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Investment 18 Jan 2016

Meena Ganesh led Portea Medical bags Majority Stake in PSTakeCare

Mumbai-based PSTakeCare, a disruptive information discovery start-up by IIT graduates, aimed to make patients the focal point of healthcare by using advanced analytics to provide comprehensive information to patients.

India’s leading home healthcare company, Portea Medical, has bagged majority stake in Mumbai-based start-up, PSTakeCare, a platform that seamlessly connects key stakeholders in the healthcare delivery ecosystem.

With a staff strength of 40 employees, PSTaceCare was formed in March 2015 by four IITians of Mumbai; Pratik Chinchole, Rahil Momin, Anup Raaj and Shirin Shinde, who also studied at the Institute of Chemical Technology, Mumbai.

“There is an urgent need for greater transparency in India’s healthcare system. We would like to become the first port-of-call for patients seeking information on doctors, hospitals and labs for any medical procedure. Going forward, we will continue to focus on building disruptive products in healthcare solving key patient needs through innovation. With Portea, we have the right platform to rapidly scale the business,” said Pratik Chinchole, Co-Founder & CEO of PSTakeCare.

Through a combination of comprehensive information, analytics and consumer feedback, PSTakeCare places decision-making power in the hands of patients.

The investment in PSTakeCare follows Portea’s acquisition of specialty pharmaceutical distributor, MedybizPharma in November 2015.

Sharing her intention behind the deal, Meena Ganesh, MD & CEO, Portea Medical said, “Portea is highly pleased to underline our commitment to enhance healthcare in India via this investment in PSTakeCare. The tech platform that PSTakeCare has built places the patient at the centre of the healthcare universe and this focus on the Patient is a shared goal for both companies.”

PSTakeCare’s technology equips healthcare consumers with relevant knowledge on doctors, hospitals and other healthcare service providers enabling consumers to take healthcare decisions based on factors such as insurance coverage provided, procedure-specific feedback and room-wise costs.

In addition, the platform also presents actual photographs of medical facilities and will use advanced analytics and consumer feedback to provide comprehensive information to patients.

Significantly, Portea is also exploring other investments as the company expands its offerings to tackle the massive challenges brought on by India’s ageing population, the rising burden of NCDs (non-communicable diseases) which according to Public Health Foundation of India already lead to 53 per cent of all deaths and which are expected to account for 67 per cent of deaths by 2030.

The company employs over 4,000 staff and handles in excess of 70,000 home visits a month across 24 cities in India. Portea also has 50+ hospitals as partners and a network of referring physicians all over across the country.

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