Indian Couple Entrepreneurs Acquire A Medical Company
Bangalore: Delhi-based Portea Medical, a U.S. home healthcare model company has been acquired by two serial tech entrepreneurs - K Ganesh and Meena Ganesh, thus foraying into India’s blooming healthcare market which estimates at $2 billion. This was a 100 percent acquisition deal through a combination of cash and equity. The founders will however remain in the senior management of the company, reports TOI.
Founded and incorporated by Zachary Jones and Karan Aneja, Portea, is a pioneer company in India that runs the home healthcare model, a concept that prevails in the U.S., where clinicians pay home visits to provide improved and personalized healthcare services. It has over 200 referring physicians in Delhi and Bangalore and currently works with five Tier-I corporate hospitals.
With this acquisition, the company is also hoping to receive $10 million in VC funding through which it plans to expand its operations to Hyderabad and Mumbai. Recently, the serial entrepreneur couple started a family office called the Christened Family Growth which is also an investment arm that invested in OnlinePrasad.
Portea is the fifth venture of the duo; they also launched four greenfield startups with an aggregate capital of R1.6 Cr which was later sold to Marquee successfully.