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MediBuddy approaches EBITDA neutrality, advances goal of universal healthcare access
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Closing the previous fiscal year (FY 23-24) with break-even results and a marginal loss, the company has strengthen its position as India’s fastest-growing digital healthcare entity.
MediBuddy, a premier digital healthcare platform, has announced significant progress towards EBITDA neutrality, marking a milestone in its journey towards financial sustainability. Closing the previous fiscal year (FY 23-24) with break-even results and a marginal loss, the company has strengthened its position as India’s fastest-growing digital healthcare entity.
With a user base growing by 2.4X over the past three years, MediBuddy now serves close to 3 crore Indians, including over 1 crore subscribers. To further augment its offerings and expand its reach, the company is actively exploring mergers and acquisitions in critical healthcare domains such as chronic disease management, mental health, diabetes, women’s care, and weight management.
Backed by an $18 million capital pool earmarked for these investments, MediBuddy aims to bolster its presence in key healthcare sectors.
Satish Kannan, Co-founder and CEO of MediBuddy, reiterated the company’s commitment to customer-centric, technology-driven solutions that empower both healthcare providers and patients.
“MediBuddy is leading a healthcare revolution in India by prioritising customer-centric, technology-driven solutions. We empower doctors through our platform, offering accessible care via video consultations, hospital visits, clinics, pharmacy deliveries, and diagnostic services. By leveraging technology, MediBuddy’s platform enhances doctor-patient interactions. This commitment to innovation is fueling our remarkable growth and expanding healthcare access nationwide,” he said.
MediBuddy’s strategic acquisition of vHealth in 2023 has significantly expanded its footprint, particularly in tier two and tier three cities, broadening its ability to cater to diverse customer segments. With a robust network comprising over 90,000 doctors across 22+ specialties, 7,100+ hospitals and clinics, 5,000+ diagnostic centers, and 2,500+ pharmacies, MediBuddy stands as a comprehensive healthcare solution provider.
Furthermore, the platform has onboarded over 10,000 hospitals and diagnostic centers to bolster its diagnostic capabilities, reinforcing its commitment to offering top-notch healthcare services.
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