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Anvayaa – Elder Care Services Like No Other

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Anvayaa.

While the whole world is rushing to make products and cater services to the Millenials, some startups are catering to elder care in India. Among the various Elder Care Startups in India, Anvayaa Kin Care is one among them. Anvayaa is founded by Mr. Prashanth Reddy and Mrs. Deepika Reddy in 2016.

Anvayaa aims at the empowerment of the elderly as envisaged by their loved ones, who, due to unavoidable circumstances, cannot be physically present with them over a while. The Organization aims to provide a reliable and trustworthy support system that is a 360-degree Technology Enabled Service which not only provides Medical Support but also acts as a Social and Emotional buttress that synergizes the Overall well-being of the senior and brings about a paradigm shift in their happiness quotient & zest for life.

Anvayaa Elder care also empowers its users with greater control over the nature, methodology, quality, and type of service provided to their loved ones. These include Emergency Care, Daily necessities, Health Improvement, Social engagements, Emotional bonding, and overall support.

Read this article to know more about Anvayaa Elder Care success story, Anvayaa Founder, Business Model, Funding, History etc.,

Anvayaa – Company Highlights

Startup Name	Anvayaa
Headquarter	Hyderabad, India
Sector	Healthcare/Elder Care
Founders	Prashanth Reddy
Founded	2016
Revenue	INR 2.5 Crores (FY19)
Parent Organization	Anvayaa Kin Care Pvt ltd
Website	anvayaa.com

Anvayaa – About and how it works
Anvayaa – USP, and Innovation
Anvayaa – Target Market Size
Anvayaa – Founders and Team
Anvayaa – How did it start?
Anvayaa – Name, Tagline, and Logo
Anvayaa – Startup Launch
Anvayaa – User Acquisition
Anvayaa – Business Model and Revenue Model
Anvayaa – Startup Challenges
Anvayaa – Funding and Investors
Anvayaa – Competitors
Anvayaa – Advisors and Mentors
Anvayaa – Growth
Anvayaa – Awards and Recognition
Anvayaa – Future Plans

Anvayaa – About and how it works

Anvayaa is India’s only 360-degree, technology-enabled personalized senior care platform that offers a one-stop solution for all elder care needs be it assisting with healthcare, medical emergencies, socialization requirements, daily-needs, and payment management in addition to any other services that the elderly might require at their homes. To achieve these objectives, the company has tied-up with over 150 partners covering a range of services that include Home healthcare, hospitality, pharmacy, diagnostics, home maintenance providers, libraries, grocery, surveillance and security, lawyers and more.

Anvayaa allocates dedicated Care Managers to every elderly family who personally monitors the fulfillment of their needs. These Care Managers not only schedule doctor appointments & accompany the elders on their visits but also attend to medical emergencies. Also, they accompany the elderly while shopping, dinner, movies, entertainment, helping them shifting, finding a handyman to cater to mundane repairs, help with property & financial management including bill payments, medical claim reimbursements, online banking and more.

As an organization, Anvayaa strives towards creating trust and offering care to the elderly by being “a part” of their families while the kids live “apart” from elders. The salient aspect of the Anvayaa Care Managers and Service Providers is that they have Verified Backgrounds and are registered with the Police ’Hawk-eye’ (In Telangana).

The idea is to create awareness regarding the firm’s existence and excel in the services provided to seniors for being able to generate continuous referrals, while the ultimate vision is to be known as the best company for Senior Care Services in India. The ultimate mission of the Company is to make India a Senior Friendly Nation in consonance with our Ancient Traditional values and as desired by the Ministry of Social Justice and Empowerment, Government of India.

Anvayaa – USP and Innovation

Anvayaa Elder care is a first in India to be the 360-degree senior care platform.
The Business model is unique & Innovative. Anvayaa follows the People-Partners-Technology process. Through the platform, it delivers high touch personalized services to elders that can provide a sense of empowerment & dignity.
The technology platform ensures the optimal use of technology.
Transparency of service delivery.
IoT and AI integration towards transitioning from being a reactive care provider to a proactive care provider.

“We believe that we, by far, have the most innovative technology platform in the entire country in the eldercare space for efficient care and predictable service for senior citizens. Unique features such as the medical record management, Medical Emergency tracking system, auto reminders, E-wallet for managing bills/payments for parents are all currently available under our tech platform,” said Mr. Prashanth Reddy, Founder of Anvayaa.

The unique Anvayaa mobile app also empowers members to scan a QR code and verify the details of care managers for improved security. Cutting-edge Technology powers their day-to-day operations and provides the users with web and mobile interfaces to get real-time alerts on every service delivered. Care Managers also have dedicated mobile applications to manage tasks, handle medical emergencies and provide individual-specific care.

Anvayaa – Target Market Size

India is projected to have 350+ Million Estimated Senior citizens by 2050. Out of which 0.9 Million will be this venture’s target senior Families. The number of families living in metros is estimated to grow to 2.5 Million by 2050.

The market for products and services for seniors is expected to increase from almost $320 billion in 2013 to $436.6 billion by 2018 globally, representing a five-year compound annual growth rate (CAGR) of 6.4 percent.

According to a market research report by BCC Research. The global research agency Persistence estimates that the global elder care services market will reach a market valuation of USD 1767 billion by the end of 2025 reflecting an 8.4% CAGR over this period. For Anvayaa, the team envisions expanding its services across all Metros PAN India and also bringing in IoT and AI-based solutions for proactive care. They are anticipating to grow by 200% YoY in the next 5 years.

Anvayaa – Founders and Team

Prashanth Reddy is the Founder and Managing Director of Anvayaa.

Anvayaa Elder Care Founder — Prashanth Reddy, Anvayaa Founder

Prashanth met another co-founder apart from his wife, through a common friend. He had returned from Australia after his MBA and had earlier worked with Deloitte. Prashant spent a few hours with him and explained the overall concept and what he was trying to achieve. Then they met again after a couple of days and Prashant did give up another employment opportunity to join Anvayaa as it was emotionally connecting to him.

Prashanth Reddy has worked with Tata Consultancy Services in multiple leadership roles across the USA, Europe, Africa, and India in his 26 years of experience. He was the CEO of APOnline, a JV between Govt. of AP and TCS. He has been an entrepreneur for 12 years. He is a Computer Science Engineer and Alumni of UCLA – Anderson School of Management.

Deepika Reddy is the Director, manages the Financial Aspects and is involved in Strategy of Anvayaa. She has worked in the Financial and Insurance Industry for more than 15 years and was heading health and general insurance underwriting roles for Telangana and Andhra Pradesh.

Prashanth Patkar is the Head of Operations. He has a dazzling MBA from Australia and has worked as a Team Lead at Deloitte before joining Anvayaa for over 5 years. He heads the Operations of Anvayaa and plays a key role in New customer acquisition and managing day to day operations

The current company size at Anvayaa is 48 Employees and the company has a very open work culture with less hierarchy. They normally hire from Social work colleges and most of the hiring happens through internal references or references from friends and other professional colleagues.

Anvayaa – How did it start?

Having moved back to Hyderabad, India from the United States to take care of his elderly parents, Prashanth Reddy realized that a lot of his friends and cousins from the US reached out to him to help their parents. Though he politely obliged, later he realized that there has to be a better way to look into such needs of parents those who live independently.

One can fall back on friends and relatives in times of emergencies but will soon realize it is not always possible to seek their help for different reasons. One can’t expect them to attend to every small need. One must not forget their very purpose of existence, which is their parents who sacrificed and at the majority of times went beyond their abilities to ensure you are where you are today. It is time to take this opportunity that did not exist earlier and provide parents with care, comfort, and convenience.

“Not Providing Care to Our elderly is Abuse”, quoted Prashanth Reddy.

With this very belief the team chooses to make the life of an elderly peaceful and make them live with dignity in the society. Another quote the company uses more frequently is “Don’t wait until you see an empty Chair”. The Call to action is “act now”. This is to give the right message for the kids who want to provide the care for their elders and they did not have such an option earlier.

Thus, Anvayaa – which is a Sanskrit word that translates into “Family”, came to existence in early 2016. Anvayaa is India’s only 360 degree technology-enabled personalized senior care platform that offers one-stop- solutions for all elderly needs.

Anvayaa – Name, Tagline, and Logo

Once the team decided to start this company, the task was to find a suitable name. The core team initially started calling it Hap50 like happy after 50 years. Prashanth Reddy was however very particular in having a Sanskrit name for the company as they are Indians.

“My family was sitting in our living room and my wife, mom, and my daughter started to look for Sanskrit names with a meaning of old age, services, etc. But none were very impressive for us,” said Mr.Prashanth Reddy.

Finally, it was his daughter who started to search alternatives from Family in Sanskrit as we are serving a family and not just senior citizens. She found this name ‘ANVAYA’ and it felt good for all of them.

anvayaa Logo, tagline

“We then started to look for domains and we could find Anvayaa.com and there we go. We had the final Name ‘ANVAYAA KIN CARE’.” Added Mr. Prashanth Reddy.

The logo was another challenge. The team wanted to use the colors suitable for soothing, elders and caring with compassion. So the logo stands for all that and they were able to finalize after a few iterations.

The tagline of Anvayaa is another important story. This came up for discussions when one of their friends came from Australia and said you don’t have a tagline for people to understand. So the team started discussing and in that discussion they came up with “Care. Comfort. Convenience” as they were the most important things they were delivering to the customers and families.

Anvayaa – Startup Launch

Prashanth Reddy started with Secondary research with the available information on the public domain and it was all flooded with health care needs the seniors requires as no one is around to take care of them and the relevant numbers etc. He wanted to do Primary research and find out what was needed. So he decided to hire a few MBA Interns and prepared a survey.

Together with the interns, they obtained survey from about 400 people across Hyderabad who are all senior citizens and to their surprise, the need was to have a comprehensive service provider rather than just health and medical care.

Further to validate, they launched another survey targeting NRIs who lived away from parents and there the team got a positive response that was needed for them. Hence Prashanth Reddy and the core team officially launched Anvayaa.

