HCAH Raises INR 112 Crore from Impact Investor ABC World Asia The funds will be used to build presence in the physical rehabilitation and recovery service range
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Healthtech company HCAH has raised INR 112 crore from ABC World Asia, 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 physical rehabilitation and recovery through its service range of home ICU, Inpatient rehab in transition care centers, digital and home rehab and rehab equipment. Elderly care services including long term nursing, palliative and attendant care services and chronic disease management services including screening, diagnostics, patient support, adherence programs in association with leading pharma companies, will also be addressed. 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, said a statement.
"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. HCAH will be well capitalized and be keen to find acquisitions to accelerate its mission. HCAH has handled nearly 1,000,000 patients with an almost 97 per cent recovery rate during the pandemic and worked closely with the Delhi government, Punjab and Karnataka to deliver services at scale," said Vivek Srivastava, co-founder and CEO of HCAH.
"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," said Sugandhi Matta, chief impact officer of ABC.
