CallHealth to invest $100 mn for expansion in US, Europe

Home health services provider and healthcare aggregator CallHealth Services Pvt. Ltd. plans to expand in Europe and North and South America shortly. The company is in the advanced stages of raising about $100 million, which it intends to spend on expansion.

The company will be closing a deal to raise about $75-$100 million in a couple of months after which the expansion plan is expected to take off, according to CallHealth Chief Operating Officer (COO) Sreekanth Nadella. “We are planning to launch CallHealth services in South America soon as we feel the scenario is similar to that of India. We feel there is potential market and we are actively pursuing the launch. It’s also closely linked to fund raising. As soon as we raise the funds, we’ll be launching it,” Mr. Nadella said. The investment will go into “roping in people, infrastructure, forging tie-ups and other necessary aspects,” according to him.

Institutional investment

The company is going through the institutional route for this second round of investment. “We already had a series of talks with investors from across the globe and we expect to see a closure in one to two months in this regard,” said Mr. Nadella. CallHealth is also in discussions with reputed hospitals in the U.S. and Europe for a joint venture. The possible tie-up may not require much of funding as it doesn’t involve any investment. “These entities are very impressed about our model. They even visited our office in the last few days. We are most likely to work with them in a joint venture partnership,” the COO said. This apart, the company is scheduled to expand its operations in 50 cities in India by the end of the next fiscal. Currently, CallHealth is present in Delhi NCR region, Chennai, Hyderabad, Visakhapatnam, Guntur, Rajahmundry, Vijayawada, Chittoor, Nellore, Kurnool and Warangal.

Let's block ads! (Why?)