India’s Hospals funding for expansion

 

Through its online platform, Hospals enables medical tourists visiting India to choose hospitals, book consultations, surgeries, and buy medicines and manage their various travel and accommodation requirements such as cabs, hotels, and flights among others.

It has recently received US$1.5 million from Spiral Ventures and Venture Catalysts. The company said that the fresh funds will be used for growth and expansion. Currently it is managing over 200 patients per month.

Hospals also provides auxiliary services such as estimates of medical procedures, visa service, and translators to deliver a seamless experience to its customers in their preferred language. The article says the company was incubated at Technology9labs, and has rapidly expanded across CIS countries, building on its strong reputation for transparency and its dedicated focus on ensuring high customer satisfaction.

"We’re confident that within the next 12 months, Hospals will reach USD 20 million in revenues, making it the front-runner to emerge as Asia’s largest medical tourism company," said Apoorv Ranjan Sharma, Co-founder & President at Venture Catalysts.

"Medical tourism is one of most important pieces of the Indian healthcare domain and the Hospals’ team has made significant headway here, by connecting doctors in the Middle East, Africa, former CIS countries, China and SE Asia to Indian surgeons and hospitals for their patients in their respective countries. With a multilingual, tailored mobile-technology based platform, Hospals has successfully created the solution which addresses the pain points in this ecosystem. Japanese corporates too, are extremely bullish for partnering with healthcare companies in India and Spiral Ventures can be the vital facilitator for building possible partnerships bringing immense value to Hospals," said Yasuhiro Seo, Partner at Spiral Ventures.

The investment will help Hospals to expand its presence within India, as well as to scale its operations in lucrative international medical tourism markets such as the Middle-East and Africa. The team has till date served over 6,000 patients from 14 countries, and they are apparently growing rapidly to take a significant market share in this space.

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