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2013-07-29

Serial entrepreneur duo Meena and K Ganesh acquires home healthcare services provider

Serial tech entrepreneur duo K Ganesh and Meena Ganesh has recently acquired New Delhi-based Portea Medical, provider of home healthcare services in India.

Serial tech entrepreneur duo K Ganesh and Meena Ganesh has recently acquired New Delhi-based Portea Medical, provider of home healthcare services in India.

 

“We have acquired 100 per cent stake in the company, largely through equity,” K Ganesh told Small Medium Entrepreneur. However, the amount of acquisition has not been disclosed yet.

 

“The integration of the two companies has been seamless. We got interested in Portea because they had been focusing on the B2B side, working with hospitals to improve health outcomes. They had really pioneered the US home healthcare model in India and we thought it fit well with our vision of creating a category-leading home healthcare company,” said Ganesh.

 

Portea Medical was co-founded by Zachary Jones and Karan Aneja for pioneering the US homecare model in India. With operations in Delhi and Bangalore, the company provides residents, home visits from high-quality doctors, nurses, physiotherapists, counsellors, nutritionists, and trained attendants. Its service offerings focus on primary, post-hospitalization, and palliative and hospice care services.

 

The company has a network of over 200 referring physicians in the two cities.

 

“Portea was the first mover in this space and has significant traction with B2B clients, a great founding team, as well as operations in Delhi and Bangalore. This will serve as an excellent foundation on which to build one of India’s largest healthcare companies,” added Ganesh.

 

The founders of Portea Medical will be part of the management team headed by Meena Ganesh as the CEO and K Ganesh as the promoter.

 

Henceforth, the company is planning to expand its operations in another 10 cities in a span of one year.

 

Ganesh stated, “We estimate the market to be worth between $2-4 billion currently. We will be launching services in 10 cities over the next one year and will be growing the market through customer education and by demonstrating the company’s disruptive value proposition.”

 

The serial entrepreneurs K Ganesh and Meena Ganesh have already built and successfully exited four start-ups previously. The most recent exit was from the sale of their education services firm TurorVista to Pearson for $213 million, according to Ganesh.

 

The husband and wife have also backed couple of e-commerce companies like online food and grocery store BigBasket, online jewellery store BlueStone, Internet-based religious venture OnlinePrasad, and domestic holiday booking platform MustSeeIndia with minority investments from their family office, Growth Story.

 

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