3 minute read

Medibuddy + Funding = High-Quality Healthcare?

February 26, 2022

Introduction:

During this pandemic, we have heard the word “healthcare” a lot. The Covid-19 pandemic shook the entire healthcare system to its core, rendering quality healthcare unattainable for many people. So, to make it more easily accessible to people in the comfort of their own homes, many healthcare organisations, companies, startups, and others stepped forward to work toward this goal. In this article, we will discuss one such healthcare company that is doing everything it can to help healthcare grow as much as possible. So, let’s get into the specifics of how this organisation is working towards the ultimate goal of quality healthcare and whether its method of doing so is advantageous enough or not.

Medibuddy: What and Why They Do?:

Medibuddy is an Indian virtual care company founded by Satish Kannan and Enbasekar D with a vision to weave a web of doctors, hospitals, healthcare providers, pharmaceuticals, and insurance companies to create a world of possibilities for people in need of healthcare assistance. Online doctor consultations, lab test booking, medicine delivery, and corporate health and wellness services are among the services offered by the company. By combining healthcare, science, AI technology, and human intervention, they hope to provide high-quality healthcare to as many as a billion people. The company operates on an enrollment basis and presently works with over 1200 employers in India. “Since MediBuddy’s inception, we have always envisioned making high-quality healthcare easily accessible to a billion people in the country,” Satish Kannan, Co-founder and CEO of MediBuddy, said in a statement.”We will soon begin rolling out new features on our platform, including additional extensions for healthcare professionals, software modules for healthcare organizations, and a new user interface for patients. We will also be expanding our network of healthcare professionals and technical personnel.”

Medibuddy and Its Funding in 2022:

Medibuddy announced a $125 million Series C funding round led by Quadria Capital and Light Rock India, intending to expand its data science capabilities and clinical research by hiring more employees and continuing product development. According to CrunchBase, this massive funding has brought this virtual health venture to a total raise of just over $192.1 million. Medibuddy also announced the completion of its $40 million Series B round. Existing investors Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, Jafco Asia, TeamFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital participated in the latest funding round. Not only that, but Medibuddy also got the legendary actor Amitabh Bachchan to be the company’s brand ambassador, to expand operations in various towns and cities.

Conclusion:

To conclude, Medibuddy is at a turning point in its trajectory. The company has made strides towards increasing its funding and expanding its services through telehealth. Hence, as the virtual health record continues to evolve, it is likely that telehealth will increasingly be integrated into hospital systems as telehealth has been shown to improve patient access to care, improve the quality of care provided, and increase efficiency. Medibuddy is a company that can change the game in the health industry. With its superior management team, overly influential brand ambassador and strong financial backing, Medibuddy is proving to be the future of the virtual healthcare world.

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