Wellthy Therapeutics eyes threefold growth in revenue in 2-3 years
Backed by Cipla and Manipal Group’s Ranjan Pai, Wellthy Therapeutics has shifted its focus towards rapid revenue growth after spending three years (since inception) on validating its solutions through real-world studies. It is a start-up working in the area of digital healthcare solutions.
Wellthy is a digital personal diabetes coach, using artificial intelligence (AI) to facilitate behavioural change and improve health literacy among patients, in collaboration with hospitals, doctors, medical device makers, and insurance firms.
The company’s real-world studies have shown close to 60% people seeing a drop in their three-month average blood sugar level, and weight loss of 2.36%.
Abhishek Shah, CEO of Wellthy Therapeutics, said, “The company was registered in December 2016 and this financial year (2019-20), will be the first full year in which we report revenues. We became revenue-positive in the last six months. The first two years were dedicated to clinically validating the solutions through real-world studies, working with hospitals, insurers and others. We have established enough clinical proof that this actually works and patients are improving their health.”
“It may take a few years to break even in terms of profit. On revenue, we do expect growth of 2-3 times year-on-year for the next three years,” he added.