VenturEast exit from Comprehensive Prosthetics & Orthotics
FinTech BizNews Service
Mumbai, November 22, 2023: Early-stage venture capital fund, VenturEast and Healthcare Private Equity fund, InvAsent have exited from US-based Comprehensive Prosthetics & Orthotics (CPO) in a financial secondary. CPO has raised a new round of growth capital led by NorthCreek and Parkway Partners.
CPO, co-founded by Amit Bhanti raised its first institutional round from early-stage venture fund VenturEast when the company started out in Peoria. The Company used the capital raised from VenturEast and InvAscent to expand in Illinois, Indiana, Iowa, & Missouri to break into the top 7 O&P companies in the United States. Along its growth journey, the Company acquired 4 different O&P practices to reach 35+ clinics & into the top 7 O&P practices in the US. The Company identified key technology workflow gaps that were not addressed by tech providers around claims management and collections. The Company not only built these tech tools & scaled across its clinics but has started offering these tech solutions to other O&P players in the industry on a SaaS offering. The Company has also scaled its Revenue Cycle Management practice with a sizable captive workforce in India.
"Our journey with VenturEast & InvAscent has been a vibrant chapter of mutual growth and shared vision. The investors’ unwavering belief in our potential has been instrumental in transforming CPO into a beacon for Patient Care, Professional Integrity and Sustainable Profitability. As they transition out, we stand as a testament to their commitment to nurturing compliance-driven excellence, poised for new horizons of success." said, Amit Bhanti, Founder of Comprehensive Prosthetics & Orthotics
“Amit has truly built a technology-enabled O&P practice that centres on “Patient Care”. We are proud to have backed the Company from Day 1 and see Amit scale from a single clinic in Peoria to breaking into the top 7 O&P players in the US. We believe CPO can break into the top 3 O&P players in the US in the next 3 to 5 years.” said Sanjeev Yamsani, Partner at VenturEast.
CPO exit marks the 8th exit (full or partial) for VenturEast since the beginning of 2021. The fund recently made a partial exit in Zaggle, which went IPO. Zaggle is up 60% since the listing. The fund’s other full exits include, iNurture, Seclore, Indus OS, Richcore Lifesciences.
VenturEast is an early-stage VC fund manager, amongst the longest lasting in India. Ventureast invests in businesses innovating for the next 400M+ Indians, and those building tech Products for SME's globally. We prefer B2B AND B2B2C businesses, where technology is a differentiator and data and not just 'capital, is a moat. The Fund has invested in around~ 120+ companies, powering multiple startups to market leaders such as Kissht, VideoVerse, MoEngage, ACKO, Infinite Uptime, Lohum, Zaggle, etc.
