Cricketer Yuvraj Singh’s investment fund YouWeCan Ventures has acquired a stake in online healthcare marketplace Healthians
Healthians.com helps users discover affordable healthcare, using quality and price transparency. It aggregates diagnostic labs, crowd sourced sample collectors and nearby doctors, as well as makes patients’ medical records available online.
In another industry first, apart from tying up with leading medical labs chains, it is creating Healthians branded lab network in association with labs that will offer standardised pricing, processes and user experience.
Speaking about the investment, Yuvraj Singh said
Having gone through life threatening medical condition, I’m extremely keen to promote preventive healthcare in India. While most of us today have an online social profile or an online professional profile, there’s a large need to use technology to create & track individual health profile. I’m excited to see Healthians trying to solve this problem.
Raj Airey, Founding Partner, Healthstart – an existing investor in Healthians said
We like Healthians’ founders’ vision and execution, and the fact that they’re receiving strong support from entire healthcare ecosystem. Best labs, top hospitals, leading chemists and doctors are tying up, which is a strong validation of the business model. Health tech space is of prime significance to us, and we expect Healthians to become a dominant player through organic and inorganic route over next few quarters.
Speaking about the funding, Deepak Sahni, Founder & CEO, Healthians said
For a healthcare brand, there can be no better partner that Yuvraj Singh, and we are delighted to have him on-board. We will do our best to achieve his dream of taking preventive healthcare to everyone across the entire country.
Healthians’ proprietary self-assessment software ‘Healthians PLUS’ has been created with the help of leading doctors along with software engineers. Users fill online questionnaire, followed by free personal visit by a Wellness Consultant for further screening. The software establishes user’s personal health score, recommends future health checks, and tracks each user’s health over his lifetime.
Diagnostic market in India is approximately $5bn industry, with over a million tests being conducted daily according to an IBEF 2015 study. While the scope of Healthians’ service is large, the business model is asset light.
The hyper local sample collectors and doctors are crowd sourced. Apart from preventive care, the site also caters to chronic patients and patients recommended tests by Doctors.
The portal has received good response from users, with huge savings over original lab prices. The initial growth has been 100 percent MOM and recently it won ‘eTailer of the year’ award for Healthcare category.
Future Plans
In an industry first, company is targeting to form a network of over 1000 Healthians’ branded labs & help them in enhancing capacity utilisation through demand aggregation and technology support, with the first ones slated to come up in over 20 cities including Delhi, Bangalore, Mumbai, Hyderabad, Pune and Chennai. It also plans to tie up with 2000 pharmacy stores to enable them to offer Diagnostic Tests along with medicine sales to their customers.
While currently focused in Delhi NCR, the company is already catering to customers in 22 cities in India and plans to expand this to over 50 cities. The company plans to profile over 1 million users for HealthiansPLUS, crowd source over 1000 mobile Health Advisor’s, and conduct more than 200,000 tests in next 8 to 12 months.
[Image Credit – Healthians]