The medical tourism agencies industry in the U.S. offers patients opportunities to receive medical care abroad, often at a lower cost and with shorter wait times. This sector includes agencies that arrange travel and medical services for international patients, encompassing everything from cosmetic surgery to complex procedures. The industry is growing rapidly, fueled by advancements in healthcare quality overseas and rising healthcare costs domestically. Patients are increasingly seeking comprehensive solutions, such as package deals that include travel, accommodations, and post-care, making this a vibrant market ripe with potential and innovation.

This list highlights 13 key investors in medical tourism agencies, featuring a mix of private equity and venture capital firms headquartered in cities like New York and San Francisco. The investors vary in size, from smaller firms with a handful of employees to large organizations with thousands. Founded from 1976 through 2023, these investors collectively made a notable 422 deals in 2024. Their portfolios reflect a strong commitment to healthcare enhancements, which indicate a promising trajectory for investments in global medical services.

Top 13 Medical Tourism Agencies Investors in the US

1. Y Combinator

• Website: ycombinator.com
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2005
• Headcount: 51-200
• Number of deals in 2024: 802
• LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies, helping entrepreneurs launch and grow their businesses through structured programs, resources like the Startup School, and co-founder matching services. Y Combinator has successfully launched over 4,000 startups, making it a key player in the technology startup ecosystem. Among its notable transactions, Y Combinator has invested in Certainly Health, which raised $2.3M in funding to expand its team and improve its product, indicating a focus on healthcare solutions. Other investments include SafetyWing, which offers health insurance for travelers, and HelpNow, which provides health-related services. These transactions highlight Y Combinator's engagement in the healthcare sector, which is relevant to medical tourism agencies.

2. 500 Global

• Website: 500.co
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2010
• Headcount: 201-500
• Number of deals in 2024: 98
• LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. With a global focus, 500 Global has been involved in various sectors, including healthcare and medical tourism. Notably, they invested in Qunomedical, a digital health platform that raised $2 million to expand its services in the medical tourism market, and Meddy, a doctor booking startup in Qatar that raised $2.5 million in a Series A round. These transactions highlight 500 Global's commitment to supporting innovative startups that facilitate medical tourism and enhance healthcare accessibility across borders.

3. New Enterprise Associates (NEA)

• Website: nea.com
• Type: Venture Capital
• Headquarters: Menlo Park, California, United States (USA)
• Founded year: 1977
• Headcount: 51-200
• Number of deals in 2024: 57
• LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a prominent venture capital firm based in Menlo Park, California, founded in 1977. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. Notably, NEA has made significant investments in healthcare-related companies, including MORE Health, which raised a total of $54 million across three funding rounds (Series A, B, and C) from 2015 to 2018. This company focuses on healthcare services that can facilitate medical tourism by connecting patients with healthcare providers across borders. Additionally, NEA's investment in SafeRide Health, which raised over $2.7 million, further demonstrates their commitment to healthcare solutions that could support medical tourism initiatives. Overall, NEA's focus on healthcare innovation positions them as a relevant investor in the medical tourism agencies sector.

4. Deep Tech Fund (an Alumni Ventures Fund)

• Website: av.vc
• Type: Venture Capital
• Headquarters: Manchester, New Hampshire, United States (USA)
• Founded year: 2023
• Headcount: 51-200
• Number of deals in 2024: 258
• LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been active in various sectors, including healthcare-related investments. Notably, they participated in the Series B funding for battleface, a company that offers travel insurance solutions, which can be relevant for medical tourists. Additionally, their investment in SendaRide, a company that specializes in non-emergency medical transportation, highlights their engagement in the healthcare logistics space, further linking them to the medical tourism industry.

5. Silicon Valley Bank

• Website: svb.com
• Type: Venture Capital
• Headquarters: Santa Clara, California, United States (USA)
• Founded year: 1983
• Headcount: 5001-10000
• Number of deals in 2024: 31
• LinkedIn: silicon-valley-bank

Silicon Valley Bank is a commercial bank founded in 1983, specializing in providing financial services to the innovation economy, particularly tech startups and venture capital firms. With a focus on business banking, global payments, and asset management, they help clients navigate financial challenges and support their growth. In recent years, they have been involved in significant transactions within the healthcare sector, including a $63 million Series D investment in Nomad Health, a company that connects healthcare professionals with job opportunities, and a $330 million Series E investment in DispatchHealth, which provides in-home healthcare services. These investments highlight their commitment to supporting innovative solutions in healthcare, which is relevant to the medical tourism industry.