Anvayaa – User Acquisition

The team used the following methods to target and attain potential customers:

Digital Marketing entirely – SEO’s, Google PPC’s and social media platforms.
Being transparent has always been the strategy. One Number for all the needs of the elderly is working very well for them.
Preferred pricing from all our vendors for Anvayaa Members. The partnerships includes the likes of Apollo’s, Portea’s Nightingales, 1MG, HouseJoy, Stanplus and more such reputed partners that help Anvayaa deliver quality care.
Predictability of Services and Compassion of the Care Managers.
Digital Marketing on real-life events and testimonials has worked as the best growth hack.
Regular feedback and actions.

Anvayaa – Business Model and Revenue Model

The Anvayaa revenue comes essentially from Anvayaa subscriptions revenue through Anvayaa members. The annual membership pricing starts from INR 50K- to INR 200K- per year per family depending on the type of services needed by them.

Anvayaa – Startup Challenges

Anvayaa, even though being a social startup, still faces a fair share of challenges. Some of them being direct competition, continuous focus on innovation & new market strategies and customizing subscription models based on customer needs for increased customer acceptance. Also, not meeting planned customer acquisitions, devise customer referral programs, increasing scope by rapid expansion to other cities are some other challenges faced by Anvayaa.

Anvayaa – Funding and Investors

The Anvayaa funding is essentially bootstrapped. In March 2019, Anvayaa raised INR 1.5 Crores from the team’s friends and family.

Anvayaa – Competitors

There are various Eldercare startups in India, such as Life Circle Senior Services, Healers at Home, Nightingales, Care 24, Seniority, Athulya Assisted Living, SeniorShelf and Elder Ease.

Anvayaa – Advisors and Mentors

Mr. Shakti Sagar – Founding leaders of Hyderabad’s IT industry. He has been part of many start-ups since the 1970s. Also, he has been an ADP India Managing Director.

Anvayaa – Growth

Anvayaa is operational in Hyderabad, Bangalore, Chennai, and Mumbai (from April-1st, 2020) and planning to start operations in Mumbai and Vizag from July 1st -2020. It has revenue of INR 2.5 Crores in FY19.

Anvayaa has a userbase of over 800 subscribed members. Majority of clients of Anvayaa are IT professionals.

Anvayaa – Awards and Recognition

The following awards are backed by Anvayaa:

Awarded HYSEA best software product under the social impact category
Recognized as the Hy 10 most to be watched startup by HYSEA for the year 2019
Global Top 10 social impact sector at the City Preneurs-2019 Award Seoul, South Korea-the only international start-up platform in the world that focuses on building the capacity of young entrepreneurs to offer revenue-generating solutions that help solve urban challenges within the framework of the Sustainable Development Goals (SDGs)
Awarded Social Enterprise award by Action for India 2019
Awarded Best Start-up’s Pitch among 250+ start-ups across India, at E-Summit 2020 @IIT Madras

Anvayaa Kin Care bags the prestigious HYSEA Award 2019

Anvayaa – Future Plans

Anvayaa’s future plans consists of:

Expansion to new Metro cities and aggressive customer acquisition
Transitioning from being a reactive care provider to proactive care provider with the help of (New wearable technology for seniors)
Investing in wearable technology and moving to tier 2 and tier 3 cities enabling revenue generation.
Technology platform stability
Stronger partner ecosystem

Frequently Asked Questions – FAQs

What is Anvayaa?

Anvayaa is India’s only 360-degree, technology-enabled personalized senior care platform that offers a one-stop solution for all elder care needs. It is useful for NRIs living abroad to take care of elders.

How much does Anvayaa charge?

The annual membership pricing starts from INR 50K- to INR 200K- per year per family depending on the type of services needed by them.

Where is Anvayaa services available?

Anvayaa is operational in Hyderabad, Bangalore, Chennai and plans to expand further.

April 3, 2021

Startups That Are Funded By Aishwarya Rai Bachchan

Over the past few years, there has been an increasing number of Bollywood stars trying to do different things to give their career a whole new direction. Some celebrities are investing in startups that align with their interests in order to enter the technological space that is booming in India.

In 2020, many celebrities like Alia Bhatt, Suniel Shetty, Shilpa Shetty Kundra, Madhuri Dixit Nene, Anushka Sharma, Katrina Kaif, Deepika Padukone and Sonu Sood have become angel investors to upcoming startups that have potential especially during the hard times of global pandemic.

While some celebrities have become entrepreneurs themselves and are leaving no stone unturned to get into the competitive business world. The latest inclusion in the list of actors turned investors is a world renowned actress, Aishwarya Rai Bachchan.

Aishwarya Rai Bachchan is an Indian actress, who was also crowned Miss World in the year of 1994. The former Miss World is one of the most influential celebrities in India and is a recipient of Padma Shri by The Government of India and The Ordre des Arts et des Lettres by the Government of France.

She is also regarded as the most beautiful woman in the world, often times by the media. The actress is known for work in movies like Devdas, Hum Dill De Chuke Sanam, Jodhaa Akbar, Mohabbatein, Enthiran, Ae Dil Hai Mushkil, among others. But besides that she is also known for her humanitarian work as she is also the Goodwill ambassador for UNAIDS.

Aishwarya is now an angel investor to a company known as Ambee, which is an environment intelligence startup. The actress has also recently funded in a nutrition based healthcare startup called Possible. This is however, not her first investment as she had also funded in a wind power project in Maharashtra over ten years back.

Possible
Ambee
Frequently Asked Questions

Lets look at the Startups Funded By Aishwarya Rai Bachchan

Possible

Possible is a nutrition based startup earlier known as Truweight Wellness which was founded by Vishnu Saraf and Megha More in 2015. The company offers research driven nutrition service and healthy food products through its website. It also helps in leading a sustainable health, wealth loss and management of lifestyle diseases.

The startup claims to help over 40 thousand people in losing weight and managing diseases and aims to transform lives of more than 10 million people by helping them fight Lifestyle Disease.

founders of Possible, Vishnu Saraf and Megha More — **Founders of Possible, Vishnu Saraf and Megha More**

The website has over 50,000 success stories with more than 100 nutritionists and doctors and sells more than 50 super foods. The company excels in providing services and products to Combat Obesity, Thyroid, PCOS, Diabetes’s and others.

The company offers a wide variety of services like video tutorials, personal nutritionists, online consultations with doctors, customized meal plans, super foods including a tech based scientist’s analysis with constant mentoring. The strategy of the company is to provide physician supervision by an ayurvedic doctor, a personal health coach that will guide you in dietary habits.

The healthcare startup also offers a Pocket clinic to get on spot advice from doctors and a wide range of nutrient rich food products that are designed by food scientists.

Possible aims to helps people live a long life by converting their own kitchen into a pharmacy and using food as their medicine. Which is why the startup managed to raise Rs. 5 Crore from Aishwarya Rai Bachchan as a part of a larger funding round which raised over Rs. 15 Crore in total.

Possible is also backed by Blacksoil and Kalaari Capital and has also offered letters to raise Rs. 6.69 Crore from six investors. There are over 90 million health conscious people in Indian by 2018, which is expected to reach 130 million by 2022, according to the Redseer report.

With Covid 19 Pandemic, the customers in the country are becoming health conscious and are preferring to eat healthy food to build their immunity.

Ambee

Ambee is a well-known Bengaluru based, environmental intelligence startup that makes a mobile box which measures particulate matter and high density to better analyze and predict immediate timely emergency warnings.

The company provides data on hyper local air quality for developers, consumers, health researchers and media companies. The company aims to measure the quality of air around the world, the ration sources of emissions, create emission inventory not just for urban but even in rural places around the world.

Aishwarya Rai Bachchan funding Ambee

The company was founded by Akshay Joshi, Jaideep Singh and Madhusudhan Anand in 2017. Ambee provides solutions for indoor air quality of different places like offices and commercial spaces like malls, hotels and cinemas, etc.

The platform helps its users make informed decisions or take preventive measures by providing data and analytics in the times environment distress. The data that the company provides includes sensor data, weather patterns, traffic data, ratio of diesel to petrol vehicles and even contextual data such as road repair, garbage burning and density of diesel generators.

The company monitors air quality with data through 100 sensors that has already been installed across Bengaluru. India has over 14 out of 20 of the most polluted cities in the world. According to World Health Organization (WHO), more than 10% to 50% of the indoor environments in countries like North America, Europe, Australia, Japan and India are polluted.

India has also witnessed a sudden growth in the number of cleantech/air purifier startups like Nanoclean, Clairco, Phoenix Robotix, Chakr Innovation, etc that are trying to solve India’s energy and pollution issues.

They have a variety of air quality monitors that can track a wide variety of pollutants and real time analytics in order to ensure that spaces know what people are breathing at that time and take corrective actions where necessary.

Which is why Aishwarya Rai Bachchan along with her mother Vrinda KR invested over Rs 50 lakh each at Ambee. The IoT startup has so far raised over Rs. 3.22 Crore from multiple investors Techstarts Bangalore, Touchstone Venture LLP, Motivated Minds Wealth LLP and Shekhar Kamal Lodha HUF.

Frequently Asked Questions

Who is Aishwarya Rai Bachchan?

Aishwarya Rai Bachchan is an Indian actress, model, a former Miss World and one of the most influential celebrities in India.

What are the startups funded by Aishwarya Rai Bachchan?

The startups funded by Aishwarya Rai Bachchan are Ambee and Possible.

What is the net worth of Aishwarya Rai Bachchan?

The net worth of Aishwarya Rai Bachchan is 100 million

What are the popular movies Aiswarya Rai Bachchan?

The actress is known for work in movies like Devdas, Hum Dill De Chuke Sanam, Jodhaa Akbar, Mohabbatein, Enthiran, Ae Dil Hai Mushkil, among others.

March 25, 2021

Now&Me – Taking The Nation Towards Better Mental Health!

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

With all the awareness initiatives and the movements taking place in the field of mental health, we see people talking about it but we actually don’t see people understanding what in reality goes behind being mentally unhealthy. For those who’ve felt like, “so many people have told me to open up, but nobody really understands what’s going on”, Bani Singh and Drishti Gupta launched nowandme.com in 2018.

Nowandme.com is an online safe space that’s bridging the gap between people, their problems and someone who wants to hear them and lend a helping hand. This venture believes in the power of human experiences and the community. The aim of this company is to develop a community where people can share their experiences and emotions without the fear of being judged. Also, this portal publishes blogs and videos on the website to generate awareness about pressing issues like mental health.

