NVP backs Indian healthcare clinics with $4.5m

Bangalore-based NationWide, which was established in 2010, will use much of the fresh capital expand its operations and set up 120 new clinics over the next 18 months.

Santanu Chattopadhyay, founder and managing director at NationWide, said the clinics will be opened in strategic locations in the peripheral areas of Bangalore. A total of 20 will be hub clinics and 100 will be satellite clinics.

"NationWide aims to bring the best international practices in primary healthcare to India, spearheading a paradigm shift in India's healthcare delivery system," added Mohan Kumar, executive director at NVP India. "The company's strong product offering, with extensive use of technology, combined with its attractive business model and market traction, make it well poised to disrupt the traditional primary healthcare market in India."

NationWide provides community services such as personalized home visits by doctors and "anytime-anywhere" access to medical records for subscribed members. It also offers corporate services, including on-site consultations and health education initiatives.

India's primary healthcare market is currently estimated to be worth $40 billion and is forecast to surpass $200 billion within the next decade. Earlier this week, Dubai-based healthcare services provider DM Healthcare - which is backed by Olympus Capital Asia Investments - announced plans to invest INR15 billion ($270 million) in India. It hopes this will help boost the company's revenues by 40% in the coming financial year.

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• Topics
• Healthcare
• Expansion
• South Asia
• India
• Norwest Venture Partners
• Growth capital
• healthcare