India Home Healthcare, a provider of medical and non-medical home healthcare services, has tied with a $1 billion American Bayada Home Health Care, to expand its footprint nationally to tap growing business in Asia’s third biggest economy.
“Both non-medical and medical healthcare service business is growing rapidly in India and we are expanding our services by opening more branches across the country to tap business,” said V Thiyagarajan, co-founder and managing director at India Home Healthcare.
Bayada Home Health Care, 40-year-old firm, is entering India for the first time and outside the US, has bought 26 per cent stake in Chennai-based India Home Healthcare to tap India’s growing middle class demand for a range of home health services.
India Home Healthcare provides services for pulmonology, cardiology, neurological health, orthopaedics, tracheotomy and has served over 10,000 patients annually in over 10 centres in Chennai, Bangalore and Gujarat.
It has also added home care for children with special needs and palliative care for adults to its portfolio.
The Indian home healthcare market, comprising home-based medical devices and home services, is worth $2 billion and growing at 20 per cent annually, according to accounting firm PricewaterhouseCoopers (PwC).
“We want to tap this market by opening more branches and offering top quality services,” Thiyagarajan said. The company has opened its Pune branch recently and plans to initially recruits over 100 trained nurses. Besides Chennai, at present, it has branches in Bangalore, Hyderabad and Gujarat.