In conjunction with the announcement of our third India healthcare seed funding investment in the past 100 days, we are announcing our intention to invest in another 3-4 healthcare startups in 2014. We are also pleased to announce that Dr. Michael J. Free OBE, Ph. D., a globally-recognized global health expert and 35-year technology leader at PATH, is joining Unitus Seed Fund as Special Advisor for Healthcare.
|Unitus Seed invests in Smile Merchants||Investing in Private Health Care for All in India|
Healthcare is a huge a growing sector in India
The nearly INR 60 lakh crore (USD 100 billion) healthcare sector in India is growing at an estimated 15% per year, with an estimated 80% of spending controlled by private individuals and primarily out of pocket, rather than government or insurance plans. Yet, the majority of this expenditure is occurring in the large metros and focused on the wealthiest 10-15% of the population. Healthcare is largely inaccessible to the 1 billion people living at the base of the economic pyramid in India due to affordability and proximity. Rural India pays even more for healthcare when you factor in the lost wages and travel costs to reach even a low-quality medical facility.