Health-tech company HCAH (HealthCare atHOME) has raised Rs 112 crore from ABC World Asia (“ABC”), a Singapore based impact-focused private equity fund, to help build India’s largest and most clinically accomplished out of hospital healthcare delivery platform. HCAH will use this investment to build its presence in the (i) Physical rehabilitation and recovery through its service range of Home ICU, Inpatient rehab in transition care centers, digital and home rehab; and rehab equipment (ii) Elderly care services including long term nursing, palliative and attendant care services (iii) 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. HCAH is backed by Burman family, Quadria Capital and Founders of Healthcare at Home UK.
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. India has only one bed per 1,000 population and hence transition care beds and home care are an essential need for recovery and rehabilitation, especially after acute intervention in a hospital. In the US, for each tertiary bed there is one bed available for rehab and recovery (Transition Care beds), the same is practically non-existent in India. Over 20% of Indians suffer from NCDs (non- communicable disease) which translates to 60% of deaths being caused due to NCDs in India. India has 14cr elderly people, the second largest in the world. All this means that there is an urgent need to invest in innovative solutions to address these challenges. We are delighted to have ABC as investors, and partners in our enterprise. As impact focused investors they share our philosophy of delivering the best care while increasing affordability and access. 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. HCAH will invest in its technology and data capabilities to improve efficiency, build scale and develop better products. HCAH will be well capitalized and be keen to find acquisitions to accelerate its mission. 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.”
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 positive impact it creates on both an individual and systemic level closely aligns with ABC’s key investment theme of ensuring better healthcare for all. 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 US$35 billion and is forecasted to grow to US$ 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.”
The FICCI and KPMG report titled ‘COVID-19 Induced Healthcare Transformation in India’ highlights that the COVID-19 crisis proved to be a catalyst for increased adoption of remote care and digital healthcare systems across the globe. The report underlines the health crisis and the subsequent response management in India and how these interventions should not be one-time efforts but should have the potential to create a long-lasting impact on the Indian healthcare system.