Visit Health, a prominent player in the telehealth and wellness sector has successfully raised Rs 250 crore ($30 million) through a blend of primary and secondary transactions. This funding round included the sale of shares by Docprime Technologies, the company’s current promoters, and its employees.
The newly acquired funds will be allocated towards expanding Visit Health’s operations, notably through a strategic partnership with the health and wellness platform TatvaCare. This collaboration aims to enhance the services and reach of Visit Health in the wellness industry.
This recent investment follows DocPrime’s earlier infusion of approximately $7.5 million into Visit Health in October 2021. Additionally, the New Delhi-based company received $1.4 million in seed funding from notable investors, including MapmyIndia, Snapdeal co-founders Kunal Bahl and Rohit Bansal, and Hetero Drugs Director Murali Krishna.
Earlier this year, PB Fintech announced its intention to divest 29% of its stake in Visit Health, valuing the transaction at Rs 76 crore ($9 million). The company also revealed plans to divest Rs 2 crore in Visit Internet.
Founded eight years ago, Visit Health specializes in customized wellness and OPD programs for SMEs, corporate employees, and their families. The company boasts a network of hospitals and claims to serve over 400 companies.
For the fiscal year ending March 2023 (FY23), Visit Health reported a significant revenue increase, reaching Rs 53 crore, up from Rs 17.55 crore in FY22. The company also managed to keep its losses below Rs 1 crore during FY23. Financial results for FY24 are yet to be filed.
On the same day, PB Fintech released its quarterly results, noting a slight decline in revenue to Rs 1,010 crore in Q1 FY25 from Rs 1,090 crore in the previous quarter. However, the company maintained steady profits, recording Rs 60 crore in Q1 FY25.
