USAID supported SAMRIDH Healthcare commits Rs 2.95 crore to StratMed for strengthening India’s healthcare infrastructure

New Delhi: The SAMRIDH Healthcare Blended Financing Facility has committed Rs. 2.95 Crore (US $ 421K) to StratMed to support their tech-enabled platform linking all key stakeholders in the healthcare supplychain ecosystem – including hospitals, manufacturers and suppliers.

The initiative aims at improving cost-efficiency, quality and outcome focused in the traditionally undeserved regions. SAMRIDH is a multi-stakeholder innovation and financing platform supported by the United States Agency for International Development (USAID) and implemented by IPE Global.

Through blended financing solutions, it offers both grant and debt financing provision to scale high impact health solutions that can strengthen healthcare delivery in India.

India currently has nearly 59,000 private hospitals, that are primarily standalone doctor owned hospitals/clinics in lower socio-economic zones in metros and Tier 2 and 3 cities that do not have effective technological solutions for management of their services, nor do they have access to a wide range of vendors and manufacturers to optimize their costs and material consumptions.

StratMed aims to revolutionize procurement in the healthcare sector by creating the world’s first fully aggregated healthcare supply chain ecosystem. Through this partnership, StratMed will gain access to affordable finance and technical assistance to expand the operations of its technology driven platform, Integer™. With this collaboration, StratMed aims to onboard 300 hospitals in Tier 2 and 3 towns and will create a “multisided business model”, enabling effective engagement among diverse players within the healthcare ecosystem. This will also bring transparency of information to drive down the costs and consumption for the hospitals and better Sales & Operations Planning (S&OP) for Supply Chain Partners.

Speaking about this partnership, Mr. Himanshu Sikka, Project Director, SAMRIDH said, “We are excited to partner with StratMed to make high quality medical consumables and drugs accessible and affordable to hospitals in Tier 2 and 3 cities, specifically those covered under PM-JAY and state health insurance schemes. Through our expertise in innovative financial instruments, we aim to enable StratMed in strengthening its presence in underserved regions and opening newer markets to manufacturers and suppliers.”

Dr. Sameer A. Khan, Founder & CEO of StratMed said, “We are pleased to receive this support from USAID-Supported SAMRIDH initiative. We believe in enabling a level-playing for equitable and sustainable healthcare infrastructure growth. Our Artificial Intelligence and Machine Learning driven platform Integer™ is changing the way supply chain and consumption planning is managed across hospitals in India. Our collaborative eco-system scaling approach has benefitted both our hospitals and supply partners. With support from SAMRIDH, we will now be able to scale our operations and penetrate deeper into India’s healthcare system.”