13 January 2022, Singapore – ABC World Asia (“ABC”), Singapore’s impact-focused private equity fund, has invested approximately US$15 million for a stake in healthcare services provider Healthcare At Home India (“HCAH”) in its Series B round. Backed by the Burman family, founders of leading multinational consumer goods conglomerate Dabur Ltd, HCAH was founded in 2012 and provides an expansive suite of personalised and professional healthcare services at home to patients across India. These services range from home ICU, long-term nursing care, and most recently, COVID-related care. The company has over 1,500 employees delivering quality out-of-hospital care that enables patients to recover in the comfort of their homes, while relieving the burden on healthcare infrastructure in the country. HCAH also partners pharmaceutical companies to offer large scale chronic disease screening programs and patient support services to enhance disease management and efficacy of treatment. In 2021, over 1 million patients benefited from HCAH’s clinical care services.

The investment in HCAH is in line with United Nations Sustainable Development Goal (SDG) 3, “Good Health and Well-Being”. Objectives under this SDG include achieving universal health coverage through better access to quality essential healthcare services and reducing morbidity and mortality from non-communicable diseases through prevention and treatment.

Sugandhi Matta, Chief Impact Officer at ABC, said, “By providing high quality out-of-hospital care at home, HCAH contributes to improving the quality and access of health services for patients by ensuring the continuum of care while easing the burden on the existing healthcare system. The positive impact it creates on both an individual and systemic level closely aligns with ABC’s key investment theme of ensuring better healthcare for all.  The COVID-19 pandemic has further highlighted the need to augment the conventional hospital-centric healthcare model with convenient and clinically focused care at home. We look forward to supporting HCAH as it continues on its mission to enhance access and quality of healthcare in India.”

Vivek Srivastava, Co-Founder and CEO, HCAH said, “The out-of-hospital care model is seeing accelerated uptake as countries are leveraging it to ensure alternate care delivery systems with benefits of delivering best in class health outcomes at lower cost, customized care and resource optimization through the adoption of physical and virtual care with digital tools.  This investment from ABC is crucial for HCAH to grow the out-of-hospital care segment in the country. The investment will be used to open 1,000-1,500 beds in transition care and long term care catering to physical rehabilitation and recovery. We would also be investing in technology and data capabilities to improve efficiency, build scale and develop better products especially in chronic disease management. We are delighted to have ABC on board as their impact focus closely aligns with our objective of creating social impact by increasing affordability and access to healthcare.”

Gaurav Burman, Managing Partner, Burman Family Holdings, said, “The total out-of-hospital care addressable market in India is estimated at US$35 billion and is forecasted to grow to US$85 billion by 2025. We founded HCAH nearly a decade ago to address this opportunity and remain confident that HCAH is the best team with the best platform in India to address this opportunity. We are delighted that ABC has joined us as partners and investors in HCAH, we shall look forward to benefiting from their expertise and guidance.”

Driven by increasing healthcare expenditure, an ageing population and better insurance coverage, the Indian out-of-hospital care market is poised to experience high growth. In addition to easing the chronic disease burden and reducing hospital readmission and hospital-acquired infections, out-of-hospital care offers a systemic relief to the overburdened healthcare system, which has been further strained by the recent COVID epidemic.

This is ABC’s second investment in the healthcare sector. In 2021, the private equity fund invested in Kim Dental, a leading dental care provider in Vietnam that is improving access to quality oral healthcare in the country. With the COVID-19 pandemic disrupting essential health services in many countries, investments that support and reinforce healthcare infrastructure to improve health outcomes play a critical role in ensuring the continued well-being of communities around the world.

 

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About ABC World Asia
ABC World Asia is a Singapore-headquartered and Asia-focused private equity fund dedicated to impact investing. We invest in companies that drive positive change by addressing the world’s most pressing challenges such as climate change, resource scarcity, and deepening inequality. Our investment themes include financial and digital inclusion, better health and education, climate and water solutions, sustainable food and agriculture, and smart and liveable cities.

We believe that investing with an impact lens demonstrates the positive power of private capital and can help to foster more innovative and resilient companies that deliver societal and environmental benefits. We are a disciplined investor with a rigorous and evidence-based impact assessment approach that aims to generate positive and measurable social or environmental outcomes, alongside a compelling risk-adjusted return for our investors.

Our investment themes are aligned with the ABC Framework for an Active Economy, a Beautiful Society, and a Clean Earth. The ABC Framework was established by Singapore investment company Temasek and builds on the ideals of the 17 Sustainable Development Goals set by the United Nations.

Our inaugural S$405 million fund includes investors such as Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries, and Singapore Power.

Visit www.abcworld.com.sg for more information.