Ayu Health gets $6.3-million funding from Vertex, Stellaris and others
The capital will help Ayu Health expand its hospital network and build new tech solutions for insurance processing, efficient procurement and clinical quality management at network hospitals, according to a statement released on Thursday.
Founded in 2019 by Himesh Joshi, Arjit Gupta and Karan Gupta, Ayu Health has more than 20 hospitals in its network in Chandigarh and Bengaluru. The startup enables its network hospitals with technology to maintain high clinical standards and provide a better patient experience at an affordable cost. The three founders had previously founded used-goods marketplace
Zefo, which was acquired by Quikr in 2019.
“Ayu Health expects to grow its business 10x in FY22 and expand its bed capacity to 5,000+ beds across six cities by December 2022,” the release said.
“Our mission at Ayu is to democratise hospital care by using technology to improve both the quality, efficiency and reach of stand-alone hospitals,” said Joshi. “Our partner hospitals use our technology platform to improve clinical quality, procure medicines and consumables, and process insurance claims; this results in better clinical outcomes, a smooth in-hospital experience and transparent pricing for patients.”
The pandemic has brought to the fore the need for better healthcare infrastructure in the country. With digitisation and technology led innovations getting a shot in the arm during the pandemic, a lot of businesses are gaining traction and attracting capital from risk investors.
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“The company’s plan to tech-enable the $100 billion private hospital market and create India’s largest branded hospital chain resonated deeply with us,” said Ritesh Banglani, Partner at Stellaris Venture Partners. “With their technology-led approach, they can provide high-quality and affordable hospital care to the mass market of patients.”
( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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