Medwell Ventures to open 8 branches in Mumbai, Pune

Medwell Ventures, a leading home healthcare startup founded in 2014, is looking at expanding its presence in Mumbai and Pune by setting up another eight branches in the next couple of years.

Medwell Ventures has one branch in Mumbai. Before the end of this year, it will be opening another branch in Mumbai. “We will be investing close Rs 5 million per branch, and will be looking at raising Series B round of funds during this year, to expand our operations in other cities,” said Vishal Bali, chairman of Medwell Ventures.

The company had raised $10 million from Fidelity Growth Partners India (FGPI) and Fidelity Biosciences, Boston in 2015. Besides this, the company has already cost-effectively utilised $3 million, which the founders have invested while setting the company in 2014.
 
Speaking to Deccan Herald, he said, “Within two years of our inception, we have increased our head count from five people to 900 people, from presence in one city to across three major cities of India, Mumbai, Bengaluru and Hyderabad, with Mumbai being our latest addition.”  The company has increased its number of memberships 10 times to 25,000 from 2,500 in 2014.

Commenting on the use of technology in connecting patients and subscribers, Bali said, “Medwell is not just a home healthcare company, but it’s entirely driven by technology. Our tech team enables higher quality of home care to patients. In 2016, we have rolled out patients’ app for customers to book appointments, track service delivery, and collect/maintain patient medical records.”

“The app will focus on care plan management with ability to share data across multi-disciplinary medical teams, as well as, family members of patients. We have so far invested $3 million,” he added.

Medwell Ventures through its arm Nightingales Home Health Services has added dental services recently to its list of offerings, such as physician consultation, nursing care, lab sample collection and reporting, physiotherapy, medical devices, ambulance services, pharmacy support and related medical services in homes.