Pediatric healthcare chain Addresshealth raise funding from Unitus Seed Fund
Unitus Seed Fund has invested in AddressHealth, India’s first pediatric primary healthcare network, providing comprehensive care for children through its chain of clinics and school health programs. Unitus Seed Fund is India’s most active seed-stage impact investor.
AddressHealth will use the investment to further expand its reach through partnerships with schools and engagement with parents in Bangalore and to prepare for rapid expansion into other Indian cities.
AddressHealth was founded by doctor entrepreneurs Dr. Anand Lakshman and Anoop Radhakrishnan, with a vision to ensure that every child attains a state of positive health. Dr. Anand Lakshman has significant experience leading public health programs that reached more than 1.14 crore (114 million) children. Dr. Anoop Radhakrishnan has been involved with setting up 2 startups soon after his MBA from IIM – Lucknow. The goal of the founders is to address the health of at least a million children (10 lakhs) children by 2018.
It currently operates three clinics in Bangalore that provide one-stop-shop pediatric primary healthcare services under its own brand. As of May 2014, it’s serving more than 28,000 children through its clinics and school programs.
India is a young country with children up to 12 years of age making up 27% of its population. This young generation is growing up in nuclear families, with little or no support, facing newer health challenges such as chronic diseases, obesity, and mental health issues. There is no single branded provider of pediatric primary healthcare that covers all common health needs of children, including treatment of illnesses, vaccinations, dental hygiene and care, vision services, nutrition, and mental health services.
Schools are mandated by the government as well as their affiliated education boards to invest in the health of its children including annual health checks and health and life skills education. The government health departments are unable to deliver these preventive health services to private schools including those catering to low-income groups.
It currently operates a chain of one-stop-shop pediatric clinics that provide core pediatric medical services along with dental, vision, nutrition, and mental health services. These clinics also reach out to schools and preschools in their neighbourhood offering health programs including screening, health education, nutrition and environment audits, mental health and counseling services which currently cover more than 28,000 children.
Dr. Anand Lakshman, CEO of AddressHealth added
We are very pleased to have the support of Unitus Seed Fund as an investor in our vision to bring a new type of quality, integrated pediatric care to broad populations in India’s metros. Our approach of partnering with schools to provide basic health services to every student allows us to build long-term relationships with the children and their families supporting a culture of preventative healthy living.
Excited about the investment, Dave Richards, Managing Partner, Unitus Seed Fund shared,
We were excited by the size of the opportunity and the possibility of creating India’s 1st pediatric primary healthcare brand. Our investment will help AddressHealth in refining its business model by increasing engagement with parents and schools and testing innovative pediatric service delivery models through schools.
Unitus Seed Fund plans to grow its portfolio of 13 companies to at least 30 startups in sectors including skill development / livelihoods, agriculture, technology for development, healthcare, education, and access to basic necessities.