6. Goldman Sachs

• Website: goldmansachs.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1998
• Headcount: 10001+
• Number of deals in 2024: 59
• LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm founded in 1998, headquartered in New York, New York, USA. It provides a wide range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In recent years, Goldman Sachs has been involved in several significant transactions within the healthcare sector, such as the $72,792,245 raised by Medi Assist in a Post-IPO Secondary transaction in September 2024, which is relevant to medical tourism as it relates to health insurance and assistance services. Additionally, their investment in NMC Health and XIKANG further demonstrates their engagement in healthcare-related ventures, indicating a strategic interest in the medical field that could extend to medical tourism.

7. Gaingels

• Website: gaingels.com
• Type: Venture Capital
• Headquarters: Burlington, Vermont, United States (USA)
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 60
• LinkedIn: gaingels

Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm provides capital and support to startups, particularly those led by underrepresented groups, to foster diversity and inclusion in the innovation economy. Gaingels has been involved in various transactions, including a significant investment in Juno Medical, a healthcare firm that raised $12 million in a Series A funding round, and RoundTrip, which raised $5.14 million in Series A, focusing on patient transportation solutions. Their recent participation in the funding round for Ezra AI, an AI software developer, further highlights their engagement in the healthcare sector. These investments reflect Gaingels' commitment to supporting innovative solutions in healthcare, which is relevant to the medical tourism industry.

8. Kkr

• Website: kkr.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1976
• Headcount: 1001-5000
• Number of deals in 2024: 74
• LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored investment solutions to institutional and individual clients. The firm has made significant strides in the healthcare sector, with notable transactions including the acquisition of Ramsay Health Care Ltd. for approximately $15 billion, a move that underscores their commitment to expanding healthcare services. Additionally, KKR's investment of P35.3 billion in Metro Pacific Hospital Holdings through its Asian Fund III highlights their strategy to enhance healthcare infrastructure in the region. They have also engaged in funding rounds with Apollo Hospitals Enterprise, indicating a focus on supporting established healthcare providers. Furthermore, KKR's recent acquisition of the Family Doctor GP clinics chain for $300 million demonstrates their interest in general practice medical services, which is integral to the medical tourism landscape. Overall, KKR's diverse portfolio and strategic investments in healthcare make them a relevant player in the medical tourism agencies sector.

9. Liquid 2 Ventures

• Website: liquid2.vc
• Type: Venture Capital
• Headquarters: San Francisco, California, United States (USA)
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 91
• LinkedIn: liquid-2-ventures

Liquid 2 Ventures is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in investing in technology startups at the pre-seed and seed stages, as well as growth-stage companies. They provide capital, mentorship, and access to a vast network of industry insiders to help founders navigate their entrepreneurial journeys. In recent years, Liquid 2 Ventures has been active in various sectors, including healthcare. Notably, they invested in Mederva Health, which raised funds in a pre-seed round, indicating their interest in healthcare innovations. Other transactions include HelpNow and Aligned Marketplace, which, while not directly related to medical tourism, showcase their broad investment strategy in emerging technologies. Their focus on supporting exceptional founders positions them as a potential investor in the medical tourism agencies sector, particularly if opportunities arise that align with their expertise in technology and healthcare.

10. General Atlantic

• Website: generalatlantic.com
• Type: Private Equity
• Headquarters: New York, New York, United States (USA)
• Founded year: 1980
• Headcount: 501-1000
• Number of deals in 2024: 32
• LinkedIn: general-atlantic

General Atlantic is a private equity investment firm based in New York, specializing in growth equity. Founded in 1980, the firm provides capital and strategic support to entrepreneurs and growth companies across various sectors, including technology and healthcare. General Atlantic leverages its global network and expertise to enhance the growth trajectories of its portfolio companies. Notably, the firm has made significant investments in the healthcare sector, including a $130 million stake in KIMS Hospitals, which focuses on providing quality healthcare services. In 2024, General Atlantic acquired Ujala Cygnus, a healthcare provider, further emphasizing its commitment to the healthcare industry. Additionally, the firm invested up to $160 million in Hospitales MAC, aimed at expanding healthcare access in Mexico, which is particularly relevant for medical tourism. These transactions highlight General Atlantic's strategic focus on enhancing healthcare services, making it a relevant player in the medical tourism space.

