Home / Companies / Start-ups /  GenWorks Health secures 135 crore from Wipro GE, Morgan Stanley and others
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GenWorks Health has secured a second round of funding to the tune of 135 crore from a consortium of investors including Somerset Indus Capital Partners, Morgan Stanley through its funding arm Grand Vista, Evolvence & Wipro GE.

The health care startup now aims to double revenues in FY 23 and the funding will be leveraged to cover working capital needs, relevant M&A to invest in manufacturing partnerships, and expansion in the area of in-vitro diagnostics.

S Ganesh Prasad, Founder, MD & CEO said, “Our goal at GenWorks has been crystal clear - to bring awareness for affordable care. The journey towards this began in 2015 in the areas of Mother and Child care, Critical Care & Cardiology, Radiology, and Hospital solutions. We started with 160 people in 30 locations with GE as the primary technology partner."

“Today, we have a strategy to solve care cycle needs in every area as a part of our endeavour to support affordable access through 500+ people in over 130 locations. Technology is at the forefront in this healthcare transformation from healthcare delivery, be it ICU care disruption, urgent care or home care all the way to bringing efficiency in supply chain and commercial excellence."

GenWorks is a startup in the Indian healthcare industry that is dedicated to improving healthcare access in India. It was originally a Wipro GE invested company with an aim to create a platform for solving the three fundamental challenges in Healthcare- - Access, Affordability and Adoption.

VS Raghavendra Rao, CCO GE Healthcare, South Asia, said, “Investment in GenWorks is a testimony to our promise of bridging the treatment gap and enhancing care delivery across India. With the broad spectrum of Wipro GE healthcare products, the healthcare providers have a strong opportunity to build a robust portfolio and provide quality healthcare across all of India."

VS Raghavendra Rao, CCO GE Healthcare, South Asia
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VS Raghavendra Rao, CCO GE Healthcare, South Asia

About their plans of expanding, RR Balaji, Co-Founder and COO, said, “The future is participation. We are re-launching GenWorks, and are all set to democratize healthcare and create freedom from transactions. It is very interesting to think how quickly we adapted to a common goal of saving lives in the last 18 months."

“We are expanding our care areas to Respiratory, Nephrology, ENT, and Cancer screening with the support of an exhaustive team in a multitude of locations across India. Today, we serve 40000+ customers across the country."

Speaking on the investment, Ramesh Kannan, Partner, Somerset Indus Capital Partners, said, “GenWorks is revolutionizing healthcare by bringing technology and enabling digital / connected care across areas, to a large customer base. With an amazing team and enviable partnerships, GenWorks is the future of healthcare as it combines bundling of products and offering operating models, which is a perfect combination."

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