Portea Medical's losses widen to Rs 123 crore even as revenue triples

Portea Medical has raised over $46.5 million from investors

 Portea Medical, the health care start-up promoted by K Ganesh and Meena Ganesh, has seen losses triple to Rs 123 crore in FY16, as it acquired smaller rivals and expanded medical services for consumers on their premises.

However, the Bengaluru-based company, backed by Accel Partners and International Finance Corporation, saw its revenue grow to Rs 47 crore, a three-fold increase over the previous financial year, regulatory filings data sourced from research platform Tofler showed. During the year, Portea acquired home medical equipment service provider Health Mantra and specialty pharmaceutical distributor Medybiz Pharma for an undisclosed sum. Expenses grew to