SuVitas plans to raise $20-25 million to take bed capacity to 1,000
It will open 18-20 centres in Bengaluru, Chennai, Pune, Delhi, Mumbai, Kolkata and Bhubaneswar
Hyderabad: SuVitas Holistic Healthcare Pvt. Ltd, a Hyderabad-based transition healthcare provider, plans to raise $20-25 million to expand into cities across the country.
It will open 18-20 centres in Bengaluru, Chennai, Pune, Delhi, Mumbai, Kolkata and Bhubaneswar, taking the total bed capacity to 1,000 over the next 24 months.
The company was started by venture capitalists Sateesh Andra, Ramesh Byrapaneni and others. Andra and Byrapaneni are part of venture capital fund Ventureast. The founders invested $1 million in their personal capacity in a 60-bed facility in Hyderabad.
“To grow fast, we will be raising capital. We will talk to venture capital and private equity players. We will close the round in the next six months,” Andra said.
A typical SuVitas facility has 60-100 beds. “That’s the sweet spot for us,” managing director Bipin Pendyala said.
Targeted at the affluent, SuVitas provides post-hospitalization care to patients who are yet to make complete recovery. It covers post-hospitalization rehabilitation in neurology, orthopaedics, early-stage oncology and cardiology.
“We want them to recover. We want them to relax,” said Byrapaneni.
Transition healthcare is common in developed countries such as the US and the UK.
“Given the continuously growing demand for healthcare and tertiary bed capacity growth in India, transition care can easily scale up and go beyond the 10,000-bed requirement,” Andra said.
SuVitas’ rehabilitation services include nursing care, physiotherapy, occupational therapy, speech therapy, psychological guidance and medical supervision.
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Business NewsCompaniesSuVitas plans to raise $20-25 million to take bed capacity to 1,000
First Published:7 May 2015, 07:31 PM IST
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