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
Related opportunities
  • Tea and Coffee Chain
    Cafechocolicious brings a proven business model to start in Coffee..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Quick Service Restaurants
    Looking for your own lucrative business in ever growing fast..
    Locations looking for expansion New Delhi
    Establishment year 2009
    Franchising Launch Date 2012
    Investment size Rs. 10lac - 20lac
    Space required 200 - 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Rajouri New Delhi
  • Quick Service Restaurants
    About New York Slice: Founded in 2011, We, New York Slice..
    Locations looking for expansion Haryana
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Faridabad Haryana
  • Tax Consulting Services
    About Us    Barpute Consultancy is into the business of Consultancy on..
    Locations looking for expansion Delhi
    Establishment year 1996
    Franchising Launch Date 2018
    Investment size Rs. 50 K - 2lac
    Space required 90
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
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