Medwell Ventures to invest USD 50 mn for entering 9 cities

Medwell Ventures, co-promoted by former Fortis Healthcare Group CEO Vishal Bali plans to invest around USD 50 million as it seeks into enter 9 more cities by 2017 under the Nightingales brand.
"We plan to invest around USD 50 million as we enter 9 more cities by 2017 to provide home healthcare services for chronic diseases under the Nightingales brand," Medwell Ventures Co-founder and Chairman Vishal Bali told PTI.
The company that is currently present in Bengaluru had acquired the city based Nightingales Home Health Services in April this year.
The company will enter the cities of Hyderabad, Ahmedabad and Mumbai in the first phase of expansion, he added.

On being asked how the company plans to raise funds for expansion, Bali said: "It will be through venture capital funding though at a later stage we may also look at private equity funding."
Medwell plans to expand the services of Nightingales that were initially in the elder care at home, to provide speciality home healthcare for chronic diseases such as pulmonary, dementia and neuro, arthritis, oncology, diabetes, metabolic and congestive cardiac conditions.

Another focus area for the company is in the area of physiotherapy and recently a physical therapy clinic has been opened in Bengaluru, the company said.
The country's challenges in healthcare delivery need innovative answers. By 2025 India will have 159 million people over 60 years, he added.

"The demand-supply gap of hospital beds and affordability issues will push India towards new models of healthcare delivery to maximise the efficiency of inpatient beds for acute care," Bali said.