Portea Medical has acquired Health Mantra, a company which offers home healthcare equipment and services for sleep apnea and respiratory disorder patients, for an undisclosed cash and stock amount. The acquisition will let Portea strengthen its offerings in sleep medicine, respiratory care, geriatric care and orthopedics.
Health Mantra was founded by Ashish Bhutada and Anoop Kodoli in 2009 in Bangalore and currently has offices in Chennai, Hyderabad, Calicut and Pune. It has over 40 biomedical engineers, physiotherapists and service staff, and also provides respiratory/oxygen equipment and supplies to hospital ICUs. In a press statement, Bhutada said, “Our alignment with Portea provides us a wider canvas to expand our operations across product lines and locations.”
PSTakeCare stake: In January, Portea acquired a majority stake in doctor aggregator platform PSTakeCare in an all cash deal. Post this deal, PSTakeCare would expand its services from few areas of Mumbai to other metro cities and remain as a separate entity. The platform lets users search for doctors nearby based on the service/speciality, hospital or doctor name and book an appointment.
MedybizPharma acquisition: In November 2015, Portea acquired MedybizPharma for an undisclosed amount in an all cash and stock deal. The company said then that the acquisition would help it establish a specialised pharma arm to deliver care to patients with chronic conditions.
Portea funding: In September 2015, Portea raised $37.5 million in a Series B round of funding led by existing and new investors. At the time the company mentioned it would use the funds for expanding to other cities in India, hiring, technology and to expand further in Malaysia. Prior to this, it had raised Rs 48 crore ($8 million) in 2013 and from Qualcomm Ventures, which made the strategic investment in July last year.
Portea claims to have over 5,000 staff members and covers 70,000 home visits monthly across the country, with a focus on general primary health care, post hospitalisation care, chronic disease management, diagnostics, medical equipment hire etc. It partners with 60 hospitals and has a network of physicians across the country.
Founded by Zachary Jones and Karan Aneja in 2012, the company was acquired by husband and wife duo Krishna and Meena Ganesh in July 2013. As of now, the platform operates in 25 cities in India including Bangalore, Chennai, Delhi, Mumbai, Pune, Goa etc., as well as four cities in Malaysia. It claims to process 2,000 visits to patient homes, although it does not mention how many of these actually use the service.