Investors look beyond Satyam fraud

HYDERABAD: CallHealth, the healthcare services startup founded by Sandhya Raju in November 2013, daughter-in-law of Ramalinga Raju, has mobilised around Rs 200 crore over the past three years. It's got the support of key industrialists, with a third of the funds coming from them, according to persons close to the development. It raised Rs 50 crore in June, the latest funding round.
Ramalinga Raju admitted to India’s biggest corporate fraud in 2009 at Satyam Computer Services, the company he founded and led. Sandhya Raju is the daughter of Ramco Systems’ vice chairman PR Venketrama Raju. A businessman who has invested in CallHealth said, "Though Ramalinga Raju may not be directly involved in CallHealth’s operations, I could see his imprint in everything they are doing." He didn’t want to be named.

CallHealth offers services such as consultations with doctors, diagnostic services, homecare, physiotherapy and delivery of medicines. It also promises medical appointments and surgeries on priority basis and users can access the service by phone, website and mobile app.

Prominent investors include Satish Reddy and GV Prasad of Dr Reddy’s Laboratories, Suresh Rayudu Chittoori of Srinivasa Hatcheries, actor and producer Akkineni Nagarjuna, producer and distributor Allu Aravind, producer and vice president of Hyderabad Angels Suresh Daggubati, according to Call-Health chief executive Hari Thalapalli. Satish Reddy and Rayudu confirmed their investments, while the others didn’t respond to ET’s queries.

Reddy refused to divulge details, terming these as "personal investments". Rayudu said his family invested around Rs 5 crore in two tranches. "CallHealth has figured out the model. It is probably the first one with a holistic vision of what the future (of healthcare services offering) should be," he said. Sandhya Raju said Ramalinga Raju had no role to play. "The management team I have put in place runs the company.". Ramalinga Raju didn’t respond to ET’s queries.