In an effort to tap a potential $2-billion market, billionnaire Anil Ambani's Medybiz, the Reliance Health Venture-promoted disease management company, will soon start a home-based geriatric health management and rehabilitation services in the country.
The company is working out a customised home-based intervention programme offering regular healthcare services, treatment options and rehabilitation programmes to help the old manage their health and day-to-day activities.
Medybiz, a wholly-owned subsidiary of Reliance Health Venture, will soon begin a pilot project in Mumbai and has already started recruiting paramedical professionals, such as physiotherapists, dieticians, counsellors and home care nurses.
The company is also exploring partnership options with local non-governmental organisations, old age associations and support groups of chronic disease patients to launch the pilot programme, sources said.
India has a senior citizen population of 85 million which is expected to reach 100 million by 2011 and may double by 2026. The current geriatric services market in India is about $250 million, but is expected to grow to $1 billion by 2012 and $2 billion by 2017, said sources.
"The program will be based on 'assitance and care concept' to manage daily activities of old age population suffering from diabetes, hypertension and arthritis. The customised nature of the service will enable them to live a healthy disease free lifestyle," sources added.
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Reliance Health Venture is yet to roll out its plans of foraying into the healthcare segment.
According to sources, Reliance Health was planning a drug distribution chain, network of hospitals and medicities in different parts of the country as part of its healthcare foray. The group is setting up a super specialty hospital, Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute at Andheri in Mumbai. The group also has presence in the health insurance segment.
When contacted, a Medybiz spokesperson declined to comment. Sources said the project requiring multi-million rupees of investments will have a pan India presence, following the success of the pilot project.