Portea raises INR 240 crores
The healthcare sector in India is booming. Just days after Practo acquired Insta Health Solution (link), Bangalore-based Portea medical has now raised the funding of over Rs.240 crores in a round that was led by Accel partners and also saw the participation of Qualcomm, Ventureast and World Bank’s International Finance Corporation.
Portea specialises in home based healthcare-or “healing at home”. They provide doctors, nurses and physiotherapists for home visits and also allow for lab tests and medical equipment rentals. The company is backed by one of India most famous serial entrepreneurs – K Ganesh and Meena Ganesh.
There are many factors that are driving the growth in this sector. The rising middle class has a high propensity to spend on health care. The specialty hospitals have already accustomed consumers to pay high prices for any kind of guaranteed quality. However, for many consumers home-based healthcare is still preferable in cases where they do not live near big hospitals or in (increasing) cases where children are living away from home and while they can spend money, they are unable to devote time for the required care of their parents. Technology has also become an active enabler in these services so that at the press of a button, assistance can arrive in a short time