Now&Me – Company Highlights

Startup Name	Now&Me
Headquarter	Gurgaon
Sector	Healthcare
Founders	Bani Singh and Drishti Gupta
Founded	2018
Parent Organization	NowAndMe
Website	www.nowandme.com

About Now&Me and How it Works
Now&Me – Target Market Size
Founders of Now&Me and team
How was Now&Me Started?
Now&Me – Name and Logo
Now&Me – Startup Launch
Now&Me – Startup Challenges
Now&Me – Funding and Investors
Now&Me – Revenue Model
Now&Me – Growth
Now&Me – Future Plans

About Now&Me and How it Works

It’s as simple as logging onto nowandme.com and pouring your heart out!

Now&Me has shared and displayed more than 4000 personal and heartfelt experiences. Meaningful, wholesome and sensitive interactions take place among the community every day. One can choose to post/respond anonymously as well. nowandme.com is a pace where you can truly be who you are. It is basically a form of kinder internet, where you don’t have to pretend to be someone you’re not.

nowandme.com lets you connect with strangers on a deeper level and allows you to heal, learn and grow through mixed experiences of individuals. It acts as a platform for people going through a rough phase in life and wanting someone to talk to. Even those who want to share their achievements and success stories can be found. It is a community that is growing with each passing day.

Now&Me is a glocal brand, which started in Delhi-NCR. It conducts various offline events and workshops regularly. The most recent one being on ‘Stress Relief’ at IIT-Delhi. Another event on ‘Social Media’ was conducted by the team at LSR. ‘Create Don’t Hate’ was organized at SelectCity CityWalk Mall in association with JustDelhiing. The team has also created offline no-judgment zones, talking circles, network therapy, and safe spaces to encourage catharsis and been an active part of activities like Drum Circle – Music Therapy and Art Therapy as well.

Now&Me – Target Market Size

According to the WHO, “There is growing evidence of the global impact of mental illness. Mental health problems are among the most important contributors to the burden of disease and disability worldwide. 5 of the 10 leading causes of disability worldwide are mental health problems. They are as relevant in low-income countries as they are in rich ones, cutting across age, gender, and social strata. Furthermore, all predictions indicate that the future will see a dramatic increase in mental health problems.”

Founders of Now&Me and team

Bani & Drishti, Cofounders of NowAndMe — Bani & Drishti, Cofounders of Now&Me

Now&Me co-founders Bani Singh and Drishti Gupta are college friends. Both of them graduated from Lady Shri Ram College for Women, Delhi University in May 2019 with a degree in statistics. They officially started working together in February 2019, while in the last year of college. Bani mainly handles the creatives (content+curation) while Drishti looks into the technology, communications, and outreach. Usually, it is a bit of everything that the two of them need to pay attention to.

The Now&Me team also includes tech support staff and constant help from interns. They only recruit individuals who are passionate about the cause and can grasp the complexities and commitment required to run the organization. The team mainly hires in the field of web development, content creation and communications.

How was Now&Me Started?

The idea and inspiration for the company came to the co-founders after seeing the people around who were going through some or the other issues or problems in life, but were not able to find an outlet to let out their troubles. Drishti and Bani tested the idea amongst the peers in college, and their response was taken into consideration.

Now&Me – Name and Logo

Now&Me logo

Other than the obvious choice of domain availability, the name- “Now and Me” signifies being in the present with one’s feelings.

Now&Me – Startup Launch

Now&Me was launched through word of mouth and social media while the co-founders were in college. Support from friends and families helped Drishti and Bani in giving the initial push to the brand. Regular offline events helped as well in building the brand identity. Everybody is going through something in life and everybody needs a shoulder to lean on. NowAndMe is that shoulder.

“To spread awareness among people regarding our product, we constantly share content on our social media pages and also upload informative blogs every week on the website, most of which are written by mental health experts. This has attracted more people and motivated them to share their feelings with us.” says Bani, co-founder of nowandme.

Now&Me – Startup Challenges

The biggest challenge for Now&Me is the long-standing stigma around mental health, that stops people from seeking help even when they know that it’s the right thing to do. Conducting safe, small talking circles in an attempt to encourage people to open up and own their feelings has proved to be extremely novel and successful in getting people’s attention.

Now&Me – Funding and Investors

NowAndMe has been bootstrapped and has not raised any funds yet.

Now&Me – Revenue Model

NowAndMe is a free platform and records no revenue.

Now&Me – Growth

nowandme.com gets over 10,000 unique visits every week, and has about 1000 registered users.
nowandme.com ranks amongst the best 10k websites in India (via Alexa Rankings)
Mr. Ankur Warikoo, former CEO, nearbuy.com is an esteemed supporter.
NowAndMe has conducted events on ‘Stress Management and Mindfulness’ in esteemed institutions such as Indian Institute of Technology, Delhi (IITD)

The co-founders say that while they want to keep the platform free, they also want to provide users with access to the right kind of knowledge and professionals. For this, they will be compiling different means of recourse available, such as online and offline therapy, 24/7 helplines and tele-counselling services, and workshops.

Now&Me – Future Plans

“Along with the sharing platform, we also aim to become the Yellow Pages for Mental Health in India.” Now&Me founder Bani Singh said emphasizing on the company’s future plans.

The long-term agenda is to integrate good professional help in the Now&Me platform along with its existing endeavors towards mental health and its affordability, availability and accessibility.

March 21, 2021

Docttocare – Making Healthcare Accessible

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

Gone are the days when one had to rely on word of mouth to find a good doctor, or when one had to stand in queues to book an appointment with the doctor. Thanks to the online appointment booking platforms, finding the best doctors is now easier than never before. Through these platforms, one can find doctors specific to one’s health problem and book appointment in clicks.

One such platform that is simplifying the process of booking an appointment with the doctor and diagnostic centers is Docttocare. Moving a step forward this Bangalore based startup even arranges for transportation of the patient to the clinic if required, thus making good quality health care services more accessible.

StartupTalky interviewed Docttocare founder Sugandha to learn further about this startup.

Docttocare – Company Highlights

Startup Name	Docttocare
Headquarter	Bangalore
Founder	Sugandha Agarwal
Sector	Healthcare
Founded	2016
Parent Organization	Doctto Online Healthcare Innovation Pvt. Ltd.
Website	www.docttocare.com

About Docttocare and How it Works
Global Appointment Scheduling Software Market
Docttocare – Founder and Team
Docttocare – Name and Logo
Docttocare – USP and Innovation
Docttocare – Revenue Model
Docttocare – Funding and Investors
Docttocare – User Acquisition
Docttocare – Startup Challenges
Docttocare – Advisors and Mentors
Docttocare – Growth
Docttocare – Future Plans

About Docttocare and How it Works

Docttocare is an online healthcare service provider. Docttocare provides its users information about the best doctors, clinics, hospitals and diagnostic centers. The platform also offers virtual walkthroughs of the ambiance to showcase hospitality and their facilities. It makes booking appointments super easy and assures the confirmation of online appointment through call, SMS or email. Docttocare launched its services in 2018 at NASSCOM Bangalore.

Docttocare is one of the leading healthcare online portals that enable users from non-metro cities to access and book an appointment with doctors and hospitals located in major cities. Docttocare app handholds the users through the entire process of identifying the right doctors/hospitals and scheduling appointments on the desired date. Docttocare covers everything from dentist, gynecologist, dermatologist, ENT, ayurvedic and homeopathy.

Docttocare is making lives easy for doctors too. Docttocare helps the doctors increase the visibility of the services provided by them, and also provides facilities such as seamless integration with online payment. It also lets the doctors view patient records from anywhere, remind the patients about the appointment and manage the clinic through Docttocare dashboard.

Global Appointment Scheduling Software Market

The global appointment scheduling market was valued at 160 million USD in 2017 and is expected to surpass 360 million USD by the end of 2023. Again, the doctor’s appointment booking software market alone is expected to grow at a rate of 16.56% for the next five years, i.e. till 2023.

Docttocare Founder, CEO and Team

Sugandha Agarwal is the founder and CEO of Docttocare

Sugandha Agarwal is CEO & Founder of Docttocare — Founder & CEO of Docttocare

Docttocare is a single female founder company. Sugandha Agarwal is the founder and CEO of Docttocare. An electrical, electronics & communication engineer by qualification, Sugandha worked with reputed organizations like Infosys, Oracle and Google Maps before starting Docttocare.

I do everything except writing codes. Jokes apart, driving partnerships with hospital brands, building end-user acquisition strategies, spending time with product positioning, etc are key responsibilities, says Sugandha Agarwal.

Docttocare has 15 members of team right now and looking for expanding in a couple of months.

Docttocare – Name and Logo

The name Docttocare has been derived from ‘Doctor to care’.

Docttocare – USP and Innovation

Some USPs of Docttocare are-

Instant online ambulance booking – This feature allows the users to book an ambulance online instantly. Once booked, the user can track the live status of the fleet, the arrival time of the ambulance the expected time it will take to travel.
Blood Bank Facility – Lets users track the availability of bold groups with the hospital.
Manages health reports – Docttocare lets the users search, compare, evaluate and also share health record and prescription with doctors, thus making the platform user-friendly.
Simplifies the process of shortlisting a doctor or medical center – Docttocare allows the users to choose the best of doctors and clinics or hospitals based on ratings and helps the users in making an informed decision. It also provides a virtual 3D panoramic tour of the hospital thus making the users get a fair idea of the hospital or clinic even before visiting the place.
Docttocare also offers free cancellation and re-scheduling of appointments.

Docttocare – Revenue Model

Docttocare has a simple commission – based revenue model. While the services are free for the patients, it charges a 10% commission from the hospitals.

Docttocare – Funding and Investors

Docttocare raised seed funding worth INR 4 Crore in May 2019.

Funding Date	Funding Stage	Funding Amount	Investor
May 2019	Seed	INR 4 Crore	Krishna Kumar Devnally

Docttocare – User Acquisition

Getting the initial set of customers required great effort. The Docttocare team roamed around Bangalore and enrolled the small clinics.

“We used to visit at least 20 clinics per day. After some time when we started getting revenue from appointments then we realized Tier 2 cities people are more keen to get treated by reputed doctors, and they need transport as well, which we tried to solve”, recalls Sugandha.

