Hyderabad: Portea Medical, one of India’s largest home healthcare provider of in-home medical care is planning to expanding in the area of diagnostics, mental wellness and e-consulting in coming future.
Speaking with Business Standard, Meena Ganesh, Portea Medical chief executive officer and managing director informed about their plans to get into the diagnostics, mental wellness and e-consulting market soon.
Portea works with leading hospitals, experienced doctors, nurses, diagnostic centers and others to improve health outcomes for patients.
To make its presence strong in the market, Portea had snapped up three companies in the past two years. In end of year 2015, it acquired specialty pharmaceutical distributor Medybiz Pharma and PSTakeCare, a tech player that helps people connect with surgeons in year 2016.
Talking about the company’s raising and their future aims, Meena told that, till the date the company has raised 50 million US dollar from multiple investors such as Accel, Ventureast, Qualcomm and IFC, among others.
“We acquired three companies in 2016. And any further acquisition we will be looking at new capabilities that we do not have and the customers want. That’s what we are looking. There are areas such as diagnostics, mental wellness physical wellness and e-consulting. Those are the areas we are looking at (for acquisitions),” said Ganesh.
“In 2017, we may consider raising another round of fund. So far we have raised USD 50 million. The funds will be used for acquisitions and expansion for both inorganic and organic growth,” Meena told reports on the sidelines of BioAsia-2017, reports BS
“Many of the cities where we are present are breaking even at operations level. So we are very pleased with how we are progressing. Over all company level we expect in 2018 we will breakeven. I would say top five cities are breaking even.” “We are in a growth phase now and will be focusing on organic as well as inorganic growth .”she added.
“Right now we are looking at primarily in India. And may be in future Southeast Asia is the next big growth area we see. Not in 2017. But in the coming years.”