Healthtech Startup Portea Medical, which
provides health care at home for patients acquired Bengaluru, based specialized
pharmaceutical distributor MedybizPharma in a cash and stock deal for an
undisclosed amount.
The company is engaged in
distribution, prescription refill, and therapy compliance support for specialty
medicines and provides patient assistance by improving access and increasing therapy
compliance. The company services corporates, insurance companies, hospitals,
institutions and nursing homes and cover diabetes, cardiology, oncology,
osteoarthritis, osteoporosis, rheumatoid arthritis, tuberculosis and neurology.
MedybizPharma was started in 2009
and has served more than 200,000 patients. It has 200 employees and is present
across 26 cities in India. The company was acquired from the Reliance ADA Group
by its Management Team in 2011. Portea Medical handles more than 60,000 home
visits a month across 24 cities in India. It had received $37.5 Million in
Series B funding from Accel, IFC, Qualcomm ventures and Ventureast in September.
Portea focuses on general primary
health care, post-hospitalization care, chronic disease management and allied
services such as diagnostics and medical equipment on hire thereby bringing the
entire gamut of healthcare services to a patient doorstep. The company works
with Hospitals, insurance companies and individuals to improve health outcomes
by providing continuity of care in home setting through doctors, nurses,
physiotherapists and nursing attendants employed by Portea. It has partnered
with more than 50 hospitals and has a network of referring physicians all over
India.
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