Portea Medical

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The proposed investment consists of up to US$ 7 million in equity for a minority stake in Health Vista India Private Limited (“Portea Medical” or “Portea” or the “Company”) in order to finance the expansion of the Company’s home-based healthcare services business in India. Established in November 2013, Portea is a Bangalore based home-based healthcare services provider. Portea engages with individuals, hospitals, insurance companies and corporates to improve medical outcomes and reduce the burden on healthcare infrastructure by providing in-home care to post-operative, geriatric, chronic and neo-natal patients. Portea’s model reduces the burden on traditional health care facilities by providing accessible, affordable and quality care for patients across the country in the comfort of their homes. This has a positive impact on hospitals as beds can be utilized for more critical medical cases and procedures. Portea provides its home health care services through nursing aides, nurses, physiotherapists and doctors. It has already hired and trained over 1,800 service providers. The Company will continue to train and employ a large number of nursing aides, many of whom hail from the low income states of Uttar Pradesh, Bihar and Odisha. Portea is a regular employer from more than 30 National Skill Development Corporation (NSDC) empanelled skill building partners across India. The Company provides its services across 22 cities in India, of which over 60% are Tier 2/3 cities. It is currently active in 14 states including NCR, Gujarat, Haryana and the Low Income States of Uttar Pradesh, Rajasthan and Madhya Pradesh. It will utilize the investment from IFC to further grow and deepen its presence in these states. The project fits well with the World Bank Group’s Private Participation for Health in India initiative (PPHI) which aims to increase access to quality affordable healthcare.