LifeSpring Hospitals

Last updated

LifeSpring Hospitals
Company type Private (joint venture of HLL and Acumen)
Founded10 December 2005;19 years ago (2005-12-10)
Headquarters Hyderabad, India
Number of locations
19 (2017)
Key people
Vijaybhasker Srinivas, Head (Operations); Subba Rao, Head (Finance)
Services health care/maternity care
Website www.lifespring.in

LifeSpring Hospitals is an Indian hospital chain, which provides maternity care to women from the low-income group in Hyderabad, India. [1] Established in 2005, it is a 50-50 joint venture between $30-million Acumen Fund, a U.S.-based nonprofit global venture philanthropy fund and HLL Lifecare Limited, a Government of India -owned corporation and the largest manufacturer of condoms in the world. [1] [2] [3] [4]

Contents

As of September 2017 it provided affordable healthcare to 5,500,000 women with its ten hospitals in Hyderabad, and one hospital in Visakhapatnam, Andhra Pradesh, India, providing maternity and pediatric care at 30-50 percent of market rates, and is the first healthcare chain to join the 'Business Call to Action' (BCA), an initiative of United Nations Development Programme (UNDP) and UN Global Compact amongst others, to reduce poverty, hunger, disease, and maternal and child deaths by 2015. [5]

History

The first LifeSpring hospital was started on 10 December 2005 in Moula-Ali, on the outskirts on Hyderabad, India, as a pilot project within Hindustan Latex Family Planning Promotion Trust (HLFPPT) of Hindustan Latex Limited, now HLL Lifecare Limited (HLL) for low-cost healthcare. [6] In February 2008, it was formed as into a private limited company with 50-50 joint venture between Acumen Fund, a U. S.-based nonprofit global venture philanthropy fund and HLL. The project was headed by Anant Kumar, who was till then the business head of Social Franchising in HLFPPT, who later became Life-Spring's CEO. [7] [8] HLL is a public-sector undertaking under the Ministry of Health and Family Welfare, Government of India, while New York-based Acumen, was established in 2001, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists.

The hospital established a model of building a chain of small-sized (25-bed) hospitals specializing in standard maternity services thus provide low-cost services in high-density area populated by low-income groups. It also provides pediatric care, including immunizations, and offers diagnostic services, pharmacy and healthcare education to the local communities. [9] [10] [11] It uses CRM to track customers in real time and runs a web-based patient database. [12]

Mr. Anant Kumar was part of the roundtable of "entrepreneurs with innovative models", at the Trident Hotel, Mumbai, during the November 2010, visit of US president, Barack Obama. [13] Mr. Anant Kumar was the CEO of LifeSpring till January 2013.

Later, Mr. Sushmit Mitra took over as CEO. Under him, LifeSpring established one hospital in Vizag and has grown from around 350 deliveries per month to about 550 deliveries per month. He was the CEO till June 2017.

Currently, LifeSpring Hospitals offers its services through 11 branches and 8 extension centers. Of these, 10 branches and 8 extension centers are in Hyderabad, India and one branch is in Visakhapatnam. LifeSpring delivered around 20,000 healthy babies in the last 3 years. Since inception LifeSpring has delivered a total of 50,000 healthy babies. Annually, LifeSpring Hospitals deliver about 6% babies born in the city of Hyderabad.[ citation needed ]

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References

  1. 1 2 "Hindustan Latex, venture fund in pact for hospital chain". Financial Express . 18 March 2008.
  2. ↑ Hindustan Latex is world's largest condom producer Financial Express , 24 November 2007.
  3. ↑ "How services firms in India are using disruptive innovation". Mint . 3 February 2011.
  4. ↑ "A Most Meaningful Gift Idea". The New York Times. 23 December 2009.
  5. ↑ "Indian hospital chain to fight maternal mortality : LifeSpring Hospitals to provide 82,000 women with affordable healthcare through Business Call to Action initiative". United Nations Development Programme. 8 April 2010. Archived from the original on 23 July 2011.
  6. ↑ "Hindustan Latex targets Rs 1,000-cr turnover". Business Line. 16 December 2005.
  7. ↑ "Our Team". LifeSpring website. Archived from the original on 21 July 2011.
  8. ↑ "Current Investors". LifeSpring website. Archived from the original on 21 July 2011.
  9. ↑ "LifeSpring Hospitals". Acumen Fund website. Archived from the original on 22 December 2010.
  10. ↑ "LifeSpring Hospitals: Bringing Maternity Care to Poor Mothers in India". ABC News. 23 December 2010.
  11. ↑ "Health care in India : Lessons from a frugal innovator". The Economic Times. 16 April 2009.
  12. ↑ "INFORMATION TECHNOLOGY: Cost saving is the key reason for firms adopting cloud computing". Business World. 25 July 2009. Archived from the original on 3 August 2009.
  13. ↑ "Obama talks business with industry heads". The Times of India. 7 November 2010.
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