La Renon Healthcare secures $16million funds from Sequoia Capital as Series ‘A’ funding. La Renon pursues passion of becoming a global healthcare company. They offer world class quality pharma products and services for various critical illnesses and diseases. La Renon focuses on continuous value addition to its business model, making it an unparallel platform for their stakeholders.
Initially La Renon started making drugs in the nephrology space and slowly branched out into other segments of chronic diseases such neurological disorders and urology. They are planning to move into gastroenterology and respiratory. The company has employee strength of 500 people and has developed 164 products which are distributed among 400 stockists across India.
La Renon services the highest number of Chronic Kidney Disease patients in the India. Almost 6 crores people are suspected to be suffering from some form of kidney diseases in the country. The company focuses on preventive medicine for chronic diseases like kidney problems at an early stage.
The company was founded in 2007 by Pankaj Singh, chief executive officer of La Renon. He has rich experience in pharmaceutical industry. Pankaj was India business head for Claris Lifesciences Ltd from June 2000 to July 2007.
La Renon generates turnover of Rs.325 crores and has ambitious plan of reaching Rs. 1000 crores in next 4 to 5 years. The targets seems to be easily achievable since a Harvard Study suggested that in the last 20 years healthcare expenditure in India was $700 billion and in the next 20 years it will be in the region of $8 – $9 trillion.
La Renon secures Series ‘A’ funding for $16 million from Sequoia Capital India Advisors on June 12, 2015. After funding La Renon Chief Executive Officer, Pankaj Singh said “Chronic diseases are fast becoming a major health risk for a majority of Indians, largely due to factors relating to the changing modern lifestyle and our aim to develop and market new and innovative solutions to address these chronic health issues. With this partnership with Sequoia we look forward to providing integrated care to solve chronic diseases and affordably addressing the underserved medicinal needs of the galloping patient population.”
VT Bharadwaj, Managing Director of Sequoia Capital India Advisors said “Health and technology are converging to become ubiquitous in patients’ and doctors’ lives. La Renon with innovative solutions and deep understanding of chronic diseases management has the potential to be a game-changer in the chronic disease care space in India.”
Sequoia Capital is investing aggressively in technology sector, however the fund started investing in pharma sector with the investment of $100 million in last year. According to VT Bharadwaj of Sequoia Capital “The day of being a generalist pharma company by catering to various disease profiles and therapies is becoming harder and now we are seeing evolution of specialist players.”
Meanwhile Sequoia Capital has invested in pharmaceutical companies like Koye Pharmaceuticals, Curatio Healthcare and Innovcare Lifesciences. Recently the fund has invested in home furnishing sector by funding $50 million to HomeLane on June 15, 2015.