Apollo Hospitals in partnership with IBM is planning to launch an investment fund with a total corpus between $50 million and $100 million to fund the healthcare startups across the country. The private chain of hospitals has also signed a Memorandum of Understanding (MoU) with IBM.
Apollo Hospitals plans to work as an accelerator, which will provide an investment of $5 million at first and then later bolster another $10 million, according to Financial Express.
The fund also aims to develop onco-diagnostics system in the country. It will also help the emergence and growth of healthcare startups across the country.
Apollo Hospitals, which claims to have introduced first robotic surgery in India, also plans to work with IBM Watson Healthcare in the artificial intelligence space.
The healthcare firm is also teaming up with other companies to share intellectual property rights (IPR).
Besides Apollo, many other venture firms are also interested in investing in the healthcare space in India.
Silicon Valley-headquartered investment firm, Bessemer Venture Partners (BVP) is also eyeing to invest $40-50 million in Indian healthcare startups this year.
In Jule last year, healthcare-focused venture capital firm Healthquad closed Rs 75 crore to invest in thematic and disruptive healthcare business models in India.
The Fund aimed to invest around Rs 400 crore in healthcare companies that have the potential to disrupt the healthcare landscape by dramatically improving the productivity, affordability and accessibility of healthcare through differentiated and innovative solutions.
The total Indian healthcare sector is valued at over Rs 7 trillion and is growing at a rate of over 15 per cent per annum making it one of the most attractive sectors for investment by the private sector.
An imperative part of all this is the new age models that are unshackling the traditional forms of healthcare delivery and products including digitization of services and product innovation and disinter-mediation of delivery models. All these are being driven by the need to provide access, affordability and quality.