Policybazaar invests $50M in healthcare biz
DocPrime, the latest healthcare venture by Policybazaar and Paisabazaar parent EtechAces Marketing and Consulting (Policybazaar Group), has received an initial internal funding of $50 million from the parent company. In June 2018, the Policybazaar Group marked its entry into the healthcare business with DocPrime, while announcing a delay in its IPO plans as well. This was also a time when the Policybazaar Group raised more than $200 million funding led by SoftBank Vision Fund and InfoEdge. DocPrime is a monthly subscription service that will provide complete coverage of outpatient department (OPD) expenses incurred by users, covering all doctor calls, medical checks, and tests, barring surgeries and pharmacy-related expenses. Its core offerings include free consultation services through chat and phone with in-house doctors and offer discounted doctor and lab appointment bookings to encourage consumers to seek expert medical advice and get the right treatment healthcare in a timely manner. The platform also aims to bring in a unique OPD subscription-based product, which will cover unlimited consultations and diagnostic tests.