NationWide Primary Healthcare Services Raises Rs 5.5 Crore in Debt From SVB India Finance

nationwideNationWide Primary Healthcare Services has raised Rs 5.5 Crores in a fresh round of venture debt funding from a group led by SVB India Finance.

The company, headquartered in Bangalore, is co-founded by two doctors, Dr. Santanu Chattopadhyay and Dr. Shantanu Rahman. NationWide operates through a chain of primary care clinics that provide personalized family doctor and allied health care services to individuals, families, and corporate groups through their chain.

Its operations are spread over 20 open-to-public and corporate clinics across Bangalore and Gurgaon, and will be launching new clinics in Delhi and the rest of NCR shortly. Their services include family physician consultations, women and child care, elderly care, home visits, doctor-on-call, diagnostic lab tests and chronic disease management services.

Until now NationWide has raised a total of Rs 31 crores in the form of Angel Investment and Private Equity funding from Norwest Venture Partners. The funds raised this time round are in the form of venture debt and bring the total funding to Rs 36.5 crores.

NationWide plans to use the new funding to diversify and further their expansion plans.

The healthcare space has been seeing a lot of investor interest and activity in the past one year and is said to be one of the spaces to look out for.

In July this year  serial entrepreneurs K Ganesh and his wife Meena Ganesh bought Portea Medical, a company which provides in-home healthcare services. In the same month pharmacy and drug database service, Healthkart raised a second round of funding from Intel Capital, Sequoia Capital and Omidyar Network, bringing the total funding raised from venture capital firms to $22.5 million.

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