Greylock Partner has invested $4mn in HealthHiway, a services infrastructure startup that provides SaaS (i.e software as a service) solution for hospitals, clinics, Insurance providers, pharmacies and diagnostic centers to facilitate better interaction within the healthcare ecosystem.
Incubated by Apollo Hospitals group (owns 5% stake), HealthHiway is building a national health data network to provide the platform for large and small hospitals, clinics, insurers, TPAs (third-party administrators), doctors, diagnostic centres, pharmacies and patients and the company is targeting to get onboard 70% of healthcare providers in the country.
Product offerings from HealthHiway:
- ClinicConnect – enables easy patient registration and electronic maintenance of patient records for quick, remote access.
- ClaimsXchange – online claims processing system that allows the user to submit preauthorization and claims to TPA partners and keep a track of their feedback and responses.
- ImageConnect – a web-based solution that makes capturing and processing radio images such as X-rays, CTs and MRIs really quick and simple. These images can now be electronically shared with between specialists for diagnosis and inference.
Other healthcare investment in India:
- Aavishkaar India Invests in Swas Healthcare, Naturopathy clinics and hospitals
- Infant maternal care in India gets the attention of the Gates Foundation ($41mn Fund)
- Rural Healthcare Startup, Vaatsalya raises fund from Oasis and Seedfund
- Inventus Capital Invests $1mn in InstaHealth
- HealthCareMagic secures funding from Accel India
Recommended Read: Recession? Healthcare Industry in India grew 42% in Q1
It is an Apollo hospital company so a VC fund was not needed in first place.Ashvani is happy with this but he does not realize that he is just a salaried employee like anyone else. If Hiway was not an apollo company (Reddy sisters behind the business plan and operations), it was just another struggler and there’s nothing much for Ashvani to take credit for.