Self-Test
Cervical Cancer
Season 3 Episode 29
| Brand | Cervicheck |
| Company Name | Pragmatech Healthcare Solutions Pvt. Ltd. |
| Founders | Anirban Palit, Sayantani Pramanik |
| Original Ask | 75 lakhs for 1.5% equity at the valuation of Rs. 50 crores |
| Deal | 75 lakhs for 5% equity at the valuation of Rs. 15 crores |
About the Product
The CERVICHECK Self-sampling Kit offers women the autonomy to collect their cervical samples discreetly, comfortably, and with precision. These self-collected samples serve not only for screening using the CERVICHECK Screening Kit but also for HPV testing and subsequent triage assessments. The convenience of the CERVICHECK Screening Kit lies in its ability to detect cervical lesions at the point of care. This test can be easily administered at a pathology lab, a doctor’s office, or during health screening events, with results available almost immediately. The CERVICHECK Screening Kit facilitates the prompt identification of early-stage cervical lesions, aligning with WHO’s screen-and-treat approach by enabling timely treatment intervention without delay.
Founders & their story
- Anirban Palit
- Sayantani Pramanik
Introducing Cervicheck, the trusted partner in at-home cervical health screening. They understand the importance of proactive health management, especially when it comes to cervical health for women aged 25 to 60. With Cervicheck, individuals can now conveniently monitor their cervical health from the comfort of their own home. The process offered by Cervicheck is simple yet comprehensive. Upon ordering a Cervicheck kit online or through their mobile app, customers receive everything they need to collect their cervical sample. The kits come with easy-to-follow instructions, ensuring a seamless and safe collection process. Rest assured, Cervicheck kits are designed for accuracy, boasting a 95% precision rate in detecting cervical abnormalities.
Once the sample collection is complete, customers can contact Cervicheck through their dedicated representatives available via a helpline or app, ready to schedule a pickup at their convenience. Cervicheck prioritizes flexibility to accommodate individual schedules and ensure timely sample collection. The collected sample is then transported to Cervicheck’s state-of-the-art laboratory facility, where it undergoes thorough testing by a team of experts. With precision and care, the sample is analyzed to provide customers with reliable results. At Cervicheck, the health and well-being of their customers are top priorities, and they strive to deliver accurate results that can be trusted.
While the HPV vaccine offers protection against certain high-risk subtypes of the virus, it’s essential to remember that it doesn’t cover all strains. That’s why regular cervical health screening, like Cervicheck, is recommended for all healthy women. Their mission is to empower women to take control of their health by offering a convenient and accessible screening solution. As a pre-revenue company, Cervicheck has received grants totalling 2.2 crores and made an initial investment of 13 lakhs. With 27 lakhs in the bank, they are poised for growth and expansion. Their future target is ambitious yet achievable: to sell 40,000 kits in the first year and to become distributors for HPV testing and sampling kits priced at Rs 2500.
About the company
At Pragmatech Healthcare Solutions Pvt. Ltd., the focus lies on addressing health challenges pertinent to India or similar resource-constrained settings. Recognizing the pivotal role of preventive diagnosis in enhancing population health, particularly in an aspirational nation like ours, they prioritize the development of diagnostic strategies tailored to local needs. They acknowledge that approaches used in developed countries may not seamlessly translate to India due to unique challenges, and thus emphasize the identification and effective resolution of these gaps through innovative solutions. At the core of Pragmatech is a team characterized by a profound understanding of the market, a robust scientific foundation for solution development, and a fervent commitment to making a meaningful impact on individuals’ lives. The team comprises four co-founders, each bringing complementary skills and domain expertise to the table.
Revenue
Cervicheck has strategic plans to broaden their sales channels by collaborating with laboratories, NGOs, and hospitals. Their innovative approach ensures accessibility to cervical health screening for a wider demographic. Unlike existing HPV tests priced at Rs 3000, Cervicheck offers an affordable solution at just Rs 250. Recognizing the need for a more cost-effective screening option, Cervicheck is developing a comprehensive screening test priced at Rs 450. This all-inclusive test covers both sampling and screening, significantly reducing the overall cost for customers to Rs 3250.
Moreover, with a selling price of Rs 250 and a manufacturing cost of Rs 135, Cervicheck ensures affordability without compromising on quality. This competitive pricing strategy enables them to reach more individuals and promote proactive cervical health management. By partnering with laboratories, NGOs, and hospitals, Cervicheck aims to expand their reach and impact, making cervical health screening accessible to all women. Their commitment to affordability and innovation underscores their dedication to improving women’s health outcomes and reducing barriers to care.
Founders’ Ask
75 lakhs for 1.5% equity at the valuation of Rs. 50 crores.
Offers
Ritesh’s offer: 75 lakhs for 5% equity at the valuation of Rs. 15 crores.
Namita’s offer: 75 lakhs for 5% equity at the valuation of Rs. 15 crores.
Founders’ Counteroffer
Offer 1: 75 lakhs for 3% equity at the valuation of Rs. 25 crores.
Offer 2: 75 lakhs for 3.5% equity at the valuation of Rs. 21.43 crores.
Offer 3: 75 lakhs for 4% equity at the valuation of Rs. 18.75 crores.
Final Deal
Namita: 75 lakhs for 5% equity at the valuation of Rs. 15 crores.