Human Life Management (HLM) Acquires 100% Stakes in Care24
In an all cash deal, HLM and Care24 will work in tandem to deepen the medical service offerings in India
New Delhi: Care24, a leading home healthcare platform operating in Mumbai and Delhi, today announced that it has been acquired by Human Life Management(HLM), a leading Japanese home medical support corporation. HLM, led by Yoshiki Sasaki, which has been a prime investor in Care24 from past 2 years and holds multiple businesses in healthcare and other sectors. Care24 will extend its robust service delivery and agile technology platform for HLM and will cater to the evolving healthcare needs of the customers.
Post the acquisition, HLM and Care24 will closely work together to scale and strengthen medical service offerings in India and additionally expand to other southeast countries like Thailand, Vietnam, Indonesia using Yushoukai’s deep medical expertise and Care24’s superior software development and technology capabilities. HLM will also play a pivotal role in launching new medical offerings for Care24 in Indian market, like end of life care, critical care at home, family doctor subscription service, doctor on call, implementation of care plan and Training of doctors along with training materials. While Care24 will expand its service offerings across multiple states in India, HLM and Care24 will begin operations internationally under the label of “Care24 international “, in aforesaid countries through a JV with a local medical service provider.
On this acquisition, Vipin Pathak, Founder and CEO, Care24 said, “We are excited and highly enthusiastic with this new acquisition deal. Our team has been working with HLM team for past 2 years and we could feel the synergy and compatibility in the thought process of both the teams. Yoshiki-San is a visionary leader and has long term vision about future of healthcare. His ambitious and aggressive plans around growth are highly encouraging and empowering for us. We aim to bridge the gaps of Global Medical expertise, best practices, capital and network in Japan, south-east Asia with HLM and Care24’s existing capabilities. All our investors are also excited and pleased with this acquisitionand strongly believe that HLM is the right long term partner for us. Together, we envision an accelerated growth for company and plan to change the course of healthcare in India as well as globally.”
HLM has been closely involved with Care24, for multiple projects across India and south-east and Africa, to make healthcare readily available at home. Human life management is part of SIPS groups which runs Home Medical Care in Japan providing critical care to 6000+ families through it’s partnered Yushoukai Medical Corporation.
Yoshiki Sasaki, CEO of HLM, said on the occasion, “HLM was highly captivated by Care24’s strong delivery record of facilitating care at home to more than 1000+ families daily, between Mumbai and Delhi and thereby instituted an all cash acquisition.The amalgamation of HLM’s extensive medical expertise like care plan, understanding of end of life customer lifecycle managementofferings and Care24’s sophisticated technology platform whichalgorithmically matches providers and seekers in realtime for home healthcare, will globally revolutionise and instil the much needed quality care.”
All earlier investors Elevation, IQ, DI, Start-up Health have received cash exit through this deal and all existing investors stands contented and aligned on the deal.