomists.
For instance, the company makes use of Coolsure and Blackcode technology which ensure sample transportation in an environment unbiased from heat, sunlight, contamination and human error. They also utilize Smartprick technology to ensure minimum pain by precision laser guided blood collection.
Healthians now boasts employing more than 250 phlebotomists, carrying out more than 3,000 test, touching above 100,000 lives and generating more than a million health profiles. Healthians has served over 5,00,000 families in Delhi NCR in last 2 years. The company is now spreading its reach to Tier 2 cities, starting its journey from Lucknow, Kanpur, and Jaipur.
“Since our launch in Lucknow and Kanpur, we have received an overwhelming response. We have already served 5000+ families in Lucknow and Kanpur in the last 2 months. The diagnostic services in Tier 2 cities are largely catered by unrecognized players. The customer is being charged heavily for subpar lab results by local labs. We challenge this prevailing practise. Our aim is to provide the highest quality of diagnostic services to every Indian at an honest price,” said Ashish Mishra, Head Product and Marketing, Healthians.
India’s healthcare market is set to reach the value of $372 billion by 2022 due to growing lifestyle diseases and an increasing demand for healthcare delivery systems according to a report prepared by Assocham and research firm RNCOS. The report further states that the market stood at a value of $110 billion in 2016.
Moreover, the market for medical devices in India was valued at $4 billion in 2016 which is likely to grow to an $11 billion market by 2022 driven by a growing elderly population, a small increase in medical tourism and gradual decline in the cost of medical services, the survey noted.
The current online healthcare market already boasts a vast amount of players fighting for their portion of shares on the market. For example,
- LiveHealth is a Pune-based startup founded in 2013 which works as a Management Information System (MIS) for healthcare providers. The startup specializes in collecting samples, managing patient records, diagnosing them and generating reports.
- Lybrate is a startup based in Delhi, which helps patients find doctors near them and connect them to the doctors instantly. Founded in 2013, the app serves as a medium for patients to communicate with a network of doctors while keeping their anonymity untouched.
- Practo is a one-stop destination for appointments, consultations, health records, insurance and order medicines online. Founded in 2007, they initially were only a Software-as-a-Service platform for doctors.