Temasek-backed impact investor ABC invests US$15m in Indian home healthcare provider

ABC World Asia, an impact private equity (PE) fund backed by Temasek, has made a US$15 million equity investment in the Series B round of an out-of-hospital care provider, Healthcare at Home India (HCAH).

Founded in 2012, HCAH provides professional healthcare services to patients in their homes across India. This includes home ICU, long-term nursing care and Covid-related care. HCAH also partners pharma companies to offer chronic disease screening programmes and patient-support services for disease management.

The company has over 500 employees and served more than 600,000 patients last year. It is backed by the Burman family, founders of the consumer goods conglomerate Dabur.

Investing in HCAH meets the United Nations Sustainable Development Goal of universal health coverage through better access to care, ABC said in a statement on Thursday.

The PE firm's investments are centred on promoting an "Active economy, Beautiful society and a Clean earth". Besides Temasek, other investors in its inaugural S$405 million fund include Temasek Trust, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries and Singapore Power.

Sugandhi Matta, chief impact officer at ABC, said: "By providing high-quality out-of-hospital care at home, HCAH contributes to improving the quality and access of health services for patients by ensuring the continuum of care while easing the burden on the existing healthcare system."

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The pandemic has surfaced the need to complement the hospital-centric healthcare model with convenient and clinically-focused care at home, Matta added.

HCAH will use the funding to open 1,000 to 1,500 beds in transition care and long-term care for physical rehabilitation and recovery, said co-founder and chief executive Vivek Srivastava. The company will also invest in data capabilities and develop products in chronic disease management.

"We are delighted to have ABC on board as their impact focus closely aligns with our objective of creating social impact by increasing affordability and access to healthcare," said Srivastava.

Gaurav Burman, managing partner of Burman Family Holdings, said that he looks forward to benefiting from the expertise and guidance of ABC.

This is ABC's second investment in the healthcare. The firm last year invested in Kim Dental, a dental care provider in Vietnam that is improving access to quality oral healthcare.