PlanMyMedicalTrip, an online platform that offers international patients access to medical care in India and Turkey at competitive prices, has received Rs 1.25 crore (around $187,000) in angel funding from three investors.
The three investors are Bhanu Vikram Parsotam, Rohan Desai and Paras Patel. Parsotam has been involved with Pensacola Home Health Care for 20 years and has previously funded hotels and motels in the USA. Desai is involved in stock trading while Patel is a real estate investor.
The startup, which was founded by Anurav Rane in 2012, will use the funds to strengthen its presence, boost the digital experience of customers and venture into newer geographies, it said in a statement. The company is planning to expand its reach to Thailand, UAE, Brazil and Germany.
Pune-based Plan My Medical Trip Pvt Ltd, which runs the platform, currently has tie-ups with over 1,500 hospitals and doctors in India and Turkey to provide medical services to international patients. The platform helps patients to compare doctors and hospitals, read reviews, receive end-to-end guidance on the treatment, travel and stay.
“ I am familiar with patient requirements here and strongly believe that PlanMyMedicalTrip.com is doing the right thing at the right time,†said Parsotam.
Rane, who has a post-graduate diploma in marketing management from Symbiosis Institute of Business Management, earlier was a partner at Dziner Holidays, a curator for theme-based travel holidays across India and abroad.
PlanMyMedicalTrip aims to capture 15 per cent of India's medical tourism market that is expected to reach $8 billion by 2020. It also targets to facilitate patients’ stay in exotic destinations to aid their recovery process.
According to a report by Grant Thornton, the Indian medical tourism market is currently valued at $3 billion. Chennai, Mumbai, Andhra Pradesh and the National Capital Region are the most favoured medical tourism destinations in India.
Another player in the sector is Mumbai-based TransEarth Healthcare Services, a Mumbai-based medical tourism company which operates under the TransEarth Medical banner.