Healthtech player HCAH acquires SuVitas Holistic Healthcare
Hyderabad: The National Capital Region (NCR)-based health-tech company HealthCare at HOME (HCAH) has acquired the Hyderabad and Bengaluru-based Transition Care Company, SuVitas Holistic Healthcare, for an undisclosed amount, making SuVitas a 100 percent subsidiary of HCAH.
This will help HCAH to build India's largest and most clinically accomplished chronic and pre and post hospital focused healthcare delivery platform which acts like a 'Hospital outside of the Hospital,' the healthcare company said in a release, reports UNI.
According to a recent media report in Times of India, with this acquisition, SuVitas will become a 100 percent subsidiary of HCAH, and its CEO, Antra Bhargava, and one of the company's founders, Dr Ramesh Byrapaneni, will join the HCAH board of directors.
"Since inception, we have catered to over 20 lakh patients, including about 10 lakh patients during the COVID time, and currently, we cater to about 1.5 lakh patients in a month. We have a presence in over 70 cities, " Vivek Srivastava, Co-Founder and CEO, HCAH stated.
"Our intention is to take this business to 1,500 beds in the next 4-5 years. In revenue terms, we expect to move up from over INR 100+ crore currently to about INR 800-1000 crore in the next 4-5 years using both organic and inorganic strategies, "Srivastava added.
HCAH was started in 2012 by Vivek Srivastava and is backed by the Burman Family (Promoters of Dabur), Founders of Healthcare at Home UK and Quadria Capital, a Singapore-based healthcare fund. HCAH delivers healthcare services, including home ICU, chronic disease management, step-down care, post-operative care, home cancer treatment, home dialysis, physiotherapy, attendant services, and elderly care, and other ancillary services such as labs, equipment, and pharmacy. HCAH is the largest player in the country delivering patient support programs and patient assistance programs to pharmaceutical and medical technology companies. All these services are delivered using its proprietary technology platform in a physical (physical+digital) manner.
SuVitas started 50 private rooms in 2015 and currently it runs two state-of-the-art facilities in Hyderabad and Bengaluru with over 100 private beds. SuVitas primarily offers inpatient care at their state-of-the-art centres, but was one of the first to launch virtual therapy at the start of the pandemic.
Regarding the acquisition, Antra Bhargava, CEO, SuVitas told TOI, "India has an elderly population of 104 million, 74 million diabetics, 1.8 million stroke patients, and 300,000 cardiac/road accident surgery instances. The country has only 2.3 ICU beds per 100,000 patients. Clearly, the market is huge (estimated at over $3 billion with a CAGR of over 25%), and to fill this massive gap, we need more accessible and affordable infrastructure delivered faster than the traditional healthcare growth rates. Given the obvious synergies and the HCAH vision for India, all of us at SuVitasare excited to merge with HCAH India."
