Hotline: 1800 102 2007
X
Search Business Opportunities
Jul, 13 2018

Brand Capital invests Rs 3.42 cr in home diagnostics firm 5th Vital

The company, which is operated by Prednalytics Health Pvt. Ltd, will use the funds for expansion and marketing.

Home diagnostics services provider 5th Vital has raised $500,000 (Rs 3.42 crore) from Brand Capital and a clutch of high net worth individuals (HNIs), co-founder Pratap Chandra said.

Brand Capital, the ad-for-equity investment arm of media house Bennett Coleman & Co. Ltd (BCCL), alone brought in half the investment amount, he said. The HNIs are Indians, including two NRIs, who are mostly industrialists and businessmen, he added.

The company, which is operated by Prednalytics Health Pvt. Ltd, will use the funds for expansion and marketing.

5th Vital provides doorstep services. It also provides scans and imaging services such as X-Ray, CT (computed tomography) scan and MRI (magnetic resonance imaging). It is currently present in Bengaluru and Pune.

The company was founded by Chandra, Praveen Potluri, Waseem Afsar and Harjot Sidhu in July last year. All have earlier worked with healthcare services aggregator CallHealth Services Pvt. Ltd, which also raised funds from Brand Capital earlier this year.

Chandra and Sidhu, who are post-graduates from the Indian Institute of Management (IIM), Calcutta, have over 20 years’ work experience between them. Potluri is a post-graduate from the Indian School of Business (ISB), Hyderabad, and has over 14 years of experience with healthcare and pharma companies such as Abbott. Afsar is a post-graduate from the Indian Institute of Management (IIM), Indore, with over 17 years of experience with entities including the ministry of health at Saudi Arabia.

The diagnostics market in India is highly fragmented but the industry showed signs of maturity after Dr Lal Path Labs floated an initial public offering (IPO) and listed on the stock exchanges in 2015. After months, another diagnostics firms Thyrocare Technologies made a public issue and a successful listing. Carlyle-backed pathology chain Metropolis Healthcare Ltd is also reportedly planning an IPO.

Late last year, healthcare entrepreneur GSK Velu re-entered the diagnostics sector with a new firm, Neuberg Diagnostics.

Comment
image
Related opportunities
  • Others Food Service
    About Us : A fast growing chain of Premium Cafes ! Established..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • About Us: Pots and Pans, Launched promoted in India by Meyer..
    Locations looking for expansion New Delhi
    Establishment year 1997
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater DELHI New Delhi
  • Others Food Service
    About Us: Established in 1939, Nathu's held position as a consistent..
    Locations looking for expansion Delhi
    Establishment year 1986
    Franchising Launch Date 2002
    Investment size Rs. 50lac - 1 Cr.
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Womens Wear
    About Us: LoveGen, launched in India’s celebrity city Mumbai, is a..
    Locations looking for expansion Maharashtra
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Goregaon east Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities