British International Investment

Boston Ivy Healthcare Solutions Private Limited

South AsiaConsumer - Health

Medikabazaar is a B2B medical supplies platform in India. It serves hospitals, dental clinics, nursing homes, medical institutions, and physicians.

Our investment

Description of the investment.

Our investment will help to streamline the medical supply chain in India, resulting in improved availability of various medical supplies, transparent pricing and lower search costs for small providers. In turn, such products and services will enable these providers to meet the health needs of smaller groups and communities that live beyond large cities.

Impact information

Applies to investments made from 2019 onwards. The tabs in this section define what we expect to achieve through the investment, assessing the potential impact of the investment against six dimensions of impact. You can find more details on our methodology of assessing impact here.


  • Improve health outcomes (SDG 3) through improved access to medical supplies.
  • Provide economic opportunities (SDG 8.5)


  • Enabler: The firm's expansion will enable greater access to medical supplies. The business will help transform the fragmented medical supply chain by offering better prices, higher quality, greater assortment and lower search cost of products as well as consistency of supply and turnaround times for customers and healthcare providers in smaller towns.
  • Direct: Create jobs through business growth.


Stakeholder Geography Characteristics
Customers (i.e. healthcare providers and their patients)

India (current geographic presence is across 25 states)

~50 per cent of Medikabazaar’s sales are currently to smaller hospitals and nursing homes, and ~60 per cent of its customers live outside metro cities.

How much?

Scale Depth/Duration

Medikabazaar currently has 18,000-20,000 healthcare provider customers reaching an estimated 10 million patients annually. We expect them to grow customer scale by 2-3x during our investment. A significant share of these will be small hospitals, nursing homes, micro day care and dental clinics in non-metro cities.

By improving medical supply chains and transparent prices, Medikabazaar can enable an additional 34,000 healthcare providers, particularly smaller hospitals, and nursing homes, to improve access to and affordability of medical supplies. This should improve quality of care for the millions of patients treated by these facilities.

Medikabazaar estimates cost savings for health providers. The company provides access to products, including life-saving medical products such as ventilators and a range of COVID-related products, giving us comfort that material impact is delivered. Some products are not currently available in more rural areas (with turnaround time of fewer than three days for the most remote providers), so this should improve the quality of treatment and experience for patients.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

We agreed on an ESAP which included the development of a formal ESMS, occupational health and safety measures, supply chain management, and waste management. We are working with the company on environmental and social capacity building, fire safety, and managing risks associated with new acquisitions and expansions.

Environmental and social risk


Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    March 2024
    Project number

    An identifier number shared by investments in the same project.


    The current status of the investment (green flag for active and red flag for exited).


    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    South Asia

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.

    Consumer - Health

    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Start date :
    March 2022
    Amount :
    Currency of investment :

    The company or investment fund’s place of incorporation.


Related investments made by BII into this company:

Investment name Commitment Region Sector Start date Status
Investment 01 $10m, $17.5m South Asia Consumer - Health August 2021 Active

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