Currently, Docttocare is focusing on tier 2 and tier 3 cities to provide access to prime hospitals and connecting them with ambulance service and proving stay also.

Docttocare – Startup Challenges

“Startup journeys are full of challenges, which to be honest, I didn’t realize before taking the plunge. Thanks to the media, who always show the shiny side of it. Keeping professional and personal life separate & fulfilling is one of the biggest challenges and I had to let one of them go for a few years.” said Sugandha.

Building the team, acquiring an initial set of customers/partners, honing her selling skills were part of the early days’ challenges for Sugandha. Besides, though she had a brief coding background and was able to keep up with the engineering/product team but being in sync with them fully took her some time.

Challenges like customer acquisition, revenue were there since day one, but Docttocare now has a qualified team to take care of these aspects. Another major problem was raising funds.

“Raising funds was the other (good) problem we solved. While starting up, I did not realize that I’d have the inherent disadvantage of being a solo female founder. I got my reality check, when one of the prominent angel investors with a massive following on social media, mentioned this fact bluntly to me. They didn’t even delve into business and rejected the deal outright. But being a female founder gives you additional strength (in terms of team management and creativity), which not many investors realize. Incidentally, I met with our investor/mentor a year ago and he decided to support us” narrates Sugandha.

Docttocare – Advisors and Mentors

Along with being the investor of Docttocare, Krishnakumar also plays the role of a mentor for the company. He is the Director of M-Power Solutions.

Docttocare – Growth

Through its excellent services, Docttocare has been successful to slowly gain trust from doctors and patients alike.

The company has enrolled all the major hospitals like Apollo, Manipal, Medanta and many more.
Docttocare is now getting around 300 + appointments per day.
4000+ medical tests have been done through Docttocare.
500+ clinics, 100+ hospitals and 2000+ doctors are registered with it.

Docttocare – Future Plans

Docttocare is planning to bring many positive changes in the healthcare scenario of India.

Emphasizing on Docttocare’s future plans, Sugandha said “I want to take healthcare in India to a much higher level. We have a dearth of doctors in this country and the patient count is undoubtedly increasing. People often ignore their minor health-issues, either due to lack of healthcare service or because of effort/cost that may go into addressing it.”

Awareness of health issues would be their next goal. How can they help you to be healthy without investing much? Something as simple as cutting refined sugar & unhealthy fat from the diet, eating your dinner early in the day, etc can go a long way in improving the fitness standard.

Making quality healthcare accessible to masses has been the company’s dream and they are very early in solving it. Currently, they have to move people to let them enjoy the benefits of high-quality services, but the eventual goal would be to send services wherever they are. Training local people on healthcare services, equipping them with the right tools and making them work under the supervision of qualified practitioners is the way forward.

December 18, 2020

McKesson Unveils Insight Into Hospital Pharmacy Trends

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company had revenues of $231.1 billion in 2020.

McKesson is based in Irving, Texas and distributes health care systems, medical supplies and pharmaceutical products. Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags.

McKesson – Company Highlights

Startup Name	McKesson Corporation
Former Names	Olcott & McKesson(1833–1853), McKesson & Robbins(1853–1999), McKessonHBOC(1999–2001)
Headquarters	Irving, Texas, U.S.
Industry	Healthcare
Founded	1833
Founder	McKesson, Charles Olcott
CEO	Brian S. Tyler
Areas Served	Worldwide
Website	www.McKesson.com

McKesson – About and How it Works?
McKesson – Logo and its Meaning
McKesson – Founder and History
McKesson – Mission
McKesson – Business Model
McKesson – Revenue and Growth
McKesson – Investments
McKesson – Acquisitions
McKesson – Competitors
McKesson – Challenges Faced
McKesson – Future Plans

McKesson – About and How it Works?

McKesson Corporation is a healthcare supply chain management solution, retail pharmacy, community oncology and speciality care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

It operates through three segments: United States Pharmaceutical and Speciality Solutions, European Pharmaceutical Solutions and Medical-Surgical Solutions. The United States Pharmaceutical and Speciality Solutions segment distributes pharmaceutical and other healthcare related products and provides pharmaceutical solutions to life sciences companies. European Pharmaceutical Solutions segment provides distribution and services to wholesale, institutional and retail customers. Medical-Surgical Solutions segment distributes medical-surgical supplies and provides logistics and other services to healthcare providers.

McKesson – Logo and its Meaning

The McKesson logo is a great example of how a simple strict word mark can look modern and stylish.

Logo of McKesson

The brand’s logo is composed of its word mark and the slogan beneath. The key role in the logo design takes the colour palette. Its main colour is common for the pharmaceutical industry design blue. But it has a small and bright accent, which changes everything – an orange line under the letter “C”.

This colour accent makes the logo look fresher and contemporary, even though the typefaces used in the word mark and slogan are both very classic.

McKesson – Founder and History

In 1833 Charles Olcott and his partner John McKesson founded Olcott & McKesson, a wholesaler and importer of botanical drugs. Twenty years later, with the death of Olcott and the addition of Daniel Robbins, the firm was renamed McKesson & Robbins. Over the next 100 years the company grew significantly by persuading other distributors of wholesale drugs to become its subsidiaries.

In 1967 the firm faced a hostile takeover by Foremost Dairies, being renamed Foremost-McKesson. The parent had no corporate strategy and began acquiring diverse businesses, from sporting goods to candy. In 1976, new executives worked to streamline its operations by selling low-profit units. They also reorganized it into four groups: drugs/healthcare, wine/spirits, foods, and chemicals.

The new leaders also aimed to redefine the firm’s “middleman” distributor role by making it more indispensable. They did so by offering data processing procedures that were essential for both customers and suppliers, enabling the company to act as part of their marketing teams. The value-added partnership was prized by small businesses that had difficulty competing with national chains.

The strategy made it a top wholesaler and led to annual profit increases of 20% on average. In 1979, it divested over one-third of its holdings to focus on retail and healthcare products. It also began acquiring much healthcare product distribution firms, including technology-related outfits, and shortened its name to McKesson in 1984. By 1990 it was the leader of the drug wholesaling industry.

McKesson – Mission

McKesson’s mission statement says, “To provide products, services and solutions of the highest quality and deliver more value to our customers that earns their respect and loyalty.”

McKesson – Business Model

McKesson is a distributor and provider of healthcare services and technology. The company operates two reportable business segments:

Distribution Solutions – Distributes generic and branded pharmaceutical drugs and other healthcare-related products, and provides practice management, clinical support, technology, and business solutions to community-based oncology and other speciality practices.
Technology Solutions – Provides enterprise-wide clinical, financial, patient care, strategic management, and supply chain technology solutions, as well as outsourcing, connectivity, and other services (including managed and remote hosting services) to healthcare organizations.

McKesson – Revenue and Growth

| Year | Amount | Change From Last Year |
| — | — | — | — |
| 2020 | $234.194B | +5.5% |
| 2019 | $214.319B | +2.86% |
| 2018 | $208.357B | +4.95% |

McKesson – Investments

McKesson has made 2 investments. Their most recent investment was on Mar 27, 2019, when Xealth raised $11M.

Date	Organization Name	Round	Amount
Mar 27, 2019	Xealth	Series A	$11M
Mar 29, 2017	SHYFT	Series B	$7.5M

McKesson – Acquisitions

McKesson has acquired 44 organizations. Their most recent acquisition was Echo on Jun 19, 2019.

Acquiree	Date	Amount	About Acquiree
Echo	Jun 19, 2019	–	Simplifying pharmacy, helping everyone get the medicine they need
Medical Specialties Distributors	Apr 25, 2018	–	Full service medical supply and biomedical equipment distributor
Well.ca	Dec 4, 2017	–	Well.ca is a Canadian online store for health, wellness, beauty and baby essentials
RxCrossroads	Nov 6, 2017	–	RxCrossroads Specialty Solutions is committed to connecting patients to therapy
CoverMyMeds	Jan 25, 2017	$1.1B	CoverMyMeds is a healthcare tech platform helping doctors and pharmacists complete PA and insurance coverage determination forms for drugs
HealthQx	Jul 12, 2016	–	HealthQx specializes in data analytics and decision support software to bring transparency to the healthcare industry
Vantage Oncology	Apr 4, 2016	$525M	Vantage Oncology, Inc., offers a comprehensive development, implementation and management solution for radiation oncology
Rexall	Mar 2, 2016	$2.1B	Rexall is a drugstore operator with a dynamic history of innovation and growth
Biologics	Feb 25, 2016	$1.2B	Biologics provides a patient-focused platform for managing the financial, emotional, and physical burdens of cancer treatment
UDG Healthcare	Sep 16, 2015	€408M	UDG Healthcare specializes in supply chain, packaging, medical, regulatory, and sales and marketing

McKesson – Competitors

McKesson top competitors include EMIS Group, Walgreens Boots Alliance, Owens & Minor, Henry Schein, AmerisourceBergen, Cardinal Health and Walgreens.

McKesson – Challenges Faced

Increasing complexity and growth in integrated delivery networks : The lines between care settings are blurring as hospitals integrate with medical practices, infusion centres and home care, to form sophisticated networks delivering comprehensive patient care. While the number of hospital mergers declined in 2018, mega mergers are the new standard. The need for business partners to help networks diminish complexity and streamline operations across the continuum of care has become increasingly important as leaders work diligently to do what is right for the patient.
Hospitals expanding speciality pharmacy footprint, swiftly : Speciality pharmacy has been a top trend for the past several years as utilization and drug spend have dramatically increased across healthcare. As hospital and health systems experienced nearly 20% growth in the speciality drug market in 2018, health systems continue to establish their own speciality pharmacies or expand their existing capabilities. Speed to therapy and ongoing patient support are still critical.
Out-of-pocket costs impacting patients and revenue : Speciality drugs have emerged as important treatment options for cancer and other complex diseases, but there can be significant access and affordability issues with speciality drugs. The cost of speciality medications and the increased adoption of high-deductible health plans (HDHP) have placed a higher financial burden on patients. As out-of-pocket costs increase – from higher costs or insurance denials – patients are more likely to abandon their treatment plans.
Finance and pharmacy leadership relying on data-informed decisions, not intuition : Pharmacy directors face increasing pressure from performance-based reimbursement and diminishing resources. To alleviate these pressures, pharmacists need to leverage data and analytics to reduce costs, help maintain a healthy bottom line and support quality patient care. However, not all health systems have the tools and resources to aggregate and sift through data in order to apply comprehensive, real-time analytics to deliver better care effectively while maintaining a healthy balance sheet.

