Diagnostika (BVI), a Dubai-based healthscience company is planning to launch a series of high-end XY Clinics and Shapes Metabolic Spa in India to address corporate and executive wellness, dedicated to prevent and treat chronic health conditions. The decision to venture into the Indian market was divulged by the company during the bio-partnering event at the Bangalore Bio 2012.
These clinics offer three to six months programmes to individuals in the area of chronic disease management. Based on the extensive program research and development, patients get an evidence-based personal diet, vitamin and drug therapy combination to reduce and reverse their conditions.
The company plans to launch a combination of 20 plus fully owned and franchised XY Clinics for the Indian market in the next two to three years. Each clinic is estimated to cost about US$ 500,000, which is projected to breakeven in two years. In the long run the company intends to move its global operations and headquarters to Bengaluru, where it will house its global shared services and R&D centre along with a molecular laboratory.
The launch of series of XY Clinics and Shapes Metabolic Spa in India is co-promoted by Makven Capital and a series of angel investors. The first high-end XY Clinic was launched by the company last month in Dubai after having invested in extensive research and development for chronic conditions such as hypertension, diabetes, gastro intestinal and cardio vascular diseases. As part of its planned global expansion, the company hopes to open and run nearly 100 owned and partnered clinics across Asia Pacific, Middle East and Europe.
With a view to help achieve the planned rapid expansion, Diagnostika is in the process to raise capital from private equity firms and family trusts who are investors in innovative healthcare businesses and delivery models. The company is in negotiations with several hotel chains as well for launching of its metabolic spa.
According to Sam Rao, founder and CEO, Makven Capital, “XY Clinics offers a new kind of patient care which involves extensive evaluation and assessment using advanced molecular diagnostics, nutritional therapy based on the patient's metabolism and genes. Physicians working at XY Clinics will be trained in Dubai by some of the leading experts from their respective fields.”
Apart from the opening of the company’s global shared services hub in India, Diagnostika also has plans to open three more XY Clinics in the Gulf Cooperation Council (GCC) countries later this year.
According to Kapil Khandelwal, director, Makven Capital, and biopharma investor and one of the thought leaders on chronic disease management in India, “India suffers from a fast-increasing chronic disease burden, as traditional approaches to prevention and patient care in this segment have been ineffective and unsuccessful as evident from the year-on-year increase in the number of people in India falling prey to the lifestyle diseases. We are the first to provide outcome based model of treatment in this region as our chronic disease management programs at XY Clinics have been developed after an investment of three years of intense R&D.”
Rao further stressed that the Indian market is ripe for this kind of premium patient care solutions because individuals want specific outcomes. He said, “There is a growing awareness among many that chronic conditions can be better managed. The XY Clinics programmes are one of this kind and provide outcomes and results that the doctor agrees with the patient before the start of the programme with its unique approach which has not been offered until now in India.”
The legacy for XY Clinics and Shapes Metabolic Spa comes from one of its largest wellness facilities in the Middle East under the brand Shapes Wellness & Spa in Dubai. Along with XY Clinics, Diagnostika will be launching Shapes Metabolic Spa globally. Shapes Metabolic Spa will bring personalised evidence-based wellness programs in select hotels and resorts.