HealthQuad: Creating the next generation of healthcare businesses to create accessible, affordable and quality health systems in India
About the fund
KOIS and Quadria capital co-founded HealthQuad in 2016. Since then, HealthQuad has become India's leading Healthcare Focused Venture Capital Fund. The fund typically invests in early stage companies with a high disruption potential in the healthcare industry. HealthQuad aims to contribute to improving affordability, accessibility and quality of healthcare services in India while generating attractive returns for investors.Investing in companies creating a quality, accessible and affordable healthcare system for all
In India, healthcare accessibility, affordability and quality are an issue for nearly 700 million citizens. By 2025, the sector will require investments of US$ 200 billion to further develop current healthcare infrastructure: 1.8M beds need to be added2, and 1.5M doctors to support the load.
To address this issue, KOIS and Quadria Capital – a private equity firm focused on healthcare in Asia – created HealthQuad, an Indian Venture Capital fund, in 2016. The fund specializes in disruptive healthcare businesses in India. It invests in delivery services and products with the potential to dramatically increase healthcare affordability, accessibility and productivity, while improving patient health and fostering innovation.
Since its creation, HealthQuad has invested in seven early-stage businesses.
Fund characteristics
Launch
2016
Deployed capital
$ 31M
Size of investments
$0.2-2.7M
Target net IRR
3x contributed capital
Portfolio companies
HealthQuad typically invests in early stage and pre-series A businesses. It takes significant minority stakes in its investees (20-50%). As for all of KOIS’ funds and investments, all of HealthQuad’s investees fit a strong impact investment thesis, serving the dual objective of positive societal/environmental impact and attractive financial returns.
Asian Institute of Nephrology & Urology: Providing high-end renal sciences across India
Company inception year: 2013
Investment year: 2016
As the diabetes capital of the world, India has 30Mn+ diabetes patients, contributing to the rise of chronic kidney diseases. Further complicating matters is a lack of quality institutions providing renal care in India.
Asian Institute of Nephrology and Urology (AINU) is a renal sciences hospital operating in Hyderabad established with the goal to meet the growing need for renal transplants. Willing to replicate its model in multiple Indian cities, it aims to provide renal science services and minimally invasive robotic-assisted surgeries to the high-risk Indian population.
AINU’s impact
- 66,000+ patient visits yearly
- US$ 500,000 total amount of discounts given to patients in need
- 40+ doctors including 15 super specialists
- 3,000+ hours of training provided
- 52% female employeesd
Hi-Impact consultants: Identifying and placing doctors in hospitals and medical colleges
Company inception year: 2011
Investment year: 2016
Hi-Impact consultants identifies and places doctors in over 300 hospitals and 70 medical colleges across the country. The company has added non-clinical hiring to its portfolio of services and focuses also on comprehensive manpower solution for new hospital project hiring.
Hi-Impact Consultants plays a vital role in providing a talent pool across the country, especially in Tier 2 and 3 cities.
Hi-Impact’s impact
- 300,000+ unique doctors in the database
- 300+ hospital clients
- 4,800+ jobs posted
- 70% female employees
Neurosynaptic Communications: Providing turnkey telemedicine solutions
Company inception year: 2002
Investment year: 2016
Neurosynaptic Communications is present in over 2,200 villages in India and other geographies, covering over 50M persons to date, often living in remote areas with low healthcare penetration. Its telemedicine platform, ReMeDi Nova offers over 35 point of care diagnostics and enables professionals to perform teleconsultations, tele diagnostics, patient screenings and health camps in rural areas at extremely low bandwidths.
Neurosynaptic Communications’ impact
- 550,000+ monthly teleconsultations
- 50M+ population touched
- 2,200+ village deployment across India
- 32% female employees
Regency Healthcare: Providing multi-specialty, single-specialty and secondary healthcare services across a network of hospitals
Company inception year: 1995
Investment year: 2017
Regency Healthcare operates more than 600 beds across 6 facilities in Kanpur, Uttar Pradesh. Hospitals are multi-specialty, single specialty (renal science and oncology) or secondary services focused.
It operates in one of India’s most underserved areas in terms of quality healthcare facilities. The company continues to focus on providing affordable healthcare to low and middle-income patients.
Regency Healthcare’s impact
- 340,000+ annual visits
- 30% beds allocated to those in need
- 16,300+ hours of training provided annually
- 170+ new jobs created annually
Strand Life Sciences: Providing bioinformatics and research biology to develop software and services for life sciences research
Company inception year: 2000
Investment year: 2018
120Mn+ Indian population is at high risk of developing cancer due to lifestyle related issues. Another 70Mn+ patients in India show a growing incidence of rare diseases. Lack of adoption of preventive screening tests results in under diagnosis of chronic lifestyle diseases.
Strand Life Sciences is a global bioinformatics and genomic profiling company. They are a leader in precision medicine diagnostics, aimed at empowering cancer care and enabling diagnosis of inherited diseases through 15 laboratories.
Their work on precision medicine has the power to drastically improve healthcare solutions for Indian masses at a fraction of the cost.
Strand’s impact
- 1M+ samples processed
- 10,000+ patients tested under subsidized rate
- 130+ clinical trials conducted
Medikabazaar: Providing an E-commerce marketplace for medical supplies to improve efficiency and bring costs down
Company inception year: 2015
Investment year: 2019
Medikabazaar addresses medical supply issues of hospitals in remote regions by providing a simplified platform for product discovery along with transparent pricing. Through the automation of supply chain and efficient inventory management the platform facilitates disintermediation of the distribution channel to bring cost savings for customers.
Medikabazaar’s impact
- 3,400+ hospital customers
- 2,300+ suppliers listed
- US$ 3M+ worth of loans to customers through financing
- 250,000+ products listed
- 50M+ units shipped
- 20% female employees
THB: Providing big data analysis to empower healthcare with business modules to improve patient outcomes
Company inception year: 2015
Investment year: 2018
There is a lack of personalized care for patients in India leading to poor prevention, control and compliance in clinical outcomes. The lack of structured healthcare data with records for 200Mn+ patients stored on private servers contributes to this problem.
THB is full stack (tech + data + insights) clinical intelligence company that helps healthcare providers structure their datasets to empower management and clinical teams to drive full-potential value from datasets.
This enables the transformation of the healthcare industry from doctor-based to data and evidence-based treatment and decisions, enabling better healthcare decisions for all stakeholders.
THB’s impact
- 32,000+ patient data added daily
- 3,000+ data partners
- 50,000+ doctors engaged
- 100+ cities covered
The fund’s impact
%
reduction in procurement cost for hospitals
Note: Last updated April 2020
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KOIS and Quadria capital co-founded HealthQuad in 2016. Since then,
HealthQuad has become India’s leading Healthcare Focused Venture Capital Fund. The fund typically invests in early stage companies with a high disruption potential in the healthcare industry. HealthQuad aims to contribute to improving affordability, accessibility and quality of healthcare services in India while generating attractive returns for investors.
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