11. Polaris Partners

• Website: polarispartners.com
• Type: Venture Capital
• Headquarters: Boston, Massachusetts, United States (USA)
• Founded year: 1996
• Headcount: 11-50
• Number of deals in 2024: 19
• LinkedIn: polaris-partners

Polaris Partners is a venture capital firm based in Boston, Massachusetts, founded in 1996. The firm specializes in healthcare and biotechnology investments, partnering with entrepreneurs to provide funding and strategic guidance to help them innovate and grow their businesses. Polaris has a diverse portfolio that includes companies focused on transformative healthcare solutions. Notably, they have been involved in significant funding rounds for Nomad Health, a company that raised $22 million in Series E funding in June 2024, and has raised over $200 million in total equity and debt financing since its inception. This focus on healthcare innovation positions Polaris as a relevant player in the healthcare investment landscape, which includes potential intersections with medical tourism.

12. Oxford Finance LLC

• Website: oxfordfinance.com
• Type: Corporate
• Headquarters: Alexandria, Virginia, United States (USA)
• Founded year: 2002
• Headcount: 51-200
• Number of deals in 2024: 2
• LinkedIn: oxford-finance-llc

Oxford Finance LLC is a financial services company based in Alexandria, Virginia, founded in 2002. The firm specializes in providing flexible lending solutions to middle-market companies, particularly in the life sciences and healthcare sectors. They offer a variety of financial products, including enterprise lending, leveraged lending, and real estate financing, aimed at helping businesses secure the necessary capital for growth and innovation. Notable transactions include a $50 million debt financing for Apollo Endosurgery, a company focused on minimally invasive surgical solutions, and a $250 million post-IPO debt for Silk Road Medical, which develops innovative surgical products. Additionally, they led a $190 million credit facility for Choice Health at Home, which indicates their active role in financing healthcare services. These transactions highlight Oxford Finance's commitment to supporting healthcare advancements, which can be relevant to the medical tourism industry.

13. Morgan Stanley

• Website: morganstanley.com
• Type: Venture Capital
• Headquarters: New York, New York, United States (USA)
• Founded year: 1986
• Headcount: 10001+
• Number of deals in 2024: 79
• LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. With a workforce exceeding 10,000 employees, the firm provides a wide array of services, including wealth management, investment banking, and capital markets. Morgan Stanley has a global presence and leverages its expertise to offer tailored financial solutions to individuals, families, corporations, and governments. In the context of medical tourism, Morgan Stanley has made notable investments in healthcare-related companies, such as Medi Assist, which raised $72.8 million in a post-IPO secondary round, and MedTrans Go, which secured $1.5 million in a seed round. Additionally, their investment in Narayana Hrudayalaya, which raised $27.5 million in a venture round, further emphasizes their commitment to the healthcare sector. Their participation in a $135 million Series E financing round for Elligo Health Research, aimed at enhancing healthcare research and technology, also highlights their strategic focus on healthcare innovation. These transactions illustrate Morgan Stanley's active role in the medical tourism and healthcare industries, making them a relevant investor in this space.

Medical Tourism Agencies Insights: Key Investors in the US

Investor	Headquarter	Size	Founded	Deals 2024
Y Combinator	San Francisco, California, United States (USA)	51-200	2005	802
500 Global	San Francisco, California, United States (USA)	201-500	2010	98
New Enterprise Associates (NEA)	Menlo Park, California, United States (USA)	51-200	1977	57
Deep Tech Fund (an Alumni Ventures Fund)	Manchester, New Hampshire, United States (USA)	51-200	2023	258
Silicon Valley Bank	Santa Clara, California, United States (USA)	5001-10000	1983	31
Goldman Sachs	New York, New York, United States (USA)	10001+	1998	59
Gaingels	Burlington, Vermont, United States (USA)	11-50	2015	60
Kkr	New York, New York, United States (USA)	1001-5000	1976	74
Liquid 2 Ventures	San Francisco, California, United States (USA)	1-10	2015	91
General Atlantic	New York, New York, United States (USA)	501-1000	1980	32
Polaris Partners	Boston, Massachusetts, United States (USA)	11-50	1996	19
Oxford Finance LLC	Alexandria, Virginia, United States (USA)	51-200	2002	2
Morgan Stanley	New York, New York, United States (USA)	10001+	1986	79

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