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February 19, 2013

Deal Alert: Healthcare entrepreneurs launch incubator HealthStart

A team of healthcare entrepreneurs led by Pradeep Jaisingh has launched an incubator called HealthStart. The incubator will have a multi-city model and invest up to Rs.60 lakh for a 7-10% stake in the companies that it will take under its wing. The team includes Pradeep Jaisingh, the founder chairman of HealthStart, apart from Raj Airy, a former head of Baxter India, who co-founded a healthcare venture Wizzcare which offers personalized healthcare services at home. 

With another four founding members also on board, Healthstart aims to begin investing from an internal corpus in the first year. The incubator has received eight proposals within days of starting up underscoring a growing appetite for early stage funding in India. 

The HealthStart founding team also includes Vivek Jetley, CEO of Urbana Health, a Singapore-based business advisory service, Anil P Gupta, who earlier led Reliance Infrastructure and Honeywell International in India, and Suhail Chander, who leads IndusInd Bank's corporate and commercial banking business as well as Jayant Goel, a chartered accountant.

Source: Economic Times

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