HealthQuad Fund & portfolio companies

Creating the next generation of Healthcare businesses

In India, healthcare accessibility, affordability and quality are an issue for nearly 700 million citizens, as 80% of hospitals are located in large urban areas. By 2025, the sector would require investments of $200 billion to further develop current healthcare infrastructure: 1.8 million beds need to be added as well as 1.5 million doctors and 2.4 million nurses to support the load.

To address this issue, KOIS and Quadria Capital – a private equity firm focused on healthcare in Asia - created HealthQuad, an Indian Venture Capital fund, in 2016. The fund specializes in disruptive healthcare businesses in India. It invests in delivery services and products with the potential to dramatically increase healthcare productivity, affordability and accessibility, while improving patient health and fostering innovation.

Since its creation, HealthQuad has invested in seven early-stage businesses, including a hospital group in Uttar Pradesh focused on providing affordable healthcare to low and middle-income patients, a leading high-end renal sciences hospital in South India, a telemedicine solution provider with extensive rural network across India, and a doctor recruitment company based in Uttar Pradesh. Lately, the fund has expanded through investments in a clinical intelligence and analytics platform, a specialized diagnostic and bio-informatics company, and in India’s largest online marketplace for medical supplies.

Sources: World Bank

Fund characteristics

  • Launch: 2016

  • Geographies: India

  • Capital deployed: $31M along with co-investments

  • Investment type: Venture Capital/Private equity

  • Size of investments: $0.2 to $2.7M

  • Target return: 3x contributed capital

  • Equity participation: significant minority stakes (from 20 to 50%)

  • Investment stage: early stage, pre-series A

Fund's impact in 2019

This represents the aggregated impact of all of Healthquad's portfolio companies.

  • 200,000 outpatients and 20,000+ inpatients treated across 5 hospitals

  • 10,000+ patients provided with tests at subsidized rates

  • - 25% reduction in procurement cost for hospitals

  • 2800+ doctors and other employees trained across portfolio companies

  • 1000+female employees hired across portfolio companies

  • 550,000+ teleconsultations done

Portfolio companies

Asian institute of nephrology & urology

Providing high-end renal sciences across India

  • Inception year: 2013

  • Investment year: May 2016

  • Target population: Patients suffering from a urological disease

  • Geographies: Hyderabad, Telangana (India)

Asian Institute of Nephrology and urology is a renal sciences hospital operating in Hyderabad. Willing to replicate its model in multiple Indian cities, the company can rely on a state-of-the-art robotic facility to offer minimally invasive robotic-assisted surgeries for a number of urological diseases.

Asian Institute of Nephrology and urology's impact in 2019

  • 66,000+patient visits yearly

  • 165 hospital beds

  • $500,000+ discounts given to patients in need

  • 40+doctors including 15 super specialists

  • 2Villages with 15,000+ population adopted

  • 3,000+hours of training provided

  • 46 CMEs conducted

  • 52% female employees

Hi-impact consultants

Identifying and placing doctors in hospitals and medical colleges

  • Inception year: 2011

  • Investment year: May 2016

  • Target population: Healthcare professionals, hospitals and medical colleges

  • Geographies: Noida, Uttar Pradesh (India)

Hi-Impact consultants identifies and places doctors in over 300 hospitals and 70 medical colleges across the country. The company has also added non-clinical hiring to its portfolio of services and focuses also on comprehensive manpower solution for new hospital project hiring. Hi-Impact Consultants plays a vital role of providing talent pool across the country, especially in Tier 2 and 3 cities (over 60% doctors).

