Deepak Kumar, who is 25 year old and comes from a small town in India, always, dreamt of becoming a doctor. Having seen some medical tragedies in his families he wanted to take up a profession where he can save lives. But when he could not crack medical entrance exam despite multiple attempts, he had almost lost the hope of becoming a healthcare professional. Then he heard about Emergency Medical Technician training, he decided to pursue six months Emergency Medical Technician (EMT) training program from VIVO Healthcare. Deepak completed his training and got well versed with all the necessary skills required for an Emergency Medical Technician (EMT). Deepak’s doors for healthcare got more widened and very soon he got campus placement in one of the leading healthcare companies in India.
According to a recent report, healthcare in India is at a crossroads. The rise of non-communicable diseases (NCDs, such as heart disease and cancer), along with substantial gaps in the country’s healthcare infrastructure, are compounded by a shortfall of skilled healthcare talent. A study done by Public Healthcare Foundation of India indicates that the current requirement for Allied Healthcare Professionals (AHP) in India is nearly 6.5 million as against a supply of less than 300,000.
VIVO Healthcare, a skilling company, is trying to solve this ever growing problem in the healthcare market. The Company was incorporated in the year 2009, but commenced its training and education business, in 2011-12. VIVO was launched initially with an objective to impact the Emergency Health ecosystem. In its initial stage it had launched an ambulance service, but soon came to realize that the need for training of paramedics and healthcare technicians presented a much larger opportunity. Consequently, the company launched its training programs which are divided into vocational skill development, and emergency and safety trainings for hospitals, schools and corporates. Over the last five years, VIVO has trained more than 2,000 students, of which more than 50% comes from families that have annual income of less than Euro 3,000 in its vocational training programs with over 92% placement record. Additionally VIVO has trained more than 65,000 participants under its life support training programs in schools, healthcare organizations and corporates. VIVO’s training programs are accredited with various national and international healthcare institutions
After receiving strategic investment from Springboard Ventures (Investment arm of Bennet Coleman & Company) for marketing and promotion activities in 2015, VIVO was looking to raise the next round of funding to fund the exponential growth of the business. At the same time, VIVO was looking to bring on an investor that has network and expertise to help grow the business in the international target markets. ICCO Investments made an equity investment in VIVO in order to support this growth ambition and bring network for international growth opportunities to the table.
As more than 50% of the students are from families with annual income of less than Euro 3,000 and 30% with annual income of Euro 3,000 to 7,000, the livelihood impact to the BoP population is significant as these students starts with an annual salary of Euro 3,000. In the next five years VIVO aspire to train more than 50,000 students with total direct economic impact of more than Euro 120 million by way of salaries earned by these students.