Japanese home medical support company Human Life Management (HLM) on Thursday said it has acquired home healthcare platform Care24 for an undisclosed all-cash deal.
HLM, which has been backing Care24 for the past two years, claims to hold multiple businesses across healthcare and other sectors.
Post the buyout, HLM and Care24 will jointly work to scale and boost medical service offerings in India and expand operations to Thailand, Vietnam and Indonesia.
The Japanese platform plans to roll out additional medical services for Care24 in India, including end-of-life care, critical care at home, family doctor subscription service, doctor on call, care plan execution, and doctor training, as well as training materials.
While Care24 eyes its operations expansion across several Indian states, HLM and Care24, on the other hand, will jointly launch overseas services under the Care24 international brand.
HLM claimed to have worked closely with Care24 on several projects in India, the Middle East, and Africa.
The Human Life Management is a part of the SIPS group, which runs Home Medical Care in Japan, where it provides critical care to over 6000 families through its partner Yushoukai Medical Corporation.
“We aim to bridge the gaps of Global Medical expertise, best practices, capital and network in Japan, Southeast Asia with HLM and Care24’s existing capabilities. All our investors are also excited and pleased with this acquisition and strongly believe that HLM is the right long term partner for us," Vipin Pathak, Founder and CEO, Care24 said.
Vipin Pathak and Garima Tripathi launched Care24, which provides professional care from qualified caregivers to assist patients to recover at home. It has offices in Mumbai and Delhi and has been in business since 2014.
Human Life Management was established in 2002. It offers medical services to the aged, including home medical care, lifestyle assistance and residential care. The firm is part of SIPs group.
Yoshiki Sasaki, CEO of HLM, said “HLM was highly captivated by Care24’s strong delivery record of facilitating care at home to more than over 1000 families daily, between Mumbai and Delhi and thereby instituted an all-cash acquisition.”