A leading digital healthcare platform, RaphaCure is eyeing exponential revenue growth with revenue of around Rs 100 crore in the coming quarters following its tie-up with Madhavbaug.
Vaidya Sane Ayurved Laboratories Ltd – popularly known as “Madhavbaug” – is one of the largest Ayurvedic cardiac care clinic chains in India, with a network of over 270 clinics and two hospitals. With over a decade and a half of heritage, Madhavbaug has a current patient base of over twenty-five lakh across seven states and was recently listed on Indian stock exchanges (NSE: MADHAVBAUG)
RaphaCure entered into a strategic collaboration with Madhavbaug in July 2022. Through this partnership, as Madhavbaug is currently increasing its reach and range of preventive healthcare services in remote locations using RaphaCure’s technology platforms, RaphaCure has access to the premier patient base and is able to cross-sell and up-sell its many health and wellness offerings.
With such complementarity, patients in the most remote part of the country have access to affordable and quality healthcare offerings from Madhavbaug and RaphaCure.
Madhabaug is the market leader in preventative cardiac care with thousands of patients around the world benefiting from its traditional Ayurvedic treatment. It also provides treatment for diabetes reversal, blood pressure management, obesity management, and knee pain relief, among others. Similarly, RaphaCure is one of the leading diagnostic service brands in India, besides being a big player in the field of corporate wellness. It provides a wide range of services which include mental wellness, women’s care, senior health care, immunization services, internet pharmacy, dental care, eye care, blood bank services , genome health, health risk assessment, employee assistance program, among others. The availability of such an array of services from the stables of Madhavbaug and RaphaCure on both physical and digital modes drives patients for faster and better adoption.
As the synergy plays out on a large scale, ‘Rapha Clinic’ – RaphaCure’s treatment center – is poised to achieve a monthly turnover of Rs 1 lakh per center over the next few months. The health tech startup has already planned to grow its user base 20x with 200% revenue growth in the near term.
Commenting on future growth prospects, RaphaCure Founder and CEO Jeyakumar said, “Our strategic partnership with Madhavbaug is a watershed moment in RaphaCure’s growth story in which customers are the real winners with greater access fast to a multitude of health care solutions at an affordable cost. . It is important to note that the availability of treatments in a hybrid way – combining both physical consultations and e-health – has become the popular choice among patients. RaphaCure’s platforms leverage several state-of-the-art technology applications to make user experience a delight across 276 diagnostic centers in Madhavbaug. With growing adoption, we are confident of achieving revenue of Rs 100 crore in the near future on an entity basis.
“RaphaCure is committed to better serving patients with several new technology applications in the coming months. As we grow, we will continue to invest in technology to make diagnosis and treatment more affordable,” he added.
RaphaCure recently launched its mobile app to provide best-in-class user experience to its enterprise customers. With this launch, corporate customers can now search, connect and book RaphaCure’s multiple corporate health and wellness packages from their mobile devices.
