Healthcare services start up to build hospital network in semi urban areas offering primary and secondary care services Seedfund, India's leading early stage venture capital firm, and Aavishkaar India MVCF, have entered into a joint equity investment for Vaatsalya, a healthcare services start up which already has its hospitals in North Karnataka. The healthcare company is spearheading the establishment of hospital network in semi urban areas within the country and will offer primary and secondary care services.
"This investment will enable Vaatsalya to create additional hospitals to provide much needed efficient and affordable healthcare services for large semi urban and rural families across India," said Dr Ashwin Naik, CEO, Vaatsalya Healthcare Solutions Private Limited. Although India's metros and semi urban areas are witnessing the mushrooming of corporate healthcare chains, basic healthcare services available in semi urban and rural India have a long way to go. A commitment to bridge this gap in healthcare equity in semi urban and rural areas formed the basis for birth of the very first Vaatsalya Hospital in the year 2005. Vaatsalya intends to build a nationwide network of hospitals to focus on primary and secondary care services for families by the end of this decade, added Dr Naik.
"The opportunity to provide high quality healthcare services where it is most needed while building a sustainable business is part of our core vision and we are proud that we are partnering with pioneers like Aavishkaar and Seedfund in this effort. Both Seedfund and Aavishkaar have a track record of funding ventures which provide promising and innovative solutions in the Indian Market and it was important for us to work with a partner who will share our vision," added Dr Veerendra Hiremath, Co Founder and COO of Vaatsalya.
Bharati Jacob, Partner, Seedfund, added, "Seedfund sees its partnership with Vaatsalya's highly accomplished team as an important milestone and will endeavour to build a low cost model that delivers high quality healthcare network as well as helps serve majority of Indians residing in smaller towns." P Pradeep, Partner, Aavishkaar, said, "The Vaatsalya model demonstrates that commercial considerations and social impact can indeed go together. We are really excited about this and hope to work closely with the company towards fulfilling their growth plans.”