Ambit Pragma has invested $10 mn in Vidal Health to buy a significant minority stake
Bengaluru – Sept 27, 2016. RedNewswire/-
Bengaluru-based health and wellness solution provider Vidal Health has raised $10 mn in Series A funding round from Ambit Pragma. Their wellness programs to the corporate include health risk assessments, screening, nutrition counseling, stress counseling, tobacco cessation among others.
Ambit Pragma has invested in Vidal Health, a third party administrator to buy significant minority stake in the company.
Vidal Health will the use funds to expand its medical management and benefits administration services and strengthen its market presence in India and the United Arab Emirates.
Girish Rao, chairman and managing director, Vidal Health, said,…
“The capital raised will enable us to strengthen our presence in existing markets and expand our business prospects further.”
“We are also looking at expanding our footprints outside India, mainly in the MENA (Middle East and North Africa) region and South-east Asia. We feel that India provides a very good platform for the next five-seven years.”
Rajeev Agrawal, managing partner, Ambit Pragma, said,..
“As the healthcare industry gets organized across the value chain, institutional and consumer demand for management of care and payments will only escalate.”
Ambit Pragma has invested in Vidal Health which is its second investment, made from $150 million second fund called Ambit Pragma Fund II which it raised in 2013.