Vaatsalya Healthcare, a Pioneer in Semi-Urban and Rural Healthcare in India, Announces Funding from Oasis Fund and Seedfund
Vaatsalya Healthcare, a pioneer in semi-urban and rural healthcare in India, announces funding from Oasis Fund and Seedfund to expand hospital network across India. The investment was led by Oasis Fund, a Luxemburg based investment fund with a successful track record of investing in emerging enterprises across the world. Vaatsalya is expanding the Vaatsalya Hospitals network from seven hospitals in Karnataka to twenty hospitals across India.
Bangalore, India, May 11, 2009 --(PR.com)-- Existing investor, Seedfund also participated in this round of funding.
Jean-Philippe de Schrevel and Eric Berkowitz, from the investment advisory firm Bamboo Finance, stage funding from India’s leading early stage fund Seedfund and India’s leading micro venture capital fund, Aavishkaar.
Indian metros and urban areas have access to some of the world’s best healthcare facilities, whereas the semi-urban and rural areas often do not have access to basic healthcare services. Vaatsalya aims to plug this gap and provide basic and secondary care in the areas where such services or quality services do not exist. Vaatsalya’s goal is to be the leading low-cost but high quality service provider in its geographies of operations.
Today, Vaatsalya provides affordable primary and secondary healthcare services across seven districts in Karnataka and is currently managing 300 beds, making it the largest chain of its kind. With the new round financing Vaatsalya aims operate 20 hospitals across southern region.
Recepient of the Sankalp Award 2009 for Healthcare Inclusion, Winner of the BiD challenge India 2007 and LRAMP award 2008 in the enterprise category, Vaatsalya focuses on the core specialities of Gynaecology, Paediatrics, General Surgery and General Medicine at each of its hospitals. In addition, depending on the unmet needs of the local community specialised services like Dialysis, Intensive Care Units, Paediatric Surgery, Diabetology and Neurosurgery are added to the service portfolio.
Dr Ashwin Naik, Founder and Vaatsalya CEO said “Our goal is to revolutionise the existing healthcare system in India by focusing primarily on providing high quality healthcare services to semi-urban and rural India. We are fortunate to have found partners like Oasis and Seedfund who share our passion and vision.”
“Our hospital network is proud to have attracted the best medical teams from across India, who have shown a keen desire and passion to work in our hospitals, particularly doctors who were born and grew up in semi-urban India. Our strategy is to tap into the entrepreneurial spirit of such doctors and work with them on expanding our network. Over the next two years, in addition to our Greenfield projects, we will be actively exploring options to partner with existing nursing homes and hospitals that share our philosophy.” added COO and co-founder Dr Veerendra Hiremath.
Jean-Philippe de Schrevel said: “Oasis Fund and its advisory company Bamboo Finance are very proud to be partnering with Vaatsalya to increase healthcare access in India. We created Oasis to support commercially viable social ventures and build on the success we had with BlueOrchard in the area of microfinance. We are working with Vaatsalya on a strategy to increase its outreach to low-income patients by providing a link with microfinance institutions and micro health insurance programs. “
“We have looked all over the world and Vaatsalya has one of the most innovative business models for providing healthcare access in middle and low income communities. Vaatsalya has proven that they can provide affordable and high quality healthcare in a sustainable and scalable way. This makes Vaatsalya a perfect fit with the mission of Oasis and we are excited to support the expansion of their hospital network and their service to low income communities.” added Eric Berkowitz.
Bharati Jacob from Seedfund added “We are proud to be associated with Vaatsalya as its model has shown that low cost doesn’t necessarily mean low quality and that scalable and profitable business model can be built while providing lower priced health care services. We believe Vaatsalya will revolutionise low cost delivery model.”
