HealthQuad: Creating the next generation of healthcare businesses to create accessible, affordable and quality health systems in India

March 10, 2016

About the company

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

Note: Last updated April 2020

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

outpatients and treated across 5 hospitals

inpatients treated across 5 hospitals

patients provided with tests at subsidized rates

%

reduction in procurement cost for hospitals

doctors and other employees trained across portfolio companies

teleconsultations done

Note: Last updated April 2020

Discover our other projects

BeCode: Training vulnerable job seekers to the digital jobs of tomorrow

BeCode aims to tackle the digital skill gap and unemployment issue all at once. By offering intensive digital training to vulnerable populations, this Belgian NGO already managed to put 65% of its trainees back to work.

From 2020 to 2025, BeCode will receive financing through a Social Impact Bond structured by KOIS. Actiris, the Brussels Employment Agency, will act as the outcome funder. The funding will support the training an additional 450 beneficiaries, with a focus on non-EU immigrants and women.

GIST Impact: measuring what matters, to make sustainability accessible to all

GIST Impact is a technology enabled impact measurement company. Their mission is to become the world’s leading Analytics, Solutions and Insights firm. This way, they want to help their clients discover, measure, value and manage their externalities’ impact, and thus make more sustainable decisions. 

miDiagnostics: creating the future of diagnostic care

miDiagnostics: creating the future of diagnostic care

Today, ensuring a fast diagnosis of the high number of patients to avoid transmission is critical. Unfortunately, diagnoses are highly time-consuming and hard to get for people in more remote areas. In fact, most accurate diagnostics require drawing blood, sample preparation & lab work. This can result in a long time between testing & treatment. It also means patients cannot be followed-up at home and that carrying out fast & accurate testing in the field is very difficult.