Photo - Medical Tourism
22973

Medical Tourism

India, Maharashtra
Market: Another
Stage of the project: Operating business

Date of last change: 11/03/2017
Min investment
$  100.000
0
Total required
$ 300.000
Rating
equalizer 216 из 1000
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Idea

Get Well in India is a medical tourism company which involves in providing quality medical care facilities to patients globally at affordable rates. Our Key Focus markets are : Kenya, Bangladesh, Zimbabwe, Liberia, Ghana, Ethiopia and Myanmar. We provide complete client satisfaction through cost savings by offering discounted medicines and logistics, complimentary services like airport transfers, local sim card, city tour, domestic travel.

Current Status

We have so far assisted 20 patients from Africa and Asia. In turn, we have provided business worth USD 200k to the hospitals resulting in net revenues of USD 40k to us.

Market

Medical tourism industry in India has grown at an average rate of 20% CAGR over last decade and currently is worth USD 3bn. It is expected to grow to USD 8bn by 2020. Our patients are from different countries across the world and have varied demographic.

Problem or Opportunity

Quality and affordable healthcare facilities are not available in African and Asian countries. As a result they prefer to come to India which offers best of treatment at affordable costs. Secondly, they are not able to receive the right guidance about the doctors and the hospitals.

Solution (product or service)

We provide customised and personalised services to our patients. We have tie up with top-tier hospitals across India giving the patients different options based on their preference and budget. We help them save costs through discounted medicines, accommodation etc. We provide lot of complimentary assistance like sim card, city tour, airport transfers and domestic transfers.

Competitors

Medical tourism industry is a highly fragments and unregulated industry. As a result there are many small players. There is no big player who is even holding 1% of the total market. Our main competitors are Vaidam, Plan my medical trip, HBG and Agile health.

Advantages or differentiators

Exclusive agreement with Wockhardt Hospital for Myanmar market. We provide customised and personalised services to our patients. Cost savings for patients through discounted medicines and logistics.

Finance

We are currently assisting 1 patient per month on average. Average business to hospital is around USD 7500 per patient resulting in our revenue of USD 1500 per patient. With the right contacts we have developed in our target markets like Kenya, Zimbabwe, Liberia, Bangladesh and Myanmar and the extensive marketing plan in place we expect to reach 100 patients per month in 4 years time. In turn, we will become one of the top players in the market.

Business model

We have a tie-up with the top tier hospitals across India and receive referral fee of 20-25% from different hospitals. We have added another revenue stream this year by exporting medicines to few hospitals in Kenya. We are also getting into healthcare technology and skill transfer facilities.

Money will be spent on

Newspaper/ Radio Ads
Facebook marketing
Medical Marketing (CME+OPD)
Business trips
Meet and Greet with insurance and corporates
Foreign office expenses
Indian staff expenses
Digitalisation

Offer for investor

We are ready to offer upto 15% stake in our venture

Risks

Unregulated market
Increased competition
Development in medical facilities in target countries earlier than expected

Incubation/Acceleration programs accomplishment

None

Won the competition and other awards

None
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video