Vera Smart Healthcare to invest $20 million

Hyderabad-based company plans to launch 20 new healthcare services and eyes $100 million revenues by 2021

Hyderabad: Hyderabad-headquartered Vera Smart Healthcare, has announced fresh expansion plans by investing another $20 million (about Rs 150 crore) to add over 20 new healthcare services under “V-Cube” over the next six months across India. To fund the expansion plans, Vera has garnered the backing of angels and US investors.

The company plans to roll out remote health services for home-based tests & diagnostics, virtual doctor care, medication delivery and nutrition consultation. Further, it has partnered with specialty hospitals and has already acquired 1,500 beds to offer unrestricted subsidised hospitalisation to its subscribers. For the underprivileged, Vera will offer an installment payment facility system to settle the treatment bills, a first-of-its kind service in the industry.

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Vera will also add 100 new smart Covid cum non-Covid ambulances to its fleet for medical emergencies. New services consist of free ambulance services in partnership with hospitals and iMASQ (intelligent monitoring analysis service quarantine) services to offer regular non-Covid tests to citizens.

Dharma Teja Nukarapu, founder & CEO, Vera Smart Healthcare said, “Owing to the unprecedented demand for our mobility & virtual health-care services, we are investing another $20 million to add 20 plus new services for our subscribers. This strategy will propel our growth in health tourism for international patients, urban crowds and more importantly provide underserved regions access to our exclusive services.”

“Besides mobility services, we will roll-out home diagnostics, doctor, nurses and nutritionists’ consultation on call. Plans are underway to expand iMASQ services, offer no-cost ambulances for the needy, and subsidised services across healthcare in partnership with hospitals,” he added.

The addition of fleet will be inducted in a phased manner, with a target to roll out all ambulances by 2021, aiming at a revenue of $100 million (about Rs 745 crore), and expand its services to more Indian cities in the next one year. Vera currently has a fleet of over 150 vehicles including proprietary iMASQ buses, which are equipped with life support systems and emergency ventilator care support systems.

During the pandemic, Vera transported thousands of patients and attended more than 1,500 calls per day. Recently, the company touched 1.5 million Covid samples collection in Telugu States alone.

Vera, which has offices in Hyderabad and a technology back-end office in the US, had earlier helped generate comprehensive health profiles of more than 50,000 people across the south, including Telangana.

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