MediAngels to raise $5 million for growth plans

MediAngels, an e-healthcare venture in the space of online consultation and second medical opinion, plans to raise $5 million in next two months for its expansion.

The company is looking to expand in Gulf and South East Asia through strategic partnerships with hospitals in those regions.

As majority of overseas patients treated by the company are from Gulf and South East Asia, it is focusing on these regions, said its co-founder and CEO Debraj Shome.

Since its launch in 2011, the company has treated 30,000 patients. It currently has 400 member strong panel of doctors from seven countries across 93 specialities.

Growing at 30 percent month on month, MediAngels also has strategic partnership with 53 hospitals and 21,000 laboratories in different geographies of India. It plans to increase the number of doctors to 2,000 in next six months.

The e-healthcare provider is also in the process of developing websites in Hindi and regional languages like Marathi and Bengali.

It was voted as the most innovative startup company in Asia Pacific region in 2012, by Intel, from amongst 8000 companies evaluated.

MediAngels so far raised Rs.7 crore from HDFC, Venture East, Indian government’s department of science and technology, and a Singapore-based fund.

“We provide all services that you normally get in outpatient department of a hospital using the technology. Just like en e-commerce giving you a store online, we deal with giving you a hospital online,” said Shome.