Seedfund-backed Vaatsalya Healthcare, a Bangalore-based startup that runs low-cost hospitals in rural and semi-urban India, has just become a Harvard Business School case study. Penned by Sourav Mukherjee and PD Jose of IIM Bangalore, the study will be used by MBA students at business schools around the world.
Founded by doctors Ashwin Naik and Veerendra Hiremath, Vaatsalya is India’s first hospital network focused exclusively on India’s Tier II and III towns. The company currently runs over ten hospitals, mostly in the South Indian states of Karnataka and Andhra Pradesh and aims to get to 20 in the region soon. It charges Rs 100-300 per bed per night and offers services in basic areas such as medicine, paediatrics, gynaecology, surgery and physiotherapy. It keeps costs low by limiting beds to 50 per hospital, leasing instead of buying real estate and hires support staff locally. The only area where expenses are reasonably high is doctors’ salaries which start at Rs 30,000 per month. Read more in this Outlook Business story.
Vaatsalya has had a fairly good run so far raising venture capital. After a $200,000 angel round raised from friends and Aavishkaar India Micro Venture Capital Fund, the company attracted $1.5 million in Series A funding from Seedfund and Aavishkaar in April 2008. Then in May 2009, Zurich-based Oasis Fund came in with a $5 million Series B round. The company’s revenue numbers are not publicly available.
Image Courtesy: Vaatsalya
2 Responses to “Vaatsalya now a Harvard Business School case study”
Trackbacks/Pingbacks
[...] Description : Seedfund-backed Vaatsalya Healthcare, a Bangalore-based startup that runs low-cost hospitals in rural and semi-urban India, has just become a Harvard Business School case study. Penned by Sourav Mukherjee and PD Jose of IIM Bangalore, … http://startupcentral.in/2011/ .. [...]
[...] and semi-urban consumers, pioneering a business model that has now become a Harvard Business School case study. Out of its 11 running hospitals, eight are in Karnataka and three in Andhra Pradesh and it has [...]