Personalized Caregiving Services

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Personalized Caregiving Services
Personalized Caregiving Services
For The Elderly, Persons With Disabilities (PWD) And Children
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Health Care
Health Care Providers
Business Model Description

Invest in business models for personalized caregiving services that include in-home care, companionship, personal hygiene assistance, medication management, and specialized care. There are both B2C and B2B businesses, offering services directly to customers or to beneficiaries via healthcare facilities. Customers and beneficiaries include the elderly, persons with disabilities, children as well as patients with long term illnesses requiring specialized care. Examples of companies active in this space are:

Homage Malaysia is a leading home care platform that offers a wide range of services, including home nursing, caregiving, and therapy. Their products include a mobile app to access a network of highly trained and qualified caregivers. It has raised USD 42.5 million to date including from EV Growth, Alternate Ventures, KDV Capital, HealthXCapital, Golden Gate Ventures, and 500 Startups (49).

Doc2Home is a telemedicine platform that offers virtual medical consultations. Their services include online consultations with licensed doctors, medicine delivery, and home-based health screening services. Its parent company, Doc2Us receives an average of 1,247 monthly downloads (50).

Kiddocare is a Malaysian-based start-up that provides on-demand pediatric home care services for children. Their services include doctor consultations, nursing care, and physiotherapy for children with various healthcare needs. Kiddocare has raised a total of USD 198,700. Investors include Endeavor, UN Women Care Accelerator and MyCIF (51).

Expected Impact

Increase the well-being of older patients and patients with disabilities, increase the satisfaction of basic and specific patients' needs, by providing specialized healthcare services.

How is this information gathered?
Updated: 18 Jun, 2023
Malaysia
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
< 5% (in GPM)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 100 million - USD 1 billion
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Good health and well-being (SDG 3) Decent Work and Economic Growth (SDG 8) Gender Equality (SDG 5)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Reduced Inequalities (SDG 10) Gender Equality (SDG 5)

