India Home Health Care to invest $10 million

Home healthcare services provider India Home Health Care (IHHC) plans to invest $10 million (over Rs 60 crore) in the next five years to expand its presence to 50 cities.

Stating this, company's founder and director V Thiyagarajan today said the current financial year would see them launching services in Visakhapatnam, Coimbatore and Mysuru, and an institute in Kochi for training nurses and other paramedical workforce to deal with the new-born and mother care.

Launching its services here, he said the expansion would help them service more than 10,000 patients annually, starting from next year. Starting its operations in 2009, it is present across nine cities, including Chennai, Bengaluru, Ahmedabad and Pune.
 

The company is expecting to fund its expansion through cash generated from the operations and from the existing promoters, including US-based Bayada Home Healthcare, which has picked up a 26 per cent stake in the Indian company.

It expects revenues to rise more than three-fold to Rs 50 crore in the next two years, from Rs 15 crore in the financial year 2014-15. According to Thiyagarajan, the company started seeing profit from 2013.

IHHC offers round-the-clock healthcare services for senior citizens among others.