Meena Ganesh, MD & CEO of Portea with Ashish Bhutada , founder CEO of Health Mantra
Portea Medical, the healthcare startup has acquired home medical equipment provider Health Mantra India for an undisclosed amount in cash and stock. This acquisition will help Protea expand into home healthcare areas such as sleep medicine, respiratory care, geriatric care and orthopaedics.
This is Portea’s third deal in five months. The company had picked up a majority stake in healthcare discovery firm PSTakeCare in January 2016 and acquired specialty drug distributor Medybiz Pharma Pvt Ltd in November 2015.
Bengaluru-based Health Mantra was started in 2009 by Ashish Bhutada and Anoop Kodoli. The startup consists of more than 30 people in its team. It is operational across five states – Karnataka, Kerala, Tamil Nadu, Andhra Pradesh/Telangana and Maharashtra. The company provides home healthcare equipment and services for patients with sleep apnea and respiratory disorders as well as also offers respiratory equipment to hospitals.
In September 2015, Portea had received Series B funding of $37.5 million from Accel Partners, IFC, Qualcomm Ventures and Ventureast. The company is also exploring other investments to expand its offerings.
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