Patient Care Startup HexaHealth Raises $4.5 Mn Seed Fund

Patient Care Startup HexaHealth Raises $4.5 Mn From Omidyar Network, Others

SUMMARY

Founded in 2021 by former 1MG cofounders Vikas Khanna & Ankur Gigras, and Dr Aman Priya Khanna, the startup aims to address the information gap — right hospital, affordable surgeon, insurance paperwork — when a patient chooses to go for surgery and even post-surgery — follow up consultation

The funds will be utilised to build a network of hospitals and further build its digital platform

The seed round also saw participation from Chiratae, 3one4 Capital, and angel investors such as OYO’s Rohit Kapoor, ex-HealthKart’s Mohit Gupta, Narayana Health’s Viren Shetty, CloudNine’s Rohit MA and Merck India’s Rehan Khan

Gurugram-based HexaHealth, a platform that aims to digitise in-patient care for surgeries, has raised INR 33 Cr ($4.5 Mn) in a seed funding round led by Omidyar Network India and Chiratae ventures.

The round also saw participation from 3one4 Capital, and veteran healthcare professionals like Viren Shetty, Group COO, Narayana Health; Rohit MA, MD, CloudNine; Rehan Khan, MD, Merck India. Rohit Kapoor, CEO, OYO and Mohit Gupta, ex-Marketing Head, HealthKart also participated in this round.

The startup aims to build a network of hospitals across the country, bring in digital solutions for better patient care throughout the patient’s surgery life cycle, and expand its consumer base to address the information asymmetry.

“Once a patient has been recommended for surgery, they struggle with the next steps. Surgery is a stressful time for the patient when they need maximum support,” Gigras said. He further added that Hexa aims to become a digital partner for patients on every stage of their hospitalisation journey, and in the long term, address the needs as well.

According to the startup, 2 Cr+ surgeries are performed annually in India, yet the number of people trusting the healthcare system is decreasing due to a lack of information. HexaHealth aims to address the customer’s needs, by providing patients with consultation for surgeries.

“Technology can help augment the ability of healthcare providers manifold and the pandemic has accelerated adoption of technology across patients and providers. We want to utilize this momentum to ensure that the patients are well informed of all their choices,” said Chauhan adding that the education will result in less anxious patients.

According to a report, the hospital industry in India is forecasted to increase to INR 8.6 Tn (over $130 Bn) by FY22 from INR 4 Tn ($ 62 Bn) in FY17 at a CAGR of 16–17%. In-patient care currently contributes to an $80 Bn market that contributes to 60% of overall health expenditure and is expected to grow at a CAGR of 13%.