Japan-based home medical support company Human Life Management (HLM) has acquired 100 per cent stake in Care24, home healthcare platform operating in Mumbai and Delhi. The financial details of the deals were not disclosed.
HLM has been a prime investor in Care24 for the past two years and holds multiple businesses in healthcare and other sectors. Care24 will extend its robust service delivery and agile technology platform for HLM and will cater to the evolving healthcare needs of the customers.
Post the acquisition, HLM and Care24 will closely work together to scale and strengthen medical service offerings in India and additionally expand to other southeast countries like Thailand, Vietnam, Indonesia using HLM’s medical expertise and Care24’s software development and technology capabilities.
HLM will also play a pivotal role in launching new medical offerings for Care24 in the Indian market, like end of life care, critical care at home, family doctor subscription service, doctor on call, implbementation of care plan and Training of doctors along with training materials. While Care24 will expand its service offerings across multiple states in India, HLM and Care24 will begin operations internationally under the label of “Care24 international “, in aforesaid countries through a JV with a local medical service provider.
Vipin Pathak, Founder and CEO, Care24 said, “Our team has been working with the HLM team for the past 2 years and we could feel the synergy and compatibility in the thought process of both the teams. Yoshiki-San is a visionary leader and has a long term vision about the future of healthcare. His ambitious and aggressive plans around growth are highly encouraging and empowering for us. We aim to bridge the gaps of Global Medical expertise, best practices, capital and network in Japan, south-east Asia with HLM and Care24’s existing capabilities.”
Human life management is part of SIPS groups which runs Home Medical Care in Japan providing critical care to 6000+ families through it’s partnered Yushoukai Medical Corporation.
Yoshiki Sasaki, CEO of HLM, said on the occasion, “HLM was highly captivated by Care24’s strong delivery record of facilitating care at home to more than 1000+ families daily, between Mumbai and Delhi and thereby instituted an all cash acquisition. The amalgamation of HLM’s extensive medical expertise like care plan, understanding of end of life customer lifecycle management offerings and Care24’s sophisticated technology platform which algorithmically matches providers and seekers in real-time for home healthcare, will globally revolutionise and instil the much needed quality care.”
All earlier investors Elevation, IQ, DI, Start-up Health have received cash exit through this deal and all existing investors stands contented and aligned on the deal.
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