Intellecap today announced that it has facilitated an investment of INR 250 million from Norwest Venture Partners in Nationwide Primary Healthcare Services, a pioneering chain of general practitioner and pediatric clinics backed by US based angels.
The Company, founded by eminent U.K trained doctors - Dr Santanu Chattopadhyay and Dr Shantanu Rahman, aims to revive the age-old concept of 'family doctors' in India. The Company's primary care clinics focus on bridging the gap between fragmented general practitioner services and highly expensive super-specialist hospital care by creating a single-point of medical care for their patients' everyday healthcare needs. NationWide's doctors provide personalised GP and paediatric care to individuals, families, and corporate groups in the community. Their prime focus is on proactive management of every day ailments and effectively managing chronic conditions. The Company plans to open 1500 clinics across India over the next 5 years, revolutionising primary healthcare in the country.
"With support from Norwest Venture Partners, we have now moved forward in creating a strong base for providing quality and affordable primary care through innovative services that treats patients as customers" said Dr. Santanu Chattopadhyay - Founder and Managing Director.
Mohan Kumar, Executive Director - Norwest Venture Partners India has joined the board of NationWide. He said "We are delighted to partner with Dr. Santanu and his team. We believe that there is a huge need for quality primary care services in India. We are confident that NationWide with its unique business model complemented with a high quality team will be a leader in this segment."
Intellecap was the sole advisor for this transaction. Prachi Mathur, Head-Healthcare Investment Banking Services said "Intellecap is committed to fostering the growth of healthcare enterprises that will provide quality services to the community. We are extremely pleased that we had the opportunity to function as the trusted advisors of Dr Santanu and his team. We are confident that with support from Norwest, NationWide will be able to bring significant changes in the way primary healthcare is delivered in India."
About NationWide Doctors:
NationWide Primary Healthcare Services Private Limited is an initiative of a team of Indian doctors, who have returned to India after having worked with the National Health Service ("NHS") in the United Kingdom, for over 10 years. Their vision is to bring back the best practices in Primary Healthcare to India and to provide world class primary healthcare solutions and health plans. For more information visit www.nationwidedocs.org
Intellecap is a pioneer in providing innovative business solutions that help build and scale profitable and sustainable enterprises dedicated to social and environmental change. We provide a broad range of investment banking, consulting and knowledge services to clients around the world. Founded in 2002, we have worked with more than 60 clients on over 250 engagements across 15 countries. The investment banking services has, till date, facilitated over INR 1000 crores of investments across its focus sectors of healthcare, financial inclusion, education, clean energy and rural & agricultural businesses. For more information visit www.intellecap.com
About Norwest Venture Partners (NVP):
Norwest Venture Partners (NVP) is a multi-stage investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages more than $3.7 billion in capital and has funded over 500 companies since inception. Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel and Hong Kong. NVP makes early to late stage venture and growth equity investments across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. For more information visit: www.nvp.com
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