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BusinessVera Clinics firms up $119-mn worth orders in Telangana

Vera Clinics firms up $119-mn worth orders in Telangana

Published: 19th Oct 2021 2:42 pm

Hyderabad: Vera Clinics, the Hyderabad-based Vera Smart Healthcare arm, signed a definitive agreement with various medical institutes in Telangana to set up health access points at these medical institutes, including over 300 smart clinics, mobile units, door-to-door, smart health transport and multi & super speciality hospitals access, based on the health profiling.

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Of the $119 million (over Rs 890 crore) activity spread over five years, the first phase will see an investment of $15 million (about Rs 112 crore).

The company under the collaborative model will introduce technology into healthcare – from digitising the health with AI-powered virtual smart healthcare tools, backed by Mobile Wellness Hospital services in these medical institutes.

Announcing the deal, founder & CEO, Vera Clinics, Dharma Teja Nukarapu, said “The estimated valuation of the new deal is around $119 million and will be implemented over a period of two years, in the initial roll-out phase we are investing $15 million. These fresh orders add to our existing ongoing list of contracts.”

He added, “All these large hospitals will be backed by our technically trained healthcare staff, strategic clinics, mobile healthcare units, proprietary Artificial Intelligence technology and mobile applications. Our belief is that disruptive AI driven healthcare technology is the way forward for health care providers, medical institutions and door-to-door health care practitioners to connect better and faster to any rural patient to diagnose illnesses, fasten cure, and save lives.”

During the Covid pandemic, Vera Smart Healthcare introduced and operated a fleet of 220 buses in Telangana and Andhra Pradesh to undertake tests on behalf of the State Governments. It conducted 20 million tests in the Telugu States.

Currently, Vera clinics has a capacity of 1,000 hospital beds, 200 doctors and 500 nurses across the country.

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