Singapore based ABC World Asia invests Rs 112 crore in health-tech firm HCAH, Health News, ET HealthWorld

Singapore based ABC World Asia invests Rs 112 crore in health-tech firm HCAHNew Delhi: Health-tech Company HCAH (HealthCare at HOME) has raised Rs 112 crore from Singapore based private equity fund ABC World Asia (“ABC”) to build a hospital healthcare delivery platform. HCAH aims to use this investment for physical rehabilitation and recovery through its service range of home ICU, inpatient rehab in transition care centers including digital and home rehab and elderly care services.It will further invest in palliative and attendant care services, chronic disease management services including screening, diagnostics, patient support and developing adherence programs in association with leading pharmaceutical companies. Most of the services mentioned are being delivered through HCAH’s proprietary technology platform in homes, centers and digitally, which it aims to improve through investment.

HCAH is backed by Burman family, Quadria Capital and Founders of Healthcare at Home UK.

Speaking on the investment, Vivek Srivastava, Co-Founder and CEO, HCAH said, “The investment from ABC is a significant step for the out-of-hospital care segment in India and will allow HCAH to build 1,500 beds in transition care and long-term care focused on physical rehabilitation and recovery, and long-term care for elderly. HCA will invest in its technology and data capabilities to improve efficiency, build scale and develop better products. HCAH will be well capitalized and be keen to find acquisitions to accelerate its mission.HCAH has handled nearly 1,000,000 patients with almost 97% recovery rate during the pandemic and worked closely with the Government of Delhi, Punjab and Karnataka to deliver services at scale.”Talking about the impact that the investment will have on the healthcare sector, Sugandhi Matta, Chief Impact Officer, ABC said, “By providing quality out-of-hospital care to patients at home, HCAH contributes to the quality and access of health services by ensuring the continuum of care while easing the burden on the existing healthcare system. The positive impact it creates on both an individual and systemic level closely aligns with ABC’s key investment theme of ensuring better healthcare for all. The COVID-19 pandemic has further highlighted the need to augment the conventional hospital-centric healthcare model with convenient and clinically focused care outside of the hospital. We look forward to supporting HCAH as it continues on its mission to enhance access and quality of healthcare in India.”

The total “out of hospital care ” addressable market in India is estimated at US$35 billion and is forecasted to grow to US$ 85 billion by 2025, informed Gaurav Burman, Managing Partner, Burman Family Holdings.

The FICCI and KPMG report titled ‘COVID-19 Induced Healthcare Transformation in India’ highlighted that the COVID-19 increased adoption of remote care and digital healthcare systems across the globe. The report underlines the health crisis and the subsequent response management in India and how these interventions should not be one-time efforts but have the potential to create a long-lasting impact on the Indian healthcare system. The investment aligns with the digital transformation forecasted for India, which can help the out-of-hospital care segment in the country while it faces a shortage of hospitals amidst rising COVID cases.

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