After acquiring stake in health tech start-up PSTakeCare in January’16, India’s home healthcare giant Portea Medical has announced fresh acquisition of home medical equipment service provider, Health Mantra India Private Limited today.
The acquisition was made for an undisclosed consideration of cash and stock, expands Portea’s penetration into large home healthcare areas like Sleep Medicine, Respiratory Care, Geriatric Care and Orthopedics.
Sharing views on the same, Meena Ganesh, MD & CEO of Portea said, “The Health Mantra team has built a very solid business over the last few years and we are pleased to have the opportunity to tap into their expertise and customer relationships.”
The Bengaluru-based Health Mantra was established in 2009 by Ashish Bhutada and Anoop Kodoli, with a strong team of over 30 biomedical engineers, physiotherapists and service staff and a service network across 5 states of Karnataka, Kerala, Tamil Nadu, Andhra Pradesh/Telangana and Maharashtra.
“Our alignment with Portea provides us a wider canvas to expand our operations across product lines and locations. We are already present across South India and Maharashtra; there is huge untapped demand in these markets as well as elsewhere in the country and we look forward to continuing to serve customers with patient-centric and holistic solutions,” said Ashish Bhutada, Co-Founder, CEO & Managing Director of Heath Mantra.
Prior to this, Portea had acquired specialty pharmaceutical distributor, MedybizPharma in November 2015. The company is also exploring other investments to expand its offerings to tackle the massive challenges brought on by India’s ageing population, the rising burden of NCDs (non-communicable diseases), which already lead to 53 per cent of all deaths and which are expected to account for 67 per cent of deaths by 2030.
Source: Public Health Foundation of India and the huge gaps in healthcare infrastructure.
