Online Healthcare Store Healthkart.com Plans To Raise $10 Mn
Bright Lifecare Pvt Ltd, running health store Healthkart.com, plans to raise $10 Mn, second round funding.
The Recapitalization will go into expanding its portfolio and developing an online magazine.
Recently launched Healthkart has raised more than $1 Mn jointly from early stage seed fund Kae Capital and Sequoia Capital for startup expenses.
Transaction Reference: Livemint
Healthkart is an online consumer wellness store. Starting with diabetes, home medical and baby products, they are now expanding into areas of elderly care, nutrition, personal care, chronic care, vision care and skin care.
Something similar is HDFC's PE investee MediAngels run by Angel Health Pvt Ltd, which provides online consultation from a large pool of medical experts and specialty doctors. HDFC invested Rs.2.5 Cr for 12% stake.
According to ICRA Management Consulting Services Limited's report 'Indian Diagnostics Services Industry, January 2011':
- The Indian healthcare industry was valued at Rs.1,645 billion in 2009:
1. Healthcare services (59.5%) which includes Healthcare Delivery (42.8%), Pharmacy Retail (13.1%), Diagnostics (3.6%).
2. Pharmaceutical (32.3%) and;
3. Medical equipment and supplies (8.2%)
- By 2015 the healthcare sector is expected to grow to Rs.7,940 billion at a CAGR of 30%.
- Per capita healthcare spending in India in 2009 and 2010 was Rs.2,400 and Rs.2,900, respectively. Estimates that the figure would be approximately Rs.9,334 by 2015.
According to Internet and Mobile Association of India (IAMAI) report, the e-commerce is expected to cross Rs.46,000 crore mark in 2011.
Report on Online Commerce March 2011 - By IAMAI
Figures in Rs. Cr. and % indicate share of the overall market size.
| Year | 2007 | 2008 | 2009 | 2010 | 2011* |
| Total Market Size | 8,146 | 14,030 | 19,688 | 31,598 | 46,520 |
| Online Travel industry | 6,250 (77%) | 10,500 (75%) | 14,953 (76%) | 25,258 (80%) | 37,890 (81%) |
| Online Non-Travel Industry | 1,896 (23%) | 3,530 (25%) | 4,735 (24%) | 6,340 (20%) | 8,630 (19%) |
| : etailing | 978 | 1,120 | 1,550 | 2,050 | 2,700 |
| : Digital Downloads or Paid Content Subscription | 238 | 290 | 435 | 680 | 1,100 |
| : Financial Services | 1,200 | 1,540 | 2,000 | 2,680 | |
| : Other Online Services (incl. Online Classifieds) | 680 | 920 | 1,210 | 1,610 | 2,150 |
* - Estimate
A number of e-commerce companies selling electronic items, lifestyle products and books have come up in teh past 2 years and have also seen PE/VC activity in the space, but healthcare is yet to tap the online market optimally.
Kae Capital was launched early this year by Mumbai Angels founder Sasha Mirchandani for very early stage deals.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 12/08/11 | Bright Lifecare (Healthkart.com) - Fund Raising | Private Equity | Looking For | 9.73 |
| 01/01/11 | Healthkart - Omidyar Network | Private Equity | Omidyar Network | 7.50 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 18/05/12 | Private Equity | National Skill Development Corporation | Apollo Med Skills Limited | 0.67 | Completed |
| 16/05/12 | M&A | Piramal Healthcare Limited | Decision Resources Group | 635.00 | Completed |
| 14/05/12 | Private Equity | Equity Partners Fund SPC India | Avesthagen Limited | 60.00 | Planned |
| 14/05/12 | Private Equity | India Value Fund Advisors Private Limited | Manipal Hospitals | 93.28 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Bright Lifecare Private Limited | E-1, Bandhu Vihar Apartments, Plot-11, Sector 10, Dwarka | www.healthkart.com | ||
| Dealforwards |  |
| May 16, 2012... | Piramal Healthcare Acquires Decision Resources Group |
|
| May 17, 2012... | Car Rental Firm Carzonrent Acquires QCABS |
|
| May 21, 2012... | Healthkart Acquires Health Nutrition E-store Madeinhealth.com |
|
| May 18, 2012... | Panchshil Realty Buys Back IREO, Merrill Lynch's Stake In Three Projects |
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| May 15, 2012... | A Profitable Injection Mould Design & Mfg Co Looking For A Strategic Investor |
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