Credihealth to raise around Rs 100 crore to fund expansion

Medical assistance company Credihealth is looking to raise around Rs 100 crore to fund its expansion to up to 60 cities in the country by 2020, a top company official said.

The company is present in 12 cities with 450 hospitals and 25,000 doctors on its platform.

"We are looking to raise about Rs 100 crore in next few months in series A funding. It would be used as growth capital to expand our presence to up to 60 cities by 2020," Credihealth Founder and MD Ravi Virmani told.

The funds would be used to expand the business in different geographies, to introduce new products, services and to invest in technology, he added.

"Our logic of expansion are places which have healthcare delivery infrastructure. In the first phase we are looking at cities such as Indore, Ahmedabad, Cochin, Pune, Lucknow, and Guwahati," Virmani said.

At present, people with serious illness who are looking for tertiary care, approach the company's platform as this area has issues of lack of knowledge and transparency, he added.

The company helps the patient by being in constant touch from searching for the doctor to scheduling appointments, diagnostics, surgeries and post-operation care, Virmani said.

"But going forward we will also be entering secondary and primary care," he added.

About the business model the company follows, Virmani said: "We don't charge the patients, service is free for the public. The hospitals pay us for being listed on our website."

Credihealth started its operations in 2014. It has 90 people including 50 doctors on its rolls.