Founded in 2010
Initial investment in 2011
Board member: Sandeep Farias
'Glocal provides quality, affordable, patient - centric healthcare services in medically underserved locations in India'
Focusing initially on locations in Eastern India, Glocal sets up and operates hospitals catering to low income communities in rural India. These hospitals offer in and out-patient services, operation theatre, emergency and obstetric services. Glocal hospitals are designed to cater to low income communities. Through empirical on the ground research, Glocal’s management found that approximately 17 diseases constitute 85%, and 42 diseases make up 95%, of the diseases experienced in rural India. By designing a facility focused on addressing these conditions and protocolizing healthcare, Glocal has dramatically brought down the cost of healthcare service delivery to patients. The hospitals adopt a collaborative approach with the local healthcare ecosystem in each new location to establish presence and build a strong brand.
The communities that Glocal serves consist primarily of low income, rural Indians. They have a real capacity and desire to pay for quality healthcare, but there is a dearth of quality options to meet demand. Government run facilities tend to be understaffed and smaller private entities often lack quality. Patients end up spending excessively due to relapses in health conditions due to ineffective / incorrect treatment that is administered.
In India, 75% of the population lives in rural areas that lack access to basic healthcare services.
Dr. Azim, Founder and CEO, is a trained medical doctor. He is also a former officer in the Indian government (holding various positions including Director of Information Technology and Secretary to the Chief Minister of Tripura) and a tested entrepreneur, having built a pan-India, rural information and communications technology venture for one of India’s largest infrastructure players.
Mr. M. Damodaran, Founder and Chairman, has held multiple senior positions in India’s state and central government and most significantly is a former Chairman of the Securities and Exchange Board of India. He is widely acknowledged as among India’s foremost champions of corporate governance. He was also the Managing Director of Unit Trust of India, and served as Health Secretary for the state of Tripura.