Lifetime Health Plus Care

History

2024: Raising $1.5 million in investments

On May 24, 2024, it became known that the Indian startup Lifetime Health, founded by Russians, held a seed round of funding, receiving $1.5 million. Investments will be aimed at further development of the project and expansion of the market presence.

Lifetime Health Konstantin Ryabtsev and Mikhail Vorobyov have developed a service for collecting medical tests at home. In addition, the startup provides express diagnostics, nursing and postoperative care, physiotherapeutic procedures. As of May 2024, Lifetime Health operates in Bengaluru and the company's partner network has approximately 200 clinics. For medical staff, Lifetime Health has developed a separate app that works on the Uber model.

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According to RB.RU, the funding round was headed by the American venture capital company The Garage Syndicate. In addition, business angels took part in the investment program. It is noted that at the very start of the project in 2023, $600 thousand was raised - this money entered the sowing round.

It is assumed that in the fall of 2024, the Lifetime Health platform will work in Mumbai. The coverage of the partner network is planned to expand to 10 thousand medical offices throughout India. By the end of 2024, Lifetime Health intends to achieve a monthly turnover of $100- $150 thousand. The country-wide investment program is scheduled for 2025.

According to Ryabtsev, the Indian market seems very promising for medical projects. For 10 thousand inhabitants in the country there are only about seven doctors and the same number of hospital beds. As Vorobyov adds, Lifetime Health's mission is to "make health care more convenient and accessible to the people of India."^[1]

2023: Lifetime Health platform launch in India

Entrepreneurs Konstantin Ryabtsev and Mikhail Vorobyov launched the Lifetime Health digital platform in India on September 26, 2023. For the start, the founders attracted $600 thousand investments. The company plans to expand the geography of the project to major Indian cities, while Lifetime Health began work only in Bengaluru. The company's expected revenue is $1 million per month in 5 quarters.

The Lifetime Health app is already available for download on Google Play.

Lifetime Health's patient platform allows you to order not only home biomaterial sampling for research, but also rapid diagnostic services using medical devices, physiotherapy procedures, and nursing and postoperative care. The partners of the project in Bengaluru were the laboratories Metropolis Health and Orange Health, as well as HealthCubed - the company provides medical equipment for rapid testing. A separate app has been created for medical staff at Lifetime Health that runs on the Uber model. The process of interaction between the health worker and the patient is automated and transparent, the reception and processing of orders are provided with detailed information, and the speed and quality of medical services are easy to track.

The Indian market was chosen to launch as it is one of the most promising and fastest growing in the world as of September 2023 with a maximum share of commercial medicine and a low stage of market saturation. According to forecasts, by 2030 already 40% of the population of India will live in cities - the population of large cities is increasing by 3-4% per year. At the same time, doctors are seriously lacking, the provision of medical services is low here, and the demand for them is constantly growing:

As of September 2023, there are about seven doctors and the same number of hospital beds for 10 thousand people in India, only 20% of doctors work in rural areas, so that middle and high income people go to large cities for treatment, even if they do not live in them, "said Konstantin Ryabtsev, CEO and co-founder of Lifetime Health. - In addition, the share of the middle class is rapidly increasing in India, the segment of people with high incomes is growing. Premium health services are projected to hold roughly 10% of the market by 2030, by the same year India will have about 370 million Generation Z consumers - people aged 10 to 25 who have grown up in India with ubiquitous internet, smartphones, digital media and services. When they start to actively earn and spend, they will already use consumption models based mainly on digital technologies. All this makes the Indian market extremely attractive for projects such as Lifetime Health. There are already several companies in the Indian market that provide such services, but none of them occupies a significant share, despite the rapid growth and assessment of the prospects. There is still a low penetration rate and a lack of quality diagnostic services.

We see Lifetime Health's mission to make health care more convenient and accessible to the people of India, "said Lifetime Health co-founder Mikhail Vorobyov. - It is this mission that we are guided in the development strategy development and in decision-making, which allowed us to quickly assemble a team of like-minded people who caught fire with the idea of ​ ​ creating a medical platform with high quality of service and accuracy of research.

To launch in Bengaluru, the founders of Lifetime Health raised $600,000 in investments. Among the main investors: SharesPro Ventures (Ivan Shcherbina, Denis Astafiev), Orion Health (Andrey Perfiliev, Ilya Kupriyanov), and Alexey Korolyuk (ex-REG.ru). Over the next 6 months, Lifetime Health plans to launch its own laboratory, reach full city coverage and prepare to scale into three new regions. The funds will be used to open a laboratory in Bengaluru and prepare for further scaling in million-plus cities. The company plans to grow to $1 million in revenue per month for 5 quarters and serve 50 thousand patients per month by the end of 2024.

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