Medulance grows a terrific 5X growth in revenue; clocks 20-25% profit in two years
Mumbai, July 28, 2022: Medulance, India’s first comprehensive end-to-end emergency response service provider, has registered a 5X growth in revenue in just two years. Providing emergency response services across 60+ cities with more than 7,500 ambulances, the company’s focus on bolstering the immediate medical response has significantly contributed to its exponential growth.
Having a large fleet of tech-enabled ambulances and a trained team of medical professionals, Medulance has maintained its business momentum by serving patients in the city while recording a 20-25% net profit from FY 2020 to FY 2022. The company provides services to patients across India and also has a public-private partnership with the Government of Delhi for its Centralised Accident and Trauma Services (CATS) ambulances.
Armed with an intent to provide best-in-class emergency response, Medulance has partnered with wellness providers, insurtech players, and home-healthcare providers to further strengthen its foothold across the country.
Pranav Bajaj, the co-founder of Medulance, said, “ With our tech-enabled ambulances and certified professionals spanning across the country, Medulance has been successfully serving citizens across the country in times of medical emergency. The use of smart technologies has helped us accelerate our response time and reach patients in the least possible time. As we move ahead, we intend to expand our services across 200 cities backed by an ambulance fleet of 12,000. On the financial front, we are expecting our revenue to reach Rs 50 crore by fiscal 2023, a growth of 124%.”
Intending to increase the subscriber base to 50 million, Medulance is marching ahead to forge more public-private partnerships with state governments. By collaborating with IoT, connected cars, home security solutions, and insurance companies, the company is developing smart ambulances and implementing new technologies in emergency response. The company also intends to add air ambulance services to its offerings soon.
Aiming to strengthen the emergency response ecosystem in India, Medulance also plans to set up 150+ medical rooms in amusement parks, shopping malls, residential societies, co-working spaces, and office spaces across India.