McKesson – Future Plans

A new strategic planning solution for oncology practices is now available to customers through McKesson’s Business Advisory Services, a team of experts dedicated to helping speciality practices solve financial and operational challenges through consulting, analytics and technology.

“Tremendous change is happening in the healthcare industry, especially in oncology,” said Catherine Swick, VP of Speciality Provider Strategy at McKesson. “While practices cannot control the future, strategic planning can help them prepare for what may come, while identifying opportunities to remain strong and viable. As an advocate of community oncology, we are excited to offer our strategic planning solution to our oncology customers as it will enable them to grow and thrive in a way that’s meaningful and valuable to their practices.”

McKesson’s strategic planning process helps practices create a vision for the future, while equipping them with short-term tactical planning to drive momentum and results. The comprehensive planning process starts with an analysis of the practice’s data, so the McKesson team thoroughly understands its challenges and opportunities and the practice has baseline metrics to guide its discussion and decisions. This is followed by a facilitated retreat with physicians and key staff to align on top priorities and culminates in a detailed three-year action plan for each initiative selected by the practice, providing the structure to make daily decisions that follow the larger vision.

November 28, 2020

Abbott – Winning almost two-thirds of the accounts

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

Founded in 1888, Abbott Laboratories is a global, diversified, healthcare company that discovers, develops, manufactures, and markets pharmaceutical, diagnostic, nutritional, and hospital healthcare products. Headquartered in Chicago, Illinois, it is one of the top healthcare product makers in the United States.

Abbott employs 70,000 people worldwide, and it has 150 facilities and 60 manufacturing sites. The company focuses on advancing medical science and the practice of healthcare, and it has demonstrated expertise in the therapeutic areas of diabetes, pain management, respiratory infections, HIV/AIDS, men and women’s health, and pediatrics. Its products are sold in 130 countries.

Abbott – Company Highlights

Startup Name	Abbott Laboratories
Headquarter	Abbott Park, Illinois, United States
Industry	Health care, Medical devices, Pharmaceutical
Founder	Dr. Wallace Calvin Abbott
Founded	1888
CEO	Robert Ford
URL	www.abbott.com

Abbott – About and How it works?
Abbott – Logo and its meaning
Abbott – Founder and History
Abbott – Mission
Abbott – Business Model
Abbott – Revenue and Growth
Abbott – Funding and Investors
Abbott – Investments
Abbott – Acquisitions
Abbott – Competitors
Abbott – Challenges Faced
Abbott – Future Plans

Abbott – About and How it works?

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals business into AbbVie in 2013.

Its business operations are divided into four business divisions: Women’s Health & Gastrointestinal, Gastroenterology and Hepatic Care; Speciality Care; GenNext & Vaccines, and Consumer Care. Women’s Health & Gastrointestinal, Gastroenterology and Hepatic Care division has a mix of global and local brands present in the pregnancy, constipation and liver diseases segments. The Speciality Care division consists of a range of products in the treatment of central nervous system and metabolic disorders. The GenNext division focuses on several therapy areas, including pain management, vitamins and pregnancy.

Abbott – Logo and its meaning

Logo of Abbott

The Abbott logo perfectly represents the strong character of the leading pharmaceutical corporation, showing the importance of innovations and development, along with the value of its clients and their wellbeing.

Abbott – Founder and History

Dr. Wallace Calvin Abbott is the founder of Abbott Laboratories.

Abbott was started by Dr Wallace C. Abbott, a practising physician. Dr. Abbott began producing alkaloid medicine in 1888 in the rear of his drug store in Chicago. He incorporated the Abbott Alkaloidal Company, a medical publisher and manufacturer, in 1894. The company expanded outside the US in 1907, adding an affiliate in London. It produced its first synthetic medicine, Chlorazine, for use in the First World War as an antiseptic.

Abbott had its initial public offering in 1929, at the onset of the Great Depression. Despite the unfortunate timing of the IPO, Abbott continued to expand over the following decades through entering new businesses such as vitamins and intravenous solutions.

It developed Pentothal, the world’s most widely used anaesthetic, in 1935. With the onset of the Second World War, Abbott was requested by the US Government to join a consortium of pharmaceutical manufacturers to support wartime efforts through the production of penicillin.

The late 1900s saw a revamping of the Abbott brand, with its iconic ‘A’ logo being adopted in 1959. Its 1964 acquisition of M&R Dietetics made Abbott a world leader in nutrition, its largest business segment by sales at present. The introduction of a blood analyser and a radioimmunoassay test for detecting hepatitis in 1972 saw the entry of Abbott into the medical diagnostics business, another key business segment at present.

Another key achievement is the introduction of the first licensed test to identify serum HIV – a significant stepping stone in the fight against the disease.

The 2000s saw a series of significant acquisitions and expansions, including the opening of an R&D facility at the University of Illinois, Urbana-Champaign, in 2009. Abbott also acquired Kos Pharmaceuticals for USD3.7 Billion in cash in 2007, Knoll, BASF’s pharmaceutical division, in 2001, the pharmaceuticals unit of Solvay in a deal worth USD6.2 Billion in 2010, and CFR, a Chilean generic drugs manufacturer, in a deal worth USD2.9 Billion that would see Abbott doubling its generic drug portfolio.

Abbott – Mission

Abbott’s mission statement says, “At Abbott, we’re all about helping you live the best life you can through good health. We keep your heart healthy, nourish your body at every stage of life, help you see clearly, and bring you information and medicines to manage your health.“

This is done by advancing leading-edge science and technologies, valuing diversity, focusing on exceptional performance, earning the trust of consumers, and sustaining success.

Abbott – Business Model

Abbott has four main business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products.

Established Pharmaceutical Products – These are branded generic pharmaceuticals, including gastroenterology products, women’s health products, cardiovascular and metabolic products, pain and central nervous system products, and respiratory drugs and vaccines. These products are manufactured around the globe and are sold generally outside the US. This segment takes up 18% of sales.
Diagnostic Products – These are diagnostic systems and tests, including immunoassay and clinical chemistry systems, point-of-care diagnostic systems and cartridges for blood analysis, DNA and RNA extraction and processing instruments, genomic-based tests, informatics and automation solutions for laboratories, rapid pathogen identifying instruments, and haematology systems and reagents. These are produced, marketed, and sold worldwide. This segment takes up 23% of sales.
Nutritional Products – These include products both for infants and adults, including infant formula, enteral feeding products, and adult and other paediatric nutritional products. These are sold worldwide. This is its largest segment, taking up 34% of sales. It also takes up a significant proportion of global market share, with Abbott representing over 50% of global Adult Nutrition sales.
Vascular Products – There are a range of devices used for the heart and the vascular system in general, including various stents, vascular scaffolds, coronary balloons, coronary guide wires, mitral valve repair systems, and vessel closure devices. These are sold worldwide.

Abbott – Revenue and Growth

In 2000 the company’s sales and net earnings were $13.7 billion and $2.8 billion, respectively, with diluted earnings per share of $1.78. For the fiscal year ended December 31, 2001, sales rose 18 percent to $16.29 billion; net income fell 44 percent to $1.55 billion. The company’s hospital and pharmaceutical segments have been receiving higher unit sales, which is reflected as higher revenues. Approximately $1.33 billion of its 2001 revenues went into research and development. Abbott Laboratories revenue for the twelve months ending September 30, 2020 was $32.221B, a 2.76% increase year-over-year.

Year	Annual Revenue	Percentage change
2019	$31.904B	+4.34%
2018	$30.578B	+11.64%
2017	$27.39B	+31.35%

Abbott – Funding and Investors

Abbott has raised a total of $6.8M in funding over 2 rounds. Their latest funding was raised on Mar 15, 2011 from a Debt Financing round.

Announced Date	Transaction Name	Amount
Mar 15, 2011	Debt Financing – Abbott	$100K
Mar 16, 2009	Debt Financing – Abbott	$6.7M

Abbott – Investments

Abbott has made 8 investments. Their most recent investment was on Jan 13, 2020, when Bigfoot Biomedical raised $55.1M.

Date	Organization Name	Round	Amount
Jan 13, 2020	Bigfoot Biomedical	Series C	$55.1M
Aug 14, 2017	Alere	Post IPO Equity	–
Sep 8, 2015	SetPoint Medical	Series C	$15M
Aug 25, 2010	Respicardia	Series C	$27M
Nov 27, 2007	Evalve	Series D	$60M
Jan 13, 2007	Ovalis	Series B	$6.6M
Nov 6, 2005	Ovalis	Series A	$2.5M
Jan 12, 2004	Hydra Biosciences	Series B	$18.9M

Abbott – Acquisitions

Abbott has acquired 36 organizations. Their most recent acquisition was Cephea Valve Technologies on Jan 16, 2019.

Acquiree Name	Announced Date	Amount	About Acquired Company
Cephea Valve Technologies	Jan 16, 2019	–	Medical device company
St. Jude Medical	Apr 28, 2016	$25B	Medical device company
Kalila Medical	Apr 6, 2016	–	Medical device company
Alere	Feb 2, 2016	$5.3B	the Massachusetts-based point of care testing company
Tendyne Holdings	Jul 31, 2015	$250M	Medical device company
Veropharm	Dec 12, 2014	$305M	Russian pharmaceutical company
Topera	Oct 29, 2014	$250M	Medical device company
CFR Pharmaceuticals	May 15, 2014	$2.9B	Pharmaceutical Company
OptiMedica	Jul 15, 2013	$400M	Silicon Valley-based ophthalmic device company
IDEV Technologies	Jul 15, 2013	$310M	Houston medical device company

Abbott – Competitors

The top 10 competitors in Abbott’s competitive set are Johnson & Johnson, Pfizer, Novartis, GSK, Merck, Medtronic, Philips, Bio-Rad, Quest Diagnostics, and Danaher.

