Healthcare has emerged as one of the largest service sectors in India, employing about 4 million people. The sector generates an annual revenue of around $30 billion. Mint profiles four healthcare start-ups that help patients choose from a large pool of doctors and make appointments online.
Company: Angels Health Pvt. Ltd.
Entrepreneur: Debraj Shome
Education: University of Utah
Shome’s father suffered from lung cancer, and doctors in India said he had only about six months to live. Not one to give up easily, Shome, a Plastic Surgeon, finally found a doctor in the US who was conducting a research on the type of lung cancer that his father was suffering from. “This is when I decided to come up with the concept of an online hospital that connects patients to doctors across the globe,” said Shome over the phone.
The company was started with an initial investment of Rs. 50 lakh, HDFC Private Equity Fund invested Rs. 2.5 crore in 2011 followed by an investment by the department of science and technology, government of India. The company allows patients to book doctor appointments and also have a medical team that makes suggestions to patients about the best doctor available. About 5-7% of the patients who use the service stay overseas, and the portal has 350 doctors listed across 15 countries.
The company also has over 21,000 diagnostic centres on its site. The company receives a payment from the patient and keep a certain percentage as service fee and transfers the amount to the doctor.
Consultation charges start from Rs. 250 in India and about $100 abroad. Audio and video consultation services are provided by the company’s technology solutions.
“We are looking to raise a first series A round of funding,” added Shome. The company is seeking to invest in marketing brand building initiatives and strengthening operations.