|The hospital team|
- Hospals connects thousands of patients from all over the world to the best hospitals, clinics and hotels in India, Turkey, the United Arab Emirates and Thailand, to receive the most suitable medical treatment and accommodation for their budget.
- Hospals provides international health coverage to subscribers across Africa and Asia, enabling them to obtain cashless treatment in India and other countries.
- The company has grown 6x in the past 6 months as more international patients turn to their high-quality, tech-driven experience post-covid
- IPV has so far invested Rs. 326Cr across 107 deals.
Hospitalsa cross-border health and travel benefits platform that enables international patients to access healthcare across India, the United Arab Emirates, Turkey and Thailand, announced a partial increase in its investment from pre-Series A from Inflection Point Ventures, 9Unicorns, Singapore-based Wavemaker and prominent angels like Kunal Shah, Sanjeev Mishra and Razorpay founders.
Funds raised will be used to expand geographically to reach $900 million in GMV, serving 1.5 million subscribers and patients to obtain quality medical and cosmetic treatments around the world.
The startup has already served more than 22,000 patients from 38 countries to obtain medical advice, teleconsultations and surgical treatments in more than a hundred hospitals in its network. Its health benefits membership, called Hospals Assured, allows subscribers from Africa/Asia to get unlimited medical teleconsultations and free surgical treatments up to $15,000 in Indian hospitals.
Vinay Bansal, Founder and CEO, Inflection Point Ventures says, “Healthcare expenses that include treatment costs and travel costs can be daunting for a family. Having guided counseling from companies like Hospals can ease the stress as their model connects you with the best doctors and surgeons in their respective disciplines. They also provide translation and residential assistance near hospitals. Hospals is at the crossroads where it helps patients and healthcare professionals. Healthcare as a market opportunity is booming and with the growth of insuretech, we are very optimistic for hospitals and healthcare in general. »
Dr. Apoorva Ranjan Sharma, co-founder of 9Unicorns and Venture Catalysts, said, “India is one of the largest and fastest growing markets for medical tourism thanks to the affordability and accessibility of high quality health treatments. Hospals has been central to the expansion of this market. We at Venture Catalysts are happy to have been its first backer and are now reinvesting in its growth story alongside our 9Unicorns commitments. Hospals has reinvented itself to meet the growing demand of this sector by facilitating end-to-end services, including providing medical loans to patients. We are optimistic that Hospitals will emerge as the most important player in the cross-border healthcare segment.”
Hospals was founded by the Danish Ahmed. Obaidullah and Suneel Kapur. Suneel previously worked as Group Sales Manager for Fortis Hospitals and Marketing Director at Radiant Group, recently acquired by Max Healthcare. During his career, he has helped serve over one million patients from 120 countries for cancer, transplants, heart disease and more.
Hospals uses its proprietary recommendation engine to find the best cosmetic surgeons and clinics for patients based on their location, treatment, and budget. Its network of over 400 Hospals Health Consultants in 30 countries provide local advice and support to ensure a smooth patient experience.
“The hospitals started with a single vision to provide universal health coverage. Through Hospals Assured, International Telehealth and our travel concierge services, Hospals enables people across Asia and Africa to access healthcare world-class healthcare. We are rapidly expanding our network of hospitals and collecting data points across the spectrum to help patients find the best surgeons and clinics across Asia. We solve problems with accommodation, remittances and drug delivery across the border. We will soon be launching fintech services like medical loans and crowdfunding to help patients finance their treatments beyond insurance coverage, so that every be human being has access to the best health care in the world,” says Danish Ahmed, who co-founded Hospals after leaving his position as vice president at Paytm.
The Dane previously founded Yebhi.com (sold to Flipkart) and Shopsity (acquired by Paytm) before launching Hospals. The company had raised 10 crore in previous investments from Venture Catalysts, Spiral Ventures and Innoven.
Medical tourism is a $78 billion industry worldwide and was growing at a CAGR of 25% before covid disrupted international travel. With millions of patients waiting for surgeries for the last 2 years and thousands of medical travel companies closing their operations during Covid, Hospals is rapidly adapting its operations to fill this backlog.