Business

Connect and Heal eyes $100 mn revenue by FY25

Health-tech company, Connect and Heal, which provides coordinated care to corporate employees and their families said it has acquired a subscriber base of 2 million, which would lead it on the path of profitability. Bulk of the new subscribers were on boarded during the pandemic. 

“Covid-19 necessitated corporates to take care of the health of their employees and their family on campus as well as remotely. Employee well-being was a top concern for corporates and we bridged the gap by offering our health care solutions,” said Sanjay Vinayak, founder & CEO, Connect & Heal. 

The firm said it provides its service through its in-house team of over 800 doctors backed by a network of over 6,000 ambulances, hospitals, specialist clinics, and over 3,500 diagnostic centres and pharmacies at over 60 Indian cities. 

With likely further growth in subscriber base and increase in revenue, the firm is planning to clock revenues of $100 million by FY25. “We aim to be profitable in 18 months,” Mr. Vinayak said.

Towards its growth plan, the company has on-boarded 50 people for technology support and plans to hire 100 more employees across engineering, product and design in the next few months along with 200 more staff across other departments like operations and customer support. 

So far it has raised $11 million in funding from BAce Capital, Celesta Capital and a group of bankers from London, Singapore, the Netherlands and the U.S. The company aims to use these funds to expand its footprint across the country, Mr. Vinayak said.  

Emphasising that the current primary healthcare system in India was highly fragmented and marked by lack of access, quality, patient-centric approach and assurance of desired clinical outcomes, he said it was high time to address this.

“Connect and Heal has built a clinical ecosystem that eliminates all these challenges. By standardising clinical care, we are helping patients receive care that matches global benchmarks,” he added.

At present the firm reaches out to the end customers through corporate mandates and community managers of real estate projects. It is now planning to reach out to other segments.


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Printable version | Jun 30, 2022 10:25:06 pm | https://www.thehindu.com/business/connect-and-heal-eyes-100-mn-revenue-by-fy25/article65587026.ece