Abbott – Challenges Faced

The crises of the early 1970s left the company’s upper echelon of management weakened and vulnerable to criticism. Although Edward Ledder was recognized for the success of his diversification program (and largely excused for his inability to prevent either the cyclamate ban or the intravenous solution crisis), conditions were obviously ripe for the expression of talent by a new manager. Robert Schoellhorn, a veteran of the chemical industry, was just such a manager. His efforts as a vice-president in the hospital products division at Abbott resulted in a revenue increase of 139 percent for that division between 1974 and 1979. He correctly predicted that the next most profitable trend in health care would be toward cost-effective analysis and treatment. Schoellhorn was later promoted to president and chief operating officer of the company.
Abbott has faced lawsuits over its drug Tricor, FreeStyle diabetes products and St. Jude defibrillators. The company was also named co-defendant alongside AbbVie in lawsuits over the popular pharmaceutical drugs Humira and Depakote.

Abbott – Future Plans

Abbott Labs is headed is to look at the products that it’s most excited about today: FreeStyle Libre, MitraClip, and the Alinity systems.

FreeStyle Libre is a continuous glucose monitoring (CGM) system, which doesn’t require a finger stick. The product has been an enormous commercial success, and is likely to remain one for a long time to come. Abbott hopes to receive FDA approval to launch the next version of FreeStyle Libre in the U.S. in the near future. The new features on the device should make it attractive to customers and provide a big boost to sales.

MitraClip enables the minimally invasive treatment of mitral regurgitation, which is caused by a leaky heart valve. It’s already the leading device used to treat that condition, but the FDA’s recent approval for its use in a new indication (patients with mitral regurgitation resulting from underlying heart failure) has expanded its market opportunity.

The Alinity systems include a lineup of laboratory diagnostic instruments. CEO Miles White said in Abbott’s Q1 conference call that the company is “winning almost two-thirds of the accounts where we’re head-to-head with an entrenched competitor.”

All three reflect a focus on internal innovation that drives Abbott Labs’ organic growth. And that seems likely to be the story for the company for years to come.

November 16, 2020

Philips: Aiming to improve lives

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

Royal Philips is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries.

Philips – Company Highlights

Startup Name	Koninklijke Philips N.V.
Headquarters	Amsterdam, Netherlands
Industries	Conglomerate
Founders	Gerard Philips, Anton Philips
Founded	15 May 1891
CEO	Frans van Houten
Areas served	Worldwide
Website	www.philips.com

Philips – About and How it works?
Philips – Logo and it’s meaning
Philips – Founder and History
Philips – Mission
Philips – Business Model
Philips – Growth and Revenue
Philips – Investments
Philips – Competitors
Philips – Challenges Faced
Philips – Strengths
Philips – Future Plans

Philips – About and How it works?

Koninklijke Philips N.V. (literally Royal Philips, commonly shortened to Philips, stylized in its logo as PHILIPS), a Dutch multinational conglomerate corporation that was founded in Eindhoven, is a technology company, which engages in the healthcare, lighting, and consumer well-being markets. Since 1997, it has been mostly headquartered in Amsterdam, though the Benelux headquarters is still in Eindhoven. Philips was formerly one of the largest electronics companies in the world, currently focused in the area of health technology, with other divisions being divested.

It was founded in 1891 by Gerard Philips and his father Frederik, with their first products being light bulbs. It currently employs around 74,000 people across 100 countries. The company gained its royal honorary title in 1998 and dropped the “Electronics” in its name in 2013, due to its refocusing from consumer electronics to healthcare technology.

Philips is organized into three main divisions: Personal Health (formerly Philips Consumer Electronics and Philips Domestic Appliances and Personal Care), Connected Care, and Diagnosis & Treatment (formerly Philips Medical Systems). The lighting division was spun off as a separate company, Signify N.V. (formerly Philips Lighting prior to 2018). The company started making electric shavers in 1939 under the Philishave brand, and post-war they developed the Compact Cassette format and co-developed the Compact Disc format with Sony , as well as numerous other technologies. As of 2012, Philips was the largest manufacturer of lighting in the world as measured by applicable revenues.

Philips – Logo and it’s meaning

Logo Evolution of Philips

The first time when the wavy lines and star spangles became part of the Philips logo, was around 1925. Two people claimed to be the author of the Philips logo: Kalff and Johan van der Ley. Kalff said that creating the wavy lines he was inspired by the idea of sound waves travelling through the air, while Johan van der Ley emphasized the stars, which, according to him, were inspired by electric lighting. The logo has been featuring blue since 2008, with minor shifts of the shade.

Philips – Founder and History

The Philips Company was founded in 1891, by Gerard Philips and his father Frederik Philips.

Frederik, a banker based in Zaltbommel, financed the purchase and setup of an empty factory building in Eindhoven, where the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has since been adapted and is used as a museum.

In 1895, after a difficult first few years and near bankruptcy, the Philipses brought in Anton, Gerard’s younger brother by sixteen years. Though he had earned a degree in engineering, Anton started work as a sales representative. With Anton’s arrival, the family business began to expand rapidly, resulting in the founding of Philips Metaalgloeilampfabriek N.V. (Philips Metal Filament Lamp Factory Ltd.) in Eindhoven in 1908, followed in 1912, by the foundation of Philips Gloeilampenfabrieken N.V. (Philips Light bulb Factories Ltd.). After Gerard and Anton Philips changed their family business by founding the Philips corporation, they laid the foundations for the later electronics multinational.

In the 1920s, the company started to manufacture other products, such as vacuum tubes. In 1939, they introduced their electric razor, the Philishave (marketed in the US using the Norelco brand name). The “Chapel” is a radio with built-in loudspeaker, which was designed during the early 1930s.

Philips – Mission

Philip’s mission statement says, “At Philips, we are striving to make the world healthier and more sustainable through innovation, with the goal of improving the lives of 3 billion people a year by 2030.” They are teaming up with hospital and health systems to understand their needs, provide integrated solutions, and engage in multi-year cooperation to drive improvements in terms of patient outcomes, quality of care delivery and cost productivity.

Philips – Business Model

Philips’s operations are organised into three reportable business segments:

Healthcare, comprising the Company’s production and sale of healthcare devices and solutions, including imaging systems, healthcare informatics, and patient care and monitoring products;
Consumer Lifestyle, comprising the Company’s production and sale of domestic appliances, personal care, and health and wellness products; and
Lighting, comprising the Company’s sale of light sources and electronics – including LED and fluorescent lighting products, consumer luminaries – including lifestyle and decorative lighting solutions, and professional lighting – including road lighting and office lighting.

The Company has introduced a slightly new structure for 2016 that reflects its increased focus on healthcare. Going forward, the Company’s healthcare business will be divided into three separate operating segments: Personal Health, Diagnosis and Treatment, and Connected Care and Health Informatics.

Philips – Growth and Revenue

Philips’s revenue has decreased by 26.3% in last 4 years.

Year	Annual Revenue	Percentage change
2020	$20.499B	-15.51%
2019	$21.82B	+1.96%
2018	$21.401B	+6.49%
2017	$20.097B	-25.92%

Philips – Investments

Philips Healthcare has made 3 investments. Their most recent investment was on Mar 27, 2019, when Xealth raised $11M.

Date	Stage	Amount	Organization Name
Mar 27, 2019	Series A	$11M	Xealth
Sep 27, 2018	Non-Equity Assistance	–	Linkingmed
Apr 11, 2017	Series C	$36M	ALung Technologies

Philips – Competitors

Philips competitors include GE Healthcare, Siemens, Samsung, LG Electronics and Fitbit. Philips’s revenue is the ranked lowest among it’s top 10 competitors. The top 10 competitors average 34.9B. Over the last three quarters, Philips‘s revenue has decreased by 26.3%.

Philips – Challenges Faced

Highly competitive business environment
Counterfeit goods – a major threat to manufacturers of branded electronics
Environmental and other government regulations
Exchange rate fluctuations
Availability of cheaper technology in local markets

Philips – Strengths

Subsidiaries in more than 100 countries with more than 120,000 employees
Operates around 110+ production facilities
Has a very strong R&D portfolio, with 7 active R&D centers across the globe
Market leadership and strong brand equity – market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions with consistent growth rate in emerging market
Aligning operations with market conditions to increase productivity – Philips focused on de-layering its management structure to increase speed of execution and lower operating costs, resulted in improvement in efficiency
Customer loyalty is high for consumer electronics made by Phillips

Philips – Future Plans

The ‘Hospital of the Future‘ vision looks at building smarter, safer and sustainable hospitals which will be driven by design thinking and smart technology. Philips is aiming to improve the lives of 3 billion people a year by 2030.

Philips, which is celebrating its 90th anniversary in India, has started manufacturing of MRI consoles, Magnetic Resonance Imaging etc. It is also exporting MRI components to various markets.Dutch health-tech and consumer electronics company Philips said it will invest Rs 250-300 crore to boost its manufacturing and R&D facilities in India. The company also intends to hire 1,000 people over the next two to three years, adding to its existing workforce of over 6,000 people.

“Even as we work through the current crisis, we are focused on the future and are investing towards it,” Daniel Mazon, vice chairman and managing director for Indian subcontinent at Philips India

The company also sees demand increasing for its connected care solutions amid the Covid-19 pandemic and will work towards more public-private-partnerships (PPP) in this space.

November 10, 2020

5 Fast-Growing Businesses You Should Invest In

Entrepreneurs and people looking to invest in businesses have never had it better than they do today. Businesses nowadays, are not only claiming a niche for themselves, solving numerous user problems and ushering in the future of the modern era, but they are also attracting huge wealth. Stock markets are expanding each day and the values of the shares of the companies are ever-expanding, setting new records with each passing day. Such investments are all coming from venture capitalists (VCs), angel investors, and other startup enthusiasts or businessmen.

Though investing in growing businesses can seem to be a shortcut to making a huge amount of wealth in a short time without much brainstorming, it is not exactly what it looks like. Churning out a good amount of money by investing in startups and businesses is a tough nut to crack even for the investing giants, who also incur huge losses in the process. However, there are processes to follow, much experience to gather, and a good amount of knowledge to grasp, which will lead you towards becoming one with the successful investors.

Yes, if you’re planning to jump on this bandwagon and grow your money with short-term investments in a business, now is the time. However, the first step is to decide which industry you should invest in.

To start with this process, here we’ve put together a list of the fastest-growing sectors to help you with this decision of investment.

Here are the top 5 industries that are currently growing at a quick pace in India:

Food Industry

With continuously higher annual contributions to the international food trade, this is one of the fast-growing businesses, which makes it a good bet for investors and business people alike.

