21st January 2019, Bangalore. Radiology is the most used method for diagnosis in India. The need for radiologists is growing across India. It is a country with over 10,000 radiologists. While this might seem like a considerable number, the upsurge in chronic diseases and a few other factors are increasing the demand for radiologists across the country. While technology is in place, technicians are the need of the hour, especially for India’s masses. People across Tier 2, Tier 3 and beyond, need to regularly travel to cities that have access to the latest diagnosis options for treatment.
Doctors all over the country are increasingly depending on radiology for an accurate understanding of a patient’s problem. Yet with this growing demand, India is a country with about 10,000 radiologists; most in urban areas, thereby leaving a large deficit in a patient to radiologist ratio.
5C Network raised an undisclosed amount from Unitus Ventures, Axilor and Centre for Innovation Incubation and Entrepreneurship (CIIE), the technology business incubator of IIM Ahmedabad. With the investment, over the next couple of years, the company plans to reach over 1,000 hospitals, 200 radiologists and integrate the complete ecosystem.
About 5C Network
5C Network is a catalyst to radiology ecosystem helping hospitals and diagnostic centres get access to the best specialist radiologist for optimal and timely diagnosis. Their online portal connects specialist radiologists from all over the country and make sure that every report can be read and interpreted by the best radiologist in the fastest possible time. It allows hospitals and diagnostic centres to upload scans directly to the cloud where automated data extraction and analysis is done by 5C Network’s proprietary algorithm.
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About Unitus Ventures
Unitus Ventures is the leading impact venture fund investing in startups innovating for the masses in India, focusing on healthcare, education and inclusive fintech. Founded in 2012, Unitus Ventures is a part of the Capria Network, the leading global network of impact fund managers, focused on addressing the “missing middle” finance opportunity by investing in high-growth businesses in emerging markets of Africa, Asia and Latin America. Capria Network is managed by Capria Ventures, a leading global investment firm, and is part of Unitus Group, a premier financial services group operating in India and other emerging markets since 2000. Unitus Ventures is based in Bangalore and Seattle and is a member of the India Impact Investors Council.