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Sector Sources
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IOA Sources
  • 21) MIDA. 2020. Guide on Medical Devices Industry Malaysia https://mida.gov.my/wp-content/uploads/2020/07/Guide-on-Medical-Devices-Industry-in-Malaysia_21072020.pdf. 22) Code Blue. 2023. Proposed Senior Citizens Bill May Impose Penalties For Sending Elderly Parents To Care Homes. https://codeblue.galencentre.org/2023/03/15/proposed-senior-citizens-bill-may-impose-penalties-for-sending-elderly-parents-to-care-homes/. 23) New Straits Times. 2023. 2,144 senior citizens abandoned at hospitals over last five years. https://www.nst.com.my/news/nation/2022/07/815266/2144-senior-citizens-abandoned-hospitals-over-last-five-years. 24) Ministry of Women, Family and Community Development. 2016. Media Statement, Implementing the 2030 Development Agenda for All Persons with Disabilities: Leaving No One Behind. https://www.kpwkm.gov.my/kpwkm/uploads/files/KenyataanMedia/Implementing.pdf. 25) WHO. 2015. Global Disability Action Plan 2014-2021. https://apps.who.int/iris/bitstream/handle/10665/199544/9789241509619_eng.pdf;jsessionid=AC0A2EDCC0A416D538F78D906381A3EE?sequence=1. 26) MIDA. 2019. Medical and Healthcare Serivces. https://www.mida.gov.my/wp-content/uploads/2020/07/20200131123700_BOOKLET-15-MEDICAL-AND-HEALTHCARE-SERVICES.pdf. 27) The Edge Market. 2021. Stethoscope: Making the care economy equitable, sustainable and visible. https://www.dosm.gov.my/v1/uploads/files/5_Gallery/2_Media/4_Stats@media/1_General%20News/2021/11%20Nov/19%20Nov%20-%20General%202%20-%20the%20edge%20markets(1).pdf. 28) Government of Malaysia. 1998. Law of Malaysia, Act 506, Care Center Act 1998. http://www.commonlii.org/my/legis/consol_act/cca1993121/. 29) Government of Malaysia. 2008. Law of Malaysia, Act 685, Person with Disabilities Act 2008. https://www.ilo.org/dyn/natlex/docs/ELECTRONIC/86297/117930/F139356912/MYS86297.pdf. 30) Secretary General, Ministry of Economic Affairs. 2019. Shared Prosperity Vision 2030. https://www.epu.gov.my/sites/default/files/2020-02/Shared%20Prosperity%20Vision%202030.pdf. 31) Open Gov. 2019. Malaysia gets on-demand home caregiving services platform. https://opengovasia.com/malaysia-gets-on-demand-home-caregiving-services-platform/. 32) Code Blue. 2019. Existing Data On Disabled People In Malaysia Is Understated, Says UN Expert. https://codeblue.galencentre.org/2019/08/23/existing-data-on-disabled-people-is-understated/. 33) Norliza Saiful Bahry et al. 2019. Challenges Faced by Malaysian Parents in Caregiving of a Child with Disabilities. http://gatrenterprise.com/GATRJournals/GJBSSR/pdf_files/GJBSSRVol7(2)2019/2.Norliza%20Saiful%20Bahry.pdf. 34) Krishna Moorthy, et al. 2022. Gender Inequality Affecting Women’s Career Progression in Malaysia. https://vc.bridgew.edu/jiws/vol23/iss1/32. 35) World Bank. 2023. Malaysia Economic Monitor. Expanding Malaysia's Digital Frontier. https://documents1.worldbank.org/curated/en/099063502042320186/pdf/P179681008aa910db0bca9057d2dfa76bed.pdf. 36) United Nations. 2018. Building Disability‑Inclusive Societies in Asia and the Pacific. https://www.unescap.org/sites/default/files/publications/SDD%20BDIS%20report%20A4%20v14-5-E.pdf. 38) UN Department of Economic and Social Affairs. 2022. SDG Indicators Database. https://unstats.un.org/sdgs/dataportal/database. 39) W.A. Wan-Ibrahim and I. Zainab. 2014. The Availability of Family Support of Rural Elderly in Malaysia. http://www.idosi.org/wasj/wasj30(7)14/17.pdf. 40) WHO. 2017. National NCD Targets for Malaysia. https://extranet.who.int/ncdccs/Data/MYS_Malaysia_NCD_targets.pdf. 41) The Sun Daily. 2023. Need for affordable autistic childcare services. https://www.thesundaily.my/opinion/need-for-affordable-autistic-childcare-services-EB10667399. 42) M.B. Tracy & P.B. Tracy. 1993. Health care and family support systems of functionally impaired rural elderly men and women in Terengganu, Malaysia. https://pubmed.ncbi.nlm.nih.gov/24389755/. 43) Stephen Rocks, et al. 2020. Cost and effects of integrated care: a systematic literature review and meta‑analysis. https://link.springer.com/article/10.1007/s10198-020-01217-5. 44) UNDP. 2020. Care Work in the Time of COVID-19: Women’s Unpaid Care Burden in Four Charts. https://www.undp.org/malaysia/blog/care-work-time-covid-19-womens-unpaid-care-burden-four-charts. 45) Government of Malaysia. 2017. Private Aged Healthcare Facilities and Services Bill, Arrangements of Clauses. https://www.cljlaw.com/files/bills/pdf/2017/MY_FS_BIL_2017_35.pdf. 46) Homage. 2021. The Future of Aged Care Facilities: Improving Regulation and Quality of Care in Malaysia. https://www.homage.com.my/resources/the-future-of-aged-care-facilities-improving-regulation-and-quality-of-care-in-malaysia/. 47) Insights10 Research. 2022. Malaysia Home Healthcare Market Analysis. https://www.insights10.com/report/malaysia-home-healthcare-market-analysis/#:~:text=Market%20Executive%20Summary-,The%20Malaysia%20home%20healthcare%20market%20was%20valued%20at%20%24583%20Mn,reach%20%241074%20Bn%20in%202030. 48) Tax Reliefs. Inland Revenue Board Malaysia (IRB). 2023. https://www.hasil.gov.my/en/individual/individual-life-cycle/how-to-declare-income/tax-reliefs/ 49) Crunchbase. 2023. Homage. https://www.crunchbase.com/organization/homage. 50) Crunchbase. 2023. Doc2Home. https://www.crunchbase.com/organization/doc2us. 51) Crunchbase. 2023. Kiddocare. https://www.crunchbase.com/organization/kiddocare. 52) Companies Commission of Malaysia - Kiddocare Sdn Bhd Filings. 2023. https://www.ssm-einfo.my/member/index.php?id=uni 53) Companies Commission of Malaysia - My Care Concierge Sdn Bhd. 2023. https://www.ssm-einfo.my/member/index.php?id=uni 54) Companies Commission of Malaysia - Homage Sdn Bhd, 2023. https://www.ssm-einfo.my/member/index.php?id=uni 55) Government of Malaysia. Allied Health Professions Act 774, 2016. https://hq.moh.gov.my/nutrition/wp-content/uploads/2019/10/Akta_AHP_Akta-774.pdf 56) Government of Malaysia. Industry4WRD Policy. 2018. https://www.miti.gov.my/index.php/pages/view/4832 57) Government of Malaysia. Economic & Fiscal Outlook and Federal Government Revenue Estimates 2023. 2023. https://budget.mof.gov.my/pdf/belanjawan2023/ekonomi-fiskal/EUFORE2023_270223.pdf