Vietnam’s Jio Health raises $20M Series B investment led by Heritas Capital

Jio Health, a Vietnam-based healthcare startup, announced Wednesday that it has completed a $20 million Series B investment led by Singapore-based healthcare investor Heritas Capital.

Other investors in the round include Fuchsia Venture Capital (corporate venture capital of Muang Thai Group Holdings), Kasikorn Bank Group, and existing investor Monk’s Hill Ventures, Jio Health said in a statement.

This fundraise represents the largest in the company’s history and will build on Jio Health’s aggressive growth, with plans to expand its Smart Clinics and omni-channel ecosystem across its primary market of Vietnam and pave the way for expansion into regional markets over the coming years.

“We’re excited to welcome a high-impact, high-conviction cohort of investors to join us on our mission to become the most consumer-centric healthcare company in Vietnam and across Southeast Asia. We plan to boldly invest into expanding our geographic footprint across Vietnam, enhancing our clinical and digital capabilities, and regionalizing the playbook for our ‘quality care, anytime, anywhere’ value proposition,” said Jio Health Founder and Chief Executive Officer Raghu Rai.

The Series B investment in Jio Health will extend its clinical service offering to more consumers and employers, support the launch of additional Smart Clinics in existing and new geographies, expand provider and clinical support teams, and further advance technology platform innovation.

“Jio Health is building a unique healthcare model with a blend of online and in-person service offerings to care for patients throughout their healthcare journey, from wellness to treatment and post-treatment recovery. We are pleased to support Jio Health in their mission to provide greater access to affordable quality healthcare solutions and managed care for all,” said Chik Wai Chiew, the Chief Executive Officer and Executive Director of Heritas Capital.

Jio Health’s vertically integrated consumer healthcare value chain enables it to provide quality, affordable care wherever consumers shop, work, live, and click. The uniqueness of its model is that access to care is part of a larger omni-channel strategy that integrates prevention, multi-specialty care management, and ancillary diagnostic and pharmacy benefits to deliver better healthcare outcomes.

“With the typical patient paying out of pocket for three minutes of care after a three hour wait, the consumer is getting left behind in the current healthcare system. Since our Series A investment in Jio Health, we have seen Raghu and his team enable caregivers with technology to revolutionize the care experience. Jio today is now offering the most customer-centric healthcare ecosystem in Vietnam. Its full-stack ecosystem is addressing all critical pain points head on and is steadily becoming the trusted brand for quality care at affordable costs for the masses,” said Justin Nguyen, Partner of Monk’s Hill Ventures.

Jio Health’s technology encompasses telemedicine, e-prescription fulfillment, digital medical records, and machine-learning for clinical decision support. Beyond virtual care, the offline matrix of Jio Health’s ecosystem consists of Smart Clinics, on-demand home care, and an extensive and growing network of 300+ Jio-branded neighborhood pharmacies.

“Our team of 300+ care providers, engineers, and operators have each encountered the unpredictable impact of COVID at front-line hospitals, across their communities, and within their families. Their personal experiences have further validated the importance of our vision and deepened our commitment to transforming the access and delivery of care for millions of people across Southeast Asia. Our Series B funding will substantially accelerate our growth and scale the reach, impact, and affordability of our consumer healthcare ecosystem,” said Raghu Rai.

Jio Health is a human-centered, technology-powered healthcare firm based in Ho Chi Minh City, Vietnam. Its online and offline care services are tightly integrated with its lab information systems, e-pharmacy, and clinical operating system thus enabling consumers to have a cohesive end-to-end healthcare journey that encompasses appointment booking, consultation, diagnostics, treatment, and home delivery of prescriptions.

The omni-channel form factor of Jio Health’s ecosystem uniquely positions it to provide consumers with affordable, high-quality healthcare wherever they work, shop, live and click. Its multi-specialty portfolio of care services provides consumers with a one-stop shop that spans over 14 specialties including pediatric care, chronic disease management, mental health, maternity care, and women’s health.

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