Contact Information:
Vaatsalya Healthcare
Mr. Rocky Philip
Email: admin@vaatsalya.com
Tel: +91 80 41104652
Web: http://www.vaatsalya.com
Seedfund
Ms Bharati Jacob
Email: info@seedfund.in
Tel: +91 22 24902201
Web: http://www.seedfund.in
Bamboo Finance
Mr. Eric Berkowitz
Email: info@bamboofinance.com
Tel: +41 22 596 4750
Web: http://www.bamboofinance.com
Aavishkaar
Mr. P Pradeep
Email: info@aavishkaar.org
Tel: +91-22-32535292
Web: http://www.aavishkaar.org
###
Jean-Philippe de Schrevel and Eric Berkowitz, from the investment advisory firm Bamboo Finance, stage funding from India’s leading early stage fund Seedfund and India’s leading micro venture capital fund, Aavishkaar.
Indian metros and urban areas have access to some of the world’s best healthcare facilities, whereas the semi-urban and rural areas often do not have access to basic healthcare services. Vaatsalya aims to plug this gap and provide basic and secondary care in the areas where such services or quality services do not exist. Vaatsalya’s goal is to be the leading low-cost but high quality service provider in its geographies of operations.
Today, Vaatsalya provides affordable primary and secondary healthcare services across seven districts in Karnataka and is currently managing 300 beds, making it the largest chain of its kind. With the new round financing Vaatsalya aims operate 20 hospitals across southern region.
Recepient of the Sankalp Award 2009 for Healthcare Inclusion, Winner of the BiD challenge India 2007 and LRAMP award 2008 in the enterprise category, Vaatsalya focuses on the core specialities of Gynaecology, Paediatrics, General Surgery and General Medicine at each of its hospitals. In addition, depending on the unmet needs of the local community specialised services like Dialysis, Intensive Care Units, Paediatric Surgery, Diabetology and Neurosurgery are added to the service portfolio.
Dr Ashwin Naik, Founder and Vaatsalya CEO said “Our goal is to revolutionise the existing healthcare system in India by focusing primarily on providing high quality healthcare services to semi-urban and rural India. We are fortunate to have found partners like Oasis and Seedfund who share our passion and vision.”
“Our hospital network is proud to have attracted the best medical teams from across India, who have shown a keen desire and passion to work in our hospitals, particularly doctors who were born and grew up in semi-urban India. Our strategy is to tap into the entrepreneurial spirit of such doctors and work with them on expanding our network. Over the next two years, in addition to our Greenfield projects, we will be actively exploring options to partner with existing nursing homes and hospitals that share our philosophy.” added COO and co-founder Dr Veerendra Hiremath.
Jean-Philippe de Schrevel said: “Oasis Fund and its advisory company Bamboo Finance are very proud to be partnering with Vaatsalya to increase healthcare access in India. We created Oasis to support commercially viable social ventures and build on the success we had with BlueOrchard in the area of microfinance. We are working with Vaatsalya on a strategy to increase its outreach to low-income patients by providing a link with microfinance institutions and micro health insurance programs. “
“We have looked all over the world and Vaatsalya has one of the most innovative business models for providing healthcare access in middle and low income communities. Vaatsalya has proven that they can provide affordable and high quality healthcare in a sustainable and scalable way. This makes Vaatsalya a perfect fit with the mission of Oasis and we are excited to support the expansion of their hospital network and their service to low income communities.” added Eric Berkowitz.
Bharati Jacob from Seedfund added “We are proud to be associated with Vaatsalya as its model has shown that low cost doesn’t necessarily mean low quality and that scalable and profitable business model can be built while providing lower priced health care services. We believe Vaatsalya will revolutionise low cost delivery model.”
Contact Information:
Vaatsalya Healthcare
Mr. Rocky Philip
Email: admin@vaatsalya.com
Tel: +91 80 41104652
Web: http://www.vaatsalya.com
Seedfund
Ms Bharati Jacob
Email: info@seedfund.in
Tel: +91 22 24902201
Web: http://www.seedfund.in
Bamboo Finance
Mr. Eric Berkowitz
Email: info@bamboofinance.com
Tel: +41 22 596 4750
Web: http://www.bamboofinance.com
Aavishkaar
Mr. P Pradeep
Email: info@aavishkaar.org
Tel: +91-22-32535292
Web: http://www.aavishkaar.org
###
Contact
Vaatsalya Healthcare
Rocky Philip
+918041104652
www.vaatsalya.com
Rocky Philip
+918041104652
www.vaatsalya.com
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