Even Healthcare Raises $20 Million to Expand Managed Care Services in India

Even Healthcare, a managed care provider based in Bengaluru and established in 2020, has successfully secured $20 million in fresh funding from investors like Lachy Groom and Alpha Wave Global, while Sharrp Ventures has also participated. This new infusion of funds has increased the total funding that the company has received so far to about $70 million and will help it implement plans to enlarge its hospital networks and ramp up the integrated care model.

The strategy adopted by the company entails managed care which centers around the health improvement of patients as a primary goal rather than the use of hospitals and clinics. The patient is taken through the entire sequence of events from the first teleconsultation to the patient’s father and even structured at-the-home recovery with coordinated diagnostics and hospital care being provided for the patient if required. The model has been instrumental in reducing deaths that could have been avoided through repatriation and has also made the patients’ paths of recovery easier.

Even Healthcare has been doing remarkably well over the past year. It launched the first hospital in Bengaluru and reported a decrease in the length of stay and a very low attrition rate for its online services. In addition, it has completed the employee stock ownership plan buyback, which is an indication that the company has been confident of its long-term growth.

The new investment will facilitate Even’s hospitals’ enlargement and the improvement of its managed-care delivery.According to Even’s management, this funding will enable them to access a larger patient population and make the model more robust, which is designed to incorporate technology, clinical care, and patient support at every stage of treatment and healing. Investors consider Even Healthcare’s performance-based method as promising in a market where the merging of healthcare providers is becoming more and more recognized as a necessity for obtaining quality health outcomes and saving costs. Even Healthcare is set to increase its network, improve clinical outcomes, and create a larger footprint in the Indian healthcare sector with this funding.