Visit Health raises $30 Mn in primary and secondary transaction

Telehealth and wellness platform Visit Health has raised Rs 250 crore ($30 million) in a combination of primary and secondary purchase of stake in the company held by Docprime Technologies, the current promoters and employees.

Visit Health will use the funds to expand its business which involves a strategic partnership with health and wellness platform TatvaCare, the company said in a press release.

In October 2021, DocPrime invested around $7.5 million in Visit Health. The New Delhi-based company had also scooped up $1.4 million in seed round from investors such as MapmyIndia, Snapdeal co-founders Kunal Bahl and Rohit Bansal, and Hetero Drugs Director Murali Krishna.

In May, PB Fintech said that it will divest 29% of its holdings in Visit Health, which will be valued at Rs 76 crore ($9 million). The firm also added that it will make a divestment of Rs 2 crore in Visit Internet.

Eight-year-old Visit Health offers customized wellness & OPD programs for SMEs and corporates’ employees and their families. It claims to serve more than 400 companies through its network of hospitals.

Startup data intelligence platform TheKredible shows that DocPrime controlled 14.4% stake in Visit Health as of Series A round.

For the fiscal year ending in March 2023 (FY23), Visit Health registered nearly three-fold jump in its revenue to Rs 53 crore from Rs 17.55 crore in FY22. The company managed to keep its losses below Rs 1 crore in FY23. It is yet to file FY24 numbers.

On Tuesday, PB Fintech released its quarterly results. The company’s revenue slipped to Rs 1,010 crore in Q1 FY25 as compared to Rs 1,090 crore during the quarter ended March 2024. Despite the decline in scale, it managed to maintain steady profits, which stood at Rs 60 crore in Q1 FY25.

Update: The headline and story have been updated to add correct information from Visit Health's press release.