May 26, 2011
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Source : Deal Curry News Update dt 26th May 2011
Mumbai-based Jeevanti Healthcare Pvt Ltd is raising $2.2 million from Seedfund in its its first round of funding.
Jeevanti Healthcare was set up by entrepreneurs Arun Diaz and Deepa Chandrashekhar, who are looking to start small-scale or secondary hospitals in Tier II and Tier III cities in Maharashtra and Gujarat. The entrepreneurs are currently running the Apollo Clinic (a franchisee of the premier Apollo Group) in Thane, Mumbai. Through Jeevanti, they now aim to provide quality medical facilities in under-served areas.
Interestingly, Seedfund has a similar investment – Vaatsalya Healthcare – which also caters to rural healthcare.
Seedfund mostly targets companies operating in segments like the Internet, mobile, retail, consumer media and technology. It provides funding for seed-stage capital requirements and its investment size ranges from $0.22 million to $1.1 million.
Incidentally, the healthcare segment has increasingly witnessed private equity investments in the current year. Intel Capital India Technology Fund entered into a definitive agreement to invest an undisclosed amount in Jodhpur-based Sudhir Srivastava Advanced Robotics Surgery Center Pvt Ltd. The company provides advanced robotic surgery procedures for surgical specialties. Also, Spring Healthcare Fund, managed by Sabre Partners India, invested $11.18 million in New Delhi-based Super Religare Laboratories Ltd in a pre-IPO investment. Super Religare Labs operates a pathology laboratory network across the country.