YouWeCan Ventures, the investment fund floated by Yuvraj Singh to invest into early-stage startups, has announced acquisition of an undisclosed stake in Healthians, an online healthcare marketplace which lets consumers discover affordable healthcare, using quality and price transparency. Financials remain undisclosed.
Healthians aggregates diagnostic labs, crowd sourced sample collectors and nearby doctors, as well as makes patients’ medical records available online. Apart from tying up with leading medical labs chains, it is creating Healthians branded lab network in association with labs that will offer standardised pricing, processes and user experience, in a bid to make diagnostic healthcare, affordable and uniform in India.
Healthians’ branded lab network seems fairly logical. Diagnostic market in India is approximately $ 5 bn industry, with over a million tests being conducted daily according to an IBEF 2015 study.
Deepak Sahni, Founder & CEO, Healthians says,
For a healthcare brand, there can be no better partner that Yuvraj Singh, and we are delighted to have him onboard. We will do our best to achieve his dream of taking preventive healthcare to everyone across the entire country.
While a lab network may be capital intensive, the business model is asset light. The hyper local sample collectors and doctors are crowd sourced. Apart from preventive care, the site also caters to chronic patients and patients recommended tests by Doctors.
Healthians’ has also developed in an in-house self-assessment software ‘HealthiansPLUS’, created with the help of leading doctors along with software engineers. Users fill online questionnaire, followed by free personal visit by a Wellness Consultant for further screening. The software establishes user’s personal health score, recommends future health checks, and tracks each user’s health over his lifetime”, said Sahni.
Healthains’ current operations, though currently focused on Delhi-NCR, have seen a robust growth. It claims to be catering to customers in 22 cities in India and plans to expand this to over 50 cities. The company plans to profile over 1 million users for HealthiansPLUS, crowd source over 1000 mobile Health Advisors, and conduct more than 200,000 tests in next 8 to 12 months.
Talking about future expansion plans, Sahni says that the company is targeting to form a network of over 1000 Healthians’ branded labs and help them in enhancing capacity utilisation through demand aggregation and technology support.
The first of these labs are slated to come up in over 20 cities including Delhi, Bangalore, Mumbai, Hyderabad, Pune and Chennai. Healthians also plans to tie up with 2000 pharmacy stores to enable them to offer Diagnostic Tests along with medicine sales to their customers.