He understood that healthcare is as much a necessity for those living in rural areas as for those in urban and created Vaatsalya.
Many gladly give up the slow paced, peaceful rural life for the hustle and bustle of urban life. The reason mostly is poor infrastructure; especially, the non-availability of proper healthcare facilities. However, the migrating population forms only a tiny part of the total rural population. In fact, 70 percent of India’s population lives in semi-urban and rural areas while ironically, majority of the health facilities are in the urban area.
Dr Ashwin Naik, Vaatsalya Healthcare
With the objective to address the healthcare needs of the deprived lot, in 2004, Dr. Ashwin Naik launched Vaatsalya Healthcare, a network of secondary care hospitals in Tier II and Tier III towns in India. Recognized and applauded for its unique model that has a significant social impact and is financially viable at the same time, Vaatsalya has grown manifolds since its inception. With eight hospitals in Karnataka and three in Andhra Pradesh, totaling to more than 750 beds, it is the largest hospital network of its kind in India.
For Dr. Naik, an MBBS from Karnatak Medical College and a postgraduate from University of Houston, Texas, the decision to create Vaatsalya came as a combination of personal needs and professional curiosity. “My parents have settled in a small town in Karnataka,” says Dr. Naik. The thought that they do not have access to decent healthcare facilities prompted him to take initiatives on improving the condition of healthcare facilities in rural areas. The other governing reason was the constant diaspora of doctors to cities, given the lack of enabling infrastructure or support in small towns required for practicing.
Considered as one of the hottest startups in India today, Vaatsalya with its unflinching focus on the core business of bringing “high touch” medical services to small towns has successfully carved a niche for itself in the market. It has also been able to establish its credibility in the line of hospital business amongst giants with the help of its dedicated workforce within a very short span of time. Dr. Naik says, “Vaatsalya is known for its unparallel focus on core values, which we call the SPIRIT of Vaatsalya. Each member of our team is focused on ensuring service, passion, integrity, responsibility, initiative, and teamwork (SPIRIT of Vaatsalya).”
However, the success of Vaatsalya lies in its very mantra to serve the majority. Dr. Naik proudly declares, “While all corporate hospitals are focusing on the urban and metro areas, Vaatsalya chose to focus on Tier II and Tier III towns, and despite all odds, was able to successfully demonstrate that a socially relevant and financially viable model can be created for healthcare in India.”
Vaatsalya with its dedicated workforce has been successful in establishing its credibility in the market within a short time. Dr. Naik says, “Vaatsalya is known for its unparalleled focus on the core values, which we call the SPIRIT of Vaatsalya. Each member of our team is focused on ensuring Service, Passion, Integrity, Responsibility, Initiative and Teamwork (SPIRIT of Vaatsalya).” Also by focusing on the core business of bringing “high touch” medical services to small towns, it has stood out from the crowd and has established a niche for itself.
|Name of the Founder: Dr Ashwin Naik
Co-founders : Dr Veerendra Hiremath, Rocky Philip, Dr V Renganathan, Bheemanna Ganti, Dr Kaggalagowdar
Education: MBBS (KMC, Hubli), MS (University of Houston, Texas)
Company: Vaatsalya Healthcare
Year of Inception: 2004
Products/ Services: Healthcare services in Tier II and Tier III towns
Key Clients: Middle and low income families
Motto : Safe, Secure, & Simple
Vision: To be the most respected hospital network in India
Topline: Not Available
Bottomline: Not Available
YoY Growth: +400%
Investors: Angel Investors (NRI Professionals), Aavishkaar, Seedfund, Oasis Capital
IPO: Not Public
Expansion Plans: To build a network of 50 hospitals in the next 4 years and cover Karnataka, Andhra Pradesh, and Maharashtra. This network will be able to service about 2 million middle and low income customers per year
Biggest Mistake: In the initial years of Vaatsalya, we focused on 2-3 different models of providing healthcare, ranging from daycare to 30 bed units. From a replicability and scalability point of view, it turned out be a challenge and eventually we had to rework on it and focus on one type of model that we could build deep expertise on. We have now put all our energies in this one model and are now replicating it across the country
|First hospital in Hubli - 2005
Second hospital in Gadag (with Neonatal Intensive Care - 2005
Investment by Aavishkaar Micro Venture Capital fund - 2006
Third hospital in Bijapur with Dialysis unit - 2008
Foray into South Karnataka with unit in Mandya - 2009
Addition of Mysore, Hassan, Shimoga, Gulbarga units - 2009-10
Foray into AP with Vizianagaram unit - 2010
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