11 July 2022 | News
LifeWell raises $80M from OrbiMed to build large-scale healthcare delivery platform with full-stack diagnostics
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Digital health startup MFine and LifeCell International, India’s leading stem cell bank and reproductive genetic testing services provider, have announced a strategic joint venture (JV) whereby LifeCell’s diagnostics business and MFine will merge to form a new entity called LifeWell.
Additionally, the entity has secured an $80 million investment from OrbiMed, a leading healthcare investment firm with approximately $18 billion in assets under management.
With significant strategic investments and acquisitions lined up, LifeWell expects to serve more than 50 million users over the next five years.
The capital raised will also be used for strategic investments in Insurance-tech and other partners that will give a boost to MFine’s fast growing corporate and insurance channel. With offline presence of the diagnostic lab partners and MFine’s digital health and at-home services, consumers will experience high quality omni-channel healthcare delivery.