The food market and its survival is essential for mankind. Besides, the latest trends that are fuelled by the research and development in the market are making foods healthier and more appetising than ever. Food choices are increasing and conveniences to procure food are decreasing, and all of that is happening due to the ever-increasing potential of the food market. The revenue in the food market of the US amounts to $8.77 tn in 2022. Food market is growing all across the globe really. Even in India, we see a huge rise of food and foodtech startups that are innovating the purchase and delivery of food products. From food processing giants like Nestle, Parle, Britannia, Amul, and Haldiram’s, to food delivery startups like Zomato, Swiggy, to the new-age meat startups like Licious and TenderCuts, vegan foods and plant-based meat startups, everyone is contributing largely to the food industry of the country and exploring new possibilities for themselves and their investors to grow.

Restaurants and food delivery businesses throughout the nation are seeing rapid growth as well. Consumers in the country are also spending far more on specialty gourmet and healthy foods than they did in the past, which makes food retail an attractive option. This sector offers an unlimited potential for high profits and ROI, particularly in segments such as food processing, packaging, and value addition. The Indian gourmet food market has been valued at $1.3 bn, which is growing at a CAGR of 20%.

Tourism Industry

India offers an endless variety of attractions for both foreign and domestic tourists, from historic monuments to lush natural reserves, quiet hill stations to bustling markets, and more. In recent years, the tourism sector has picked up tremendously and is one of the fast-growing businesses, especially with a rise in disposable income among young professionals. Rather than heading to international locations for vacation, Indians are spending more time and money exploring different parts of the country. This makes the tourism and hospitality industry a great choice for investors.

The travel and tourism industry’s contribution to the overall GDP of the nation was estimated at $121.9 bn in 2020. This will further rise, according to the latest reports, and would reportedly be reaching nearly $512 bn by 2028. MakeMyTrip, Yatra, Goibibo, EaseMyTrip, ClearTrip, and more such players are widening opportunities for the Indians to travel at their ease anywhere they want.

Healthcare Industry

Along with an increase in the average life expectancy and income levels, growing awareness about health and wellness has contributed to the rapid growth of India’s healthcare sector. This has also brought the medical sector into the category of fast-growing businesses.

In addition to the evolution of hospitals, clinics, and healthcare centers, research and development have significantly increased in segments like medicines, their delivery, alternative therapy, health insurance, medical devices, and infrastructure, and more. Don’t forget that India is also a leading medical tourism destination, with people from around the world heading here for dental treatment, cosmetic surgery, and other healthcare aids.

Looking at the growth of the healthcare sector in India, while the hospital industry in India is growing at a CAGR of 16-17% and will soon reach $132.84 bn, the pharmaceutical sector of India is worth $42 bn, courtesy of the pharmaceutical giants operating in India. The pharmaceutical sector of India is positioned 3rd in terms of volume and enjoys the 13th place in terms of value as per the recent surveys.

This growing healthcare sector is now flooded with numerous startups like 1Mg, HealthKart, mFine, Netmeds, Practo, PharmEasy, MediBuddy, HealthifyMe and more, which are strengthening healthcare across various segments and beefing up its offerings.

Retail Sector

The retail sector in India has seen immense changes and growth in the last few years, especially after the emergence of the e-commerce and online shopping space. With the world’s second-largest middle class that also has a high disposable income, competitive pricing, and rapid digitalization of the retail space, India currently ranks 5th on the list of global retail destinations. From small-scale startups to well-established giants, the retail industry offers something for every investor so much so that the would-be entrepreneurs are also practically spoilt for choice in this industry!

Though the retail market was identified as a largely unorganised sector earlier, it is fast bringing an organised structure in place. The organised portion of the retail sector is now more than 50% of the industry, and this growth has manifested in just teh period between 2012-present. The modern retail industry is now expected to grow at a CAGR of 15% and will even estimated to increase to 18% by the end of 2025.

So, if you are looking for investment in the fast-growing businesses of now, then the retail industry is definitely one of them. Besides, with the retail giants like the Tata Group, Reliance Group, Aditya Birla Group, D-Mart and more, and the growing talks of superapps like TataNeu and that of the ONDC and how it will change the retail sector, the retail industry is definitely a dream pick for the investors.

Personal Care

The range of products and services offered by India’s personal care industry has undergone tremendous changes over the years. Today, almost everyone is willing to spend more money on a variety of organic, handmade, and natural alternatives for their daily use. These include soaps, shampoos, makeup, hair styling products, and intimate hygiene solutions.

The beauty and personal care market in India has been estimated at $24.53 bn in 2022, and is expected to scale to $33.33 bn by 2027, the growth of which is estimated at 6.32%.

Selling through online portals surely opened up more opportunities for small business owners and the larger ones. Besides, quality beauty and personal care brands and their products are made available easily online by the D2C beauty and personal care brands like Nykaa, Plum, Tattva, Mamaearth, Wow Skin Science, Purplle, and more. Also, the personal care giants like ITC, HUL, Dabur, Godrej and its subsidiaries, Colgate, etc., are always renovating their products and revisiting their quality and effectiveness to give the startups a fight. Moreover, scopes are always increasing in wedding planning, tattoos, and piercings, spas, massage therapy, and other related sectors.

If you’re seeking funds to launch your dream business, grow your existing business or take advantage of a time-bound investment opportunity with high returns, consider using a personal loan. An unsecured loan or personal line of credit can be repaid over time, which makes sense if returns from your investment will be higher than the loan interest!

FAQs

What is the fastest-growing retail store?

Retailers Rising to the Top – Based on these metrics, activewear brand lululemon is the world’s fastest-growing retail brand for the second year running. Famous for its culture of accountability and global community events, the brand has struck the perfect balance between a seamless online and offline experience.

What is the role of the food industry?

The role of the manufacturing food industry in relation to the provision of foods for the weanling encompasses 4 main objectives viz. customer satisfaction, safety, providing product information, and the maintenance of commercial viability.

What is the meaning of the tourism industry?

In its broadest sense, the tourism industry is the total of all businesses that directly provide goods or services to facilitate business, pleasure, and leisure activities away from the home environment.

October 17, 2020

SastaSundar – Provides the Best and Genuine Healthcare Solutions!

This post has been approved by the organization it is based on.

The number of startups in the Indian health-tech space has further increased during the COVID-19 pandemic. Several innovative solutions were provided by the healthcare startups in containing the spread of the virus. One such leading healthcare company in India is SastaSundar.com. The company provides services in the areas such as Pharmacy, Wellness, and Diagnostics. SastaSundar was founded in the year 2013 by B L Mittal and Ravi Kant Sharma. Here is the company’s profile describing its journey through these years.

SastaSundar – Company Highlights

Startup Name	SastaSundar
Headquarters	Kolkata
Sector	HealthCare
Founders	B L Mittal, Ravi Kant Sharma
Founded	2013
Parent Organization	SastaSundar MarketPlace Limited
Website	www.sastasundar.com

SastaSundar – About
SastaSundar – Founders and Team
SastaSundar – Vision and Mission
SastaSundar – Name, Tagline, and Logo
SastaSundar – Growth and Revenue
SastaSundar – Funding and Investors
SastaSundar – Business and Revenue Model
SastaSundar – Competitors
SastaSundar – Future Plans

SastaSundar – About

SastaSundar is a web portal that focuses on the wellness of the people by providing information and knowledge about the medicines and healthcare products that are being purchased. SastaSundar.com connects Independent Licensed Chemists to its customers to clarify their queries on the products. The orders are fulfilled only on confirmation of the associated Independent Licensed Chemists. The health-related services of the company include Medicine Substitutes, Health tools, Symptoms Checker, Infographics, and Health Profiles. The products offered are also of different categories such as Nutritional Supplements, Home Care, Ayurvedic, and Herbal products.

SastaSundar – Founders and Team

The founders of the company are B L Mittal and Ravi Kant Sharma. They have worked together for 16 years. Ravi Kant Sharma is the CEO and B L Mittal is the Executive Chairman of the company. Banwari Lal Mittal worked with Birla Corporation Limited for eight years and he is also a member of Chartered Accountants, Corporate Secretaries, and Costs and Works Accountants of India. Ravi Kant Sharma is also a member of Chartered Accountants and along with Mittal, he founded financial business services in the year 2000. The company now works with around 950 employees.

SastaSundar – Vision and Mission

The mission of the company is to provide genuine, high-quality products and offer greater services at lower prices. SastaSundar encompasses knowledge and digital connectivity in the convenient marketing of their products.

SastaSundar – Name, Tagline, and Logo

The phrase ‘SastaSundar’ denotes customers’ desire of purchasing high-quality products at a low cost. ‘Health and Happiness’ is the tagline of the company.

SastaSundar – Growth and Revenue

The company raised a revenue of Rs.218.53 Crore in the financial year 2019. The estimated annual revenue of the company is around $80M.

SastaSundar – Funding and Investors

SastaSundar has generated a total amount of $5M from Rohta Pharmaceutical in May 2017 through funding.

SastaSundar – Business and Revenue Model

The company uses a hybrid business model that combines the product offerings with digital updates. It uses both online and offline retail models with different payment options for the customers.

SastaSundar – Competitors

The leading competitors of the SastaSundar are 1mg, Netmeds, PharmEasy, Marketplace Ltd, CareOnGo, Medlife, and Apollo Pharmacy. SastaSundar stands ahead from its competitors with its sustained growth and updates according to the people’s needs.

SastaSundar – Future Plans

The company aims to expand its Pharma and Wellness services on a global scale by 2024 and also to create an impact on millions of lives with health and happiness.

September 23, 2020

Droice Labs – Harnessing AI to Deliver Data-Driven Personalized Medicine!

Healthcare deeply and meaningfully impacts every single person on earth. Droice Labs was started with a belief that they can make healthcare sector better, a lot better, by empowering decisions based on data, and that AI is a tool that can empower doctors to provide higher quality care.

Droice Labs’ technology leverages a combination of the latest medical research and learning algorithms to offer doctors with critical real-time data to make the right decision, enabling doctors to improve patient outcomes and streamline patient flow through health systems. Read this article to know about Droice Labs, products/services, founders & team, and achievements.