Hi-Impact consultants' impact in 2019

  • 300K+unique doctor database

  • 300+ hospital clients

  • 4,800+ jobs posted

  • 70%doctors identified as “specialists”

  • 70% female employees

Neurosynaptic communications

Providing turnkey telemedicine solutions

  • Inception year: 2002

  • Investment year: September 2016

  • Target population: All patients and in particular patients living in remote areas

  • Geographies: Bengaluru, Karnataka

Neurosynaptic Communications provides turnkey telemedicine solutions to its clients across India and international countries. It is present in over 2,200 villages in India and other geographies, covering over 50 million persons to date, often living in remote areas with low healthcare penetration. Its telemedicine platform, ReMeDi Nova offers over 35 point of care diagnostics and enables professionals to perform teleconsultations, tele diagnostics, patient screenings and health camps in rural areas at extremely low bandwidths

Neurosynaptic Communications' impact in 2019

  • 35+ POC Tests

  • 550,000+monthly teleconsultations

  • 50M+population touched

  • 2200+ village deployments across India

  • 29 countries served

  • 200+healthcare workers trained to telemedicine

  • 32% female employees

Regency healthcare

Providing multi-specialty, single-specialty and secondary healthcare services across a network of hospitals

  • Inception year: 1995

  • Investment year: February 2017

  • Target population: Healthcare delivery (multi-specialty, single specialty and second care services)

  • Geographies: Kanpur, Uttar Pradesh

Regency Healthcare operates more than 500 beds across 5 hospitals located in Kanpur, Uttar Pradesh. Hospitals are multi-specialty, single specialty (renal science and oncology) or secondary services focused.

It operates in one of India’s most underserved areas in terms of quality healthcare facilities. The company continues to focus on providing affordable healthcare to low and middle-income patients.

Regency Healthcare's impact in 2019

  • 600 beds

  • 6 facilities

  • 340,000+ annual visits

  • 30% beds allocated to those in need

  • 170+ new jobs created annually

  • 16,300+ hours of training provided annually

  • 100+ full time specialists

  • 250+ female employees

Strand life sciences

Providing bioinformatics, and research biology to develop software and services for life sciences research

  • Inception year: 2000

  • Investment year: February 2018

  • Target population: Cancer and inherited diseases affected and at-risk population

  • Geographies: Bengaluru, India

Strand Life Sciences is a global bioinformatics and genomic profiling company. Strand is a leader in precision medicine diagnostics, aimed at empowering cancer care and enabling diagnosis of inherited diseases through 15 laboratories. Strand’s customers include leading global life science platform technology companies, research labs, as well as oncologists, pediatric specialists, geneticists and hospitals.

Strand Life Sciences's impact in 2019

  • 1M+ samples processed

  • 2,000+ institutional clients

  • 10,000+ patients tested under subsidized rate

  • 150,000+ clinical specimens

  • 130+ clinical trials conducted

  • 700+ employees

  • 40% female employees

THB (Technology, Healthcare & Big Data Analytics)

Providing big data analysis to empower healthcare with business modules to improve patient outcomes

  • Inception year: 2015

  • Investment year: October 2018

  • Target population: All patients

  • Georgraphies: Gurugram, India

THB is a full stack [tech + data + insights] clinical intelligence company. THB helps healthcare providers structure their datasets to empower management and clinical teams to drive full-potential value from datasets. The company's mission is to transform the healthcare industry from doctor-decision based to data and evidence-based treatment and decisions.

THB's impact in 2019

  • 35M+ unique patients

  • 3,000+ data partners

  • 100+ cities covered

  • 32,000+ patient data added daily

  • 50,000+ doctors engaged

  • 20% female employees


Providing an E-commerce marketplace for medical supplies to improve efficiency and bring costs down

  • Inception year: 2015

  • Investment year: November 2019

  • Target population: All patients

  • Geographies: Mumbai, India

Medikabazaar addresses medical supply issues of hospitals in remote regions by providing a simplified platform for product discovery along with transparent pricing. Through the automation of supply chain and efficient inventory management the platform facilitates disintermediation of the distribution channel to bring cost savings for customers.

Medikabazaar's impact in 2019

  • 250,000+ products listed

  • 3,400+ hospital customers

  • 2,300+ suppliers listed

  • 50M+ units shipped

  • $3M+ worth of loans to customers through financing

  • 20% female employees

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