Emergency Medical Services Startup Medulance Records Shark Tank’s Biggest Deal.

Medulance is an ambulance service dedicated to delivering fast and dependable medical care. They have established a system that guarantees ambulance arrival within 20 minutes, supported by their helpline and cutting-edge technology. With a fleet of 7,500 ambulances across 22 cities, Medulance has significantly improved response times, particularly in Delhi, where they have decreased the average ambulance response from 35 minutes to just 11 minutes.

Click here to visit their official website: Medulance

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Medulance started its journey in 2017 and has built a network of 7,500 smart ambulances across more than 60 cities. They have successfully assisted around 200,000 patients and made significant strides in emergency response, particularly in Delhi, where the average response time has dropped from 35 minutes to just 11 minutes. Their goal is to extend their services to every corner of India.

To enhance their operations, Medulance collaborates with 60 corporate partners and currently has a subscriber base of 8 million employees using their Medu Alert service.

In terms of financial performance, the company generated sales of 24 crores from 2021 to 2022, achieving a net profit margin of 24%. The previous year, from 2020 to 2021, they reported sales of 15.7 crores with an 18% profit margin. Last month alone, their sales amounted to 2.7 crores. Looking ahead, they project sales of 40 crores for the fiscal year 2022-2023, with an anticipated profit margin of 24%. Notably, Medulance is entirely self-funded and has never sought external investments.

Namita and Aman proposed to invest ₹1 crore for 1% equity in Medulance, while the rest of the investment would be in the form of debt. However, Anupam, one of the investors, turned down their offer because he wasn’t interested in taking just 1% of the company. Amit, another investor, initially wanted to give ₹5 crore for 10% of the company. But later, he changed his offer to ₹5 crore for 5% of the company instead. This new offer valued Medulance at ₹100 crores, making it the largest single investment offer in the history of Shark Tank India so far.

Peyush, another investor, decided to team up with Namita and Aman to support their initial offer. Counteroffer from Medulance: After considering the offers they received, Medulance came back with a counteroffer. They asked for ₹2 crore for 1.5% equity in the company without any debt. Peyush then suggested they increase the equity to 2% for the same amount, and Medulance agreed to that offer.

Medulance Healthcare Pvt. Ltd., established in Delhi, is a growing company that offers a variety of medical services through four different business models: B2C, B2B, B2B2C, and B2G. Their aim is to deliver more effective healthcare solutions by leveraging technology and an extensive network. The Medulance Air Ambulance is a notable feature of their service, equipped with essential tools like ventilators, ECG machines, stretchers, a mortuary chamber, monitoring devices, and CPR kits for emergency situations. As a top provider of technology-driven emergency response services, Medulance is committed to offering responsible healthcare options in India. They ensure prompt and efficient support across four types of ambulances: Basic Life Support, Advanced Life Support, and Mortuary Vans.

As of summer 2024, it became clear that Medulance did not finalize their deal with the investors on Shark Tank India. Nevertheless, the company has made a significant impact by saving over 1.5 million lives and operates in more than 110 cities across India. They are also the official medical partner for MotoGP India, which is an important recognition for them. Medulance continues to expand, and while their financial information is not yet available, updates will be provided when more details come out.

In an interesting development, even though Amit Jain, one of the Sharks, didn’t invest in Medulance, he has recently incorporated this GPS-based service for quick ambulance response into his company, CarDekho, without any exchange of money. This indicates his support for their mission in a different capacity.