Consumer healthcare provider Portea Medical has now expanded to providing specialized and critical care services in select cities, the company said in a statement. The offerings include critical care at home, respiratory services, sleep apnea care, palliative care, cancer support services, post-trauma care, specialized rehab services, and end-of-life care.
Note that a year ago, the company acquired Health Mantra which provided home healthcare equipment and for sleep apnea care and respiratory disorder. The size of the deal was not disclosed.
- The company explains that critical care in a hospital ICU can cost between Rs 30,00-50,000. Portea Medical claims to offer these services at home at 75% cheaper, costing a patient between Rs 6,500-Rs 12,000 per day.
- The service is currently available in Delhi NCR, Mumbai, Pune, Bengaluru, Kolkata, Hyderabad, and Chennai.
- All services will be backed by Portea’s “connected care” platform, which the company says will enable remote monitoring.
Portea Medical CEO and MD Meena Ganesh said that critical and specialized care “was an obvious next step” for the company as it received requests from existing customers for additional services such as continuous patient monitoring, medical devices, supervision, etc. It has brought onboard Dr Vishal Sehgal, the former country head of medical services at Philips Home Healthcare as country head in October.
Portea’s critical care plans consist of consultation with physicians, detailed clinical checks, remote patient support, among other services. The company will soon provide hemodialysis and chemotherapy at home, and remote monitoring and management of chronic diseases. Currently, Portea Medical’s services include lab services, pharma delivery, equipment/device rentals, and providing personnel for home healthcare.
- Portea claims to have served 2.5 million patients across 16 cities including Bangalore, Delhi NCR, Mumbai, Pune, Kolkata, Chennai, Hyderabad, Vijayawada, Ahmedabad, Lucknow, Chandigarh, Jaipur, and Indore.
- It claims to manage 120,000 patients every month
- Partnerships with 50 hospitals, pharmaceutical and insurance companies
Previous acquisitions and funding
- January 2016: Acquired a majority stake in doctor aggregator platform PSTakeCare in an all cash deal.
- November 2015: Acquired MedybizPharma for an undisclosed amount in an all cash and stock deal. The startup provided chronic disease management support, and included therapy compliance support and prescription refills.
The company has received a total funding of $72.5 million, per Crunchbase.
- January 2017: $26 million in a round led by new investors Sabre Partners and MEMG CDC
- September 2015: $37.5 million round led by International Finance Corporation
- July 2014: Strategic investment from Qualcomm Ventures, amount undisclosed
- December 2013: $8 million in Series A funding from Accel Partners and Ventureast
- Care24: Provides nurses, attendants and physiotherapy at home, last investment was $4 million from SAIF Partners in January 2016
- NRI Family Health: Provides healthcare services for relatives of NRIs living in India