Portea Medical Receives US$37.5M in Series B Funding

Portea_LogoPortea Medical, a Bangolore, India-based home healthcare company, received US$37.5m in Series B funding.

The round was led by Accel with participation from International Finance Corporation (IFC), a member of the World Bank Group, Qualcomm Ventures and Ventureast.

The company intends to use the funds to expand in India and in other markets including Malaysia, where it already provides services in four cities.

Led by Meena Ganesh, MD & CEO, Portea focuses on general primary health care, post-hospitalization care, chronic disease management and allied services such as diagnostics and medical equipment on hire thereby bringing the entire range of healthcare services to a patient’s home. The company works with hospitals, insurance companies and individuals to provide a continuity of care in the home setting through doctors, nurses, physiotherapists and nursing attendants.
Portea has 40+ hospitals as partners, more than 3,000 staff and plans to recruit an additional 5,000 employees over the next 18 months in line with its growth plans across the region. It currently operates across 24 cities and handles 60,000 visits in a month to patients’ homes.

The company had previously received $US 9m Series A funding from Accel, Qualcomm Ventures and Ventureast in December 2013.



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