Droice Labs – Company Highlights

Startup Name	Droice Labs
Headquarter	New York
Sector	Healthcare
Founders	Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, Dr. John Kahoun
Founded	2016
Parent Organization	Droice INC
Website	droicelabs.com
Contact	hello@droicelabs.com

About Droice Labs and How it Works
Droice Labs – Target Market Size
Droice Labs – Product/Services
Founders of Droice Labs and team
Droice Labs – Recognition and Achievements
Droice Labs – Future Plans

About Droice Labs and How it Works

Droice Labs is an AI company specializing in understanding real-world clinical data to solve problems across the healthcare system. Its solutions provide answers to the key questions that healthcare entities have, helping them to make optimal decisions and to better understand diseases and the patients they affect.

The company uses the latest advances in machine learning and analytics to build products that streamline clinical workflow and help doctors make the best decisions in the toughest of circumstances, faster. Their versatile AI pipeline can be integrated with a large range of healthcare data sources such as Electronic Medical Record systems. These products affect millions of clinical decisions every day and have touched the lives of millions of patients.

Droice Labs Logo

“We use this technology to help payers, providers, and hospital finance teams to fill documentation correctly, capture missed revenue, and fill care gaps. With our deep patient and disease understanding engine, we also help payers detect over-billing, design better plans and prioritize the right interventions to cover”, said Mayur Saxena, CEO of Droice Labs.

The company’s multidisciplinary team of doctors, data scientists, engineers, researchers, and security experts is passionate about transforming healthcare by empowering data-driven healthcare decisions. They have a very open environment where people are encouraged to share new ideas. The team is intelligent, curious, ambitious, imaginative, and passionate about technology.

Droice Labs – Target Market Size

The company’s target is the global healthcare market. Currently, it is active in the US & Europe where the total market size for the values it creates for healthcare systems is approximately $20B and growing.

The company’s offerings also cater to R&D and Medical Affairs departments within life sciences companies in the area of Real World Evidence studies and intelligence, and the total current market size for these services is over $100B globally.

Droice Labs – Product/Services

Droice Labs’ flagship product, Droice Hawk is an AI-based platform that helps doctors, hospitals, life sciences, and payers make more informed decisions and improve outcomes. The core of Hawk technology is the company’s medical language understanding engine Flamingo, which is trained on billions of diverse clinical notes.

Flamingo can find meaning in free form medical text in multiple languages including English, French, German, and Russian, and can easily incorporate new languages. This technology is used alongside other states of the art machine learning methods to deliver unprecedented real-time insights and action plans at both population and individual patient levels.

Hawk can sift through both structured and free form data from disparate patient data sources like electronic medical records, lab systems, claims databases, and pharmacy systems to generate high-resolution snapshots of patients. These insights delivered by Hawk help key stakeholders in the healthcare space to make better healthcare decisions for all:

Hospitals gain revenue in risk-sharing contracts and provide better, more efficient care.
Payers can detect overbilling, design better plans, and prioritize the right interventions to cover.
Life sciences companies can identify populations and cohorts for driving real-world evidence on certain conditions and therapies, understand the market better, and conduct high-impact research.

Founders of Droice Labs and team

Droice Labs was founded by Mayur Saxena, Ashanideepta Bhattacharya, Tasha Nagamine, Harshit Saxena, Aleksandr Makarov, and Dr. John Kahoun.

The team of Droice Labs is composed of people with world-level expertise in Healthcare Business, Medicine, Artificial Intelligence, Natural Language Understanding, and Life Sciences data-driven research.

Mayur Saxena, Ph.D. | CEO: Mayur has been part of several high growth startups. He has spent the last decade in healthcare data strategy and precision medicine. He is the Cofounder of Ardent Cell Technologies, a cell therapeutics company in the diabetes space, where the technology is undergoing human clinical trials.

Co-founder and CEO of Droice Labs — Mayur Saxena

Previously, Mayur worked with some of the largest management consulting firms designing a strategy for artificial intelligence-based healthcare offerings. He currently advises several companies on AI strategy and the “data play”.

Tasha Nagamine, MS | Data science: Tasha specializes in a special domain of AI — biologically inspired neural networks. As part of her Ph.D. work at Columbia University, she developed cutting-edge technologies to elucidate the reasoning behind neural network-based predictions.

Co-founder and Chief AI Officer — Tasha Nagamine

At Droice, Tasha leads the AI team to develop state of the art technology that understands a doctor’s thought process through natural language understanding.

Harshit Saxena, MS | Engineering: Harshit manages the integration of cutting-edge AI solutions in large healthcare enterprises. Previously, he led product integration and development teams at GE and Oracle.

He studied machine learning in his MS at Columbia University and worked alongside industry and academia on computer vision technologies for autonomous vehicles and other automatic AR, 3D mapping applications.

Ashanideepta Bhattacharya, MS | Engineering: Deep is a Certified Ethical Hacker and a Cybersecurity Master’s graduate from New York University who has prior experience in penetration testing, incident response, technical investigations, business continuity, and disaster recovery.

Co-founder and Chief Information Security Officer — Deep Bhattacharya

As CISO, his mission includes creating a “risk aware” culture that places a high value on securing and protecting the information entrusted to Droice.

Alekandr Makarov, MS | Business development: He completed his masters in Data Science from Columbia University. Before joining Columbia for his Masters, Alex was the Head of Business Intelligence for FoodPanda HK, a Hong Kong-based part of a global mobile-based food delivery company.

He has also been heavily involved in several projects at IBM in Moscow around big data analytics and machine learning.

Dr. John Kahoun, MD | Clinical: He is a founding partner of one of the biggest urgent care chains in the United States (CityMD, acquired by Warburg Pincus for ~600 million USD). He received his medical degree from the University of Wisconsin School of Medicine and Public Health and has been in practice for more than 20 years.

Co-founder and Chief Medical Technology Officer — Dr. John Kahoun

He helps Droice understand hospital systems and provide clinical insights that allow for the packaging of the powerful underlying technology to a format suitable for the end-users.

Rourke M. Yeakley, MD | Head of Innovation: Dr. Rourke Yeakley is a Board Certified Emergency Medicine Physician for over 15 years and heads innovation at Droice Labs. He is the founder of Precision EM, dedicated to the development and application of precision medicine for emergency medical care.

Dr. Yeakley is affiliated with St Luke’s Boise Medical Center where he is the Medical Director, Air since 2007, and at St Luke’s Meridian Medical Center. Dr. Yeakley is also the inventor of Avepax medical device for single-dose delivery of liquid medications, vaccines, and Nutritionals that are mixed at the point of care.

Tadd Spering | Chief Business Officer: Tadd has held senior sales, management, and product development positions at HSBC and Catamaran, in addition to founding a web design company while earning his degree in International Business and Management at Dickinson College.

Tadd’s varied skills have helped him build a world-class team at Stylinity while also serving as CEO and lead hardware engineer. Tadd has been featured in Forbes and as a panelist at PricewaterhouseCoopers.

Droice Labs – Recognition and Achievements

The company has participated in multiple highly selective accelerators: Arkansas Healthtech, SAP.io Foundry, Philips Healthworks, NVIDIA Inception, IE Entrepreneurship Columbia, Almaworks, HITLAB Digital health breakthrough network.

It has also won following awards: Rice Business Plan Competition, StartUp Exchange, Issue #32, Lee Kuan Yew Global Business Plan, GoTech GoGlobal Grand Prize, Innovation Time Awards (Best New Project in Medicine and Healthcare, Columbia Venture Competition, CVC Technology Challenge, Frenchfounders, HFMA virtual pitch, etc.

Droice Labs – Future Plans

Over the next 5 years, Droice Labs target to expand even further and be the biggest tech-enabled clinical research organisation in the world affecting hundreds of millions of patient lives every year.

August 22, 2020

Tag: healthcare

Anvayaa – Company Highlights

Anvayaa – About and how it works

Anvayaa – USP and Innovation

Anvayaa – Target Market Size

Anvayaa – Founders and Team

Anvayaa – How did it start?

Anvayaa – Name, Tagline, and Logo

Anvayaa – Startup Launch

Anvayaa – User Acquisition

Anvayaa – Business Model and Revenue Model

Anvayaa – Startup Challenges

Anvayaa – Funding and Investors

Anvayaa – Competitors

Anvayaa – Advisors and Mentors

Anvayaa – Growth

Anvayaa – Awards and Recognition

Anvayaa – Future Plans

Frequently Asked Questions – FAQs

What is Anvayaa?

How much does Anvayaa charge?

Where is Anvayaa services available?

Possible

Ambee

Frequently Asked Questions

Who is Aishwarya Rai Bachchan?

What are the startups funded by Aishwarya Rai Bachchan?

What is the net worth of Aishwarya Rai Bachchan?

What are the popular movies Aiswarya Rai Bachchan?

Now&Me – Company Highlights

About Now&Me and How it Works

Now&Me – Target Market Size

Founders of Now&Me and team

How was Now&Me Started?

Now&Me – Name and Logo

Now&Me – Startup Launch

Now&Me – Startup Challenges

Now&Me – Funding and Investors

Now&Me – Revenue Model

Now&Me – Growth

Now&Me – Future Plans

Docttocare – Company Highlights

About Docttocare and How it Works

Global Appointment Scheduling Software Market

Docttocare Founder, CEO and Team

Docttocare – Name and Logo

Docttocare – USP and Innovation

Docttocare – Revenue Model

Docttocare – Funding and Investors

Docttocare – User Acquisition

Docttocare – Startup Challenges

Docttocare – Advisors and Mentors

Docttocare – Growth

Docttocare – Future Plans

McKesson – Company Highlights

McKesson – About and How it Works?

McKesson – Logo and its Meaning

McKesson – Founder and History

McKesson – Mission

McKesson – Business Model

McKesson – Revenue and Growth

McKesson – Investments

McKesson – Acquisitions

McKesson – Competitors

McKesson – Challenges Faced

McKesson – Future Plans

Abbott – Company Highlights

Abbott – About and How it works?

Abbott – Logo and its meaning

Abbott – Founder and History

Abbott – Mission

Abbott – Business Model

Abbott – Revenue and Growth

Abbott – Funding and Investors

Abbott – Investments

Abbott – Acquisitions

Abbott – Competitors

Abbott – Challenges Faced

Abbott – Future Plans

Philips – Company Highlights