Investment of Rs.300 million raised by Health & Wellness travel platform, Healthtrip.com.
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- Hospals connects thousands of patients from all over the world to the best hospitals, clinics & hotels in India, Turkey, UAE & Thailand, to avail the most suitable medical treatments and accommodation in their budget.
- Hospals offers international health coverage to subscribers across Africa & Asia, enabling them to get cashless treatments in India & other countries.
- The company has grown 6x in last 6 months as more international patients move to their high quality, tech driven experience, post covid
Jan 2022, Delhi: Hospals, a cross border health benefits & travel platform that enables international patients to access healthcare across India, UAE, Turkey & Thailand, announced part raise of its Pre-Serie A investment from Inflection Point Ventures, 9Unicorns, Singapore based Wavemaker and prominent angels like Kunal Shah and Razorpay founders. Existing investor Venture Catalysts has also participated in the current round.
The funds raised will be used for expanding geographically to reach $900 mn in GMV, serving 1.5 million subscribers& patients to get quality medical& cosmetic treatments across the world.
The start-up has already served over 22000 patients from 38 countries get medical advice, telec-onsults and surgical treatments across over a hundred hospitals in its network. Its health benefits membership, called Hospals Assured, enables subscribers from Africa/Asia to get unlimited doctor tele-consults and free surgical treatments upto $15,000 across Indian hospitals.
"Creating access to healthcare is the core mission at Hospals says Suneel Kapur, cofounder and Chief Business officer at Hospals." Our solutions combine advisory in surgical, travel and financial needs of patients across the world, including India, where 12 million patients travel each year to metro cities for better healthcare. All these patients need expert guidance to find the best surgeons and hospitals, among thousands of options. Over the coming years, we're creating a network of over 50,000 Hospals Health Consultants who will use our technology to guide and facilitate patients near them, with one stop solution” .
Vinay Bansal, Founder& CEO, Inflection Point Ventures says, “Healthcare expenses which include treatment costs and travelling expenditure can be daunting for a family. Hospals can ease of the stress as they connect you with the best doctors and surgeons in their respective disciplines. They also provide translation & residential assistance close to the hospitals. Hospals sits at the crossroads of healthtech and fintech, where it is helping patients avail treatment from the best medical professionals using technology. Healthcare as a market opportunity is booming and with growth in insuretech, we are very bullish on Hospals and healthcare in general.”
Dr. Apoorva Ranjan Sharma, Co-Founder of 9Unicorns and Venture Catalysts, said, “India is one of the largest and fastest growing market for medical tourism on the back of affordability and accessibility of high-quality healthcare treatments. Hospals has been at the centre of expanding this market. We at Venture Catalysts arehappy to have been its early backer and are now reinvesting in its growth story alongwith our commitments from 9Unicorns. Hospals has reinvented itself to cater to the rising demand from this sector by facilitating end to end services including providing medical loans to the patients. We are optimistic that Hospals would emerge as the most significant player in thecross-borderhealthcare segment.”
Hospals was founded by Danish Ahmed. Obaidullah and Suneel Kapur. Suneel had earlier worked as the Group Sales head for Fortis Hospitals and Chief Marketing Officer at Radiant Group, recently acquired by Max Healthcare. Through his career he was instrumental in serving over a million patients from 120 countries for cancer, transplants, cardiac and other diseases.
Hospals uses its proprietary recommendation engine to find the best surgeons& cosmetic clinics for patients depending on their location, treatment & budget. Its network of over 400 Hospals Health Consultants across 30 countries provides local counselling and support to ensure a seamless experience for the patient.
“Hospals started with a single vision to provide Universal Health Coverage. Through Hospals Assured, International Telehealth and our concierge travel services, Hospals is enabling people across Asia & Africa to access world class healthcare. We’re rapidly expanding our network of hospitals and collecting data points across the spectrum to help patients find the best surgeons and clinics across Asia. We’re solving problems in accommodation, remittances and medicine delivery across the border. We’ll soon launch fintech services like medical loans & crowdfunding to help patients finance their treatments beyond insurance coverage, so that each human has access to the best healthcare globally” says Danish Ahmed, who Co-Founded Hospals after quitting his role as Vice President at Paytm.
Danish had earlier founded Yebhi.com (sold to Flipkart) and Shopsity (acquired by Paytm) before launching Hospals. The company had raised 10 crores in earlier investments from Venture Catalysts, Spiral Ventures and Innoven.
Medical tourism is a $78 billion industry globally and was growing at 25% CAGR before covid brought international travel to a halt. With millions of patients waiting for surgeries since the past 2 years and thousands of medical travel companies shutting operations during Covid, Hospals is rapidly scaling its operations to service this backlog.