Equity governance for clinics, diagnostics & healthtech
Licensed practice, patient data, and multi-founder clinical partnerships - where governance has to satisfy both investors and medical regulators.
Clinical partners, not just co-founders.
Healthcare ventures often start as a partnership between a clinician and a business co-founder - two very different kinds of "sweat equity" that founders' agreements rarely price correctly. Licensing, patient data handling, and medical council rules add obligations a standard startup never faces.
EGF structures the equity split around actual roles - clinical, operational, and capital - so the agreement matches reality from day one.
founders are common - a practicing clinician plus an operating/business partner
clinical establishment and pollution control approvals often precede full operations
patient data handling brings privacy obligations beyond standard corporate compliance
multi-city expansion often means holding-company and franchise-style structuring
Single or multi-location practices needing per-site clinical establishment registration.
Remote consultation platforms navigating medical council rules on digital practice.
Drug development and manufacturing businesses under Central and State drug licensing regimes.
Device manufacturers subject to CDSCO approval before commercial sale.
Platforms distributing or administering health insurance, layered under IRDAI rules.
Studios and platforms with lighter licensing but frequent franchise/multi-location equity questions.
From clinic to chain - the record stays intact.
Start, Grow or Scale - the framework covers this industry at every stage.
Company law, plus clinical registrations.
SPICe+ filing, MOA/AOA, PAN/TAN allotment.
State-level registration under the Clinical Establishments Act (or equivalent state law).
Biomedical waste authorization and pollution control board consent, where applicable.
AOC-4, MGT-7, alongside periodic clinical licence and registration renewals.
Where healthcare ventures actually get stuck.
A clinician-founder's contribution was never formally valued against the operating partner's.
Each new location needs its own clinical registration - often missed during rapid expansion.
Verbal agreements between clinical partners rarely survive a funding round's diligence.
Data-handling obligations discovered only once an investor's legal team asks about them.
Healthcare founders ask us this.
We document it explicitly in the founders' agreement - typically a blend of sweat equity vesting tied to clinical hours/patient volume, and cash-based equity for the operating partner, rather than an arbitrary 50/50 split.
Yes - clinical establishment registration is location-specific under most state Clinical Establishments Acts. Each new site needs its own registration before opening, which we track on your compliance calendar.
Generally yes, subject to medical council rules on professional practice and advertising. We structure the shareholding and role split so it doesn't conflict with professional conduct regulations.
Most chains move to a holding-company structure once they cross 3–4 locations, so each clinic can carry its own licensing and liability while equity stays consolidated at the top.
Beyond standard cap table and agreement checks, we verify that partnership terms between clinical and business founders were ever formalized - the single most common gap we find in this sector.
Building a healthcare or life sciences venture? Let's get the partnership right.
One conversation is enough to scope the engagement.
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