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HelpMeDoc in talks to raise Series A funding

Our Bureau, Mumbai
Thursday, June 11, 2015, 17:10 Hrs  [IST]

HelpMeDoc.in (HMD), a unique one stop platform for all kinds of health care needs, is currently in talks to raise Series A funding from VC firms to expand its reach across India.

HMD’s USP lies in integrating the entire healthcare chain of services, and bringing doctors, patients, diagnostic centers, pharmacy stores and health insurance providers together through one platform. It helps doctors in knowing and managing their patients’ treatment history in order to treat them better and simultaneously assists patients in selecting the right doctor and labs according to their needs and budget.

Founded around two years ago by Suvro Ghosh and Manisha Saxena, who have been working as business partners for more than ten years, key products and services offered by HMD include Doctor Search, DocPractice management software for doctors, back-end facility for maintaining records for both patients, doctors, pharmacy stores and diagnostic centers. The entrepreneurs while conducting workshops in the healthcare sector felt that the process of accessing healthcare can be much simpler if only there was an integrated platform for all the services. After realizing the scope for such a platform they started working on building and launched it in January 2015. HMD currently has over 7000+ empanelled doctors, and handles over 500 appointments per month.

“HMD makes medical assistance a convenient and seamless process for patients as well as doctors,” says Suvro. He further adds “We have a good positioning in the Delhi NCR market and our immediate aim is to expand operations to more cities and aggressively tie-up with doctors, diagnostics centers, pharmacy stores, and health insurance companies. Of late there has been a lot of development in the segment, few companies have got funding and these companies are on the road to better organize the sector. Through our core focus on integrated play and on providing effective solutions to various healthcare stakeholders, we hope to achieve a substantial growth for the company in the near future”.

As per the survey conducted with the real time users of the HMD's portal, they find the portal user friendly, informative and comprehensive features like doctor search, lab rate comparisons, smoothness of accessing digitized records, etc as some of the best the industry can offer

The Indian healthcare stands at $80 billion in 2014, and is expected to grow at 23% per annum to reach $280 billion by 2020. Rising income levels, an ageing population, growing health awareness and changing attitude towards preventive healthcare is expected to boost healthcare services demand in the future.

Healthcare providers are increasingly adapting new technologies to offer better healthcare services, reach inaccessible regions, and improve operational efficiency. HMD's founders believe that their products’ target market stands at around $11 billion and is expected to grow more than 25% per annum. With the right focus and resources, the company is expected to grow exponentially in the next 2 to 3 years.

The company is being advised by Nucleus Partners, a specialized financial advisory firm, for the fund raising process.

 

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