MediBuddy approaches EBITDA neutrality, strengthens its path toward making high-quality healthcare accessible to a billion people
National, April 20th, 2024: MediBuddy, India’s largest digital healthcare platform, has announced significant progress towards EBITDA neutrality, reaching break-even with a marginal loss as it closed the previous fiscal year (FY 23-24). This will further strengthen MediBuddy’s position as India’s fastest-growing digital healthcare company, driven by its comprehensive service offerings and unwavering commitment to transforming healthcare accessibility across the nation.
MediBuddy’s user base has witnessed an impressive growth of 2.4X over the last 3 years, serving close to 3cr Indians with over 1cr subscribers. The company’s focus is now on exploring M&A opportunities in key healthcare areas such as chronic disease management, mental health, diabetes, women’s care, and weight management, backed by an $18 million capital pool dedicated to these investments.
Satish Kannan, Co-founder and CEO, MediBuddy said “MediBuddy is leading a healthcare revolution in India by prioritising customer-centric, technology-driven solutions. We empower doctors through our platform, offering accessible care via video consultations, hospital visits, clinics, pharmacy deliveries, and diagnostic services. By leveraging technology, MediBuddy’s platform enhances doctor-patient interactions. This commitment to innovation is fueling our remarkable growth and expanding healthcare access nationwide.”
MediBuddy has successfully integrated vHealth, a recent acquisition (in 2023), significantly broadening its reach, particularly in tier two and tier three areas, and enabling the platform to cater to a wider range of customers.
With a rapidly expanding network of over 90,000+ doctors across 22+ specialities, 7,100+ hospitals, and clinics, over 5,000+ diagnostic centers, and 2,500+ pharmacies, MediBuddy has solidified its position as a holistic healthcare solution provider. Additionally, to further enhance its diagnostic capabilities and service offerings, MediBuddy has also on-boarded over 10,000+ hospitals and diagnostic centers for all radiology and pathology investigations.
These impressive metrics have set the stage for continued growth in the future, underscoring MediBuddy’s ambition to expand its market share in the rapidly evolving digital healthcare industry.