In July 2018, LeapFrog Investments invested in Ascent Meditech, an India-based manufacturer of orthopedic medical devices. The company produces over 400 healthcare products, including heat belts, braces, orthotics, bandages, wheelchairs, walkers, crutches and adult diapers.
With LeapFrog’s support, Ascent implemented a recruitment policy that advocated for hiring local people in its production facilities. About 37% of these employees are women. LeapFrog collaborated with Ascent’s management to create a supportive environment, including separate facilities for women, an on-site female doctor and a staffed daycare for childcare access. Ascent further engaged the community by sourcing local goods and services, organizing health camps and funding scholarships. Most of Ascent’s products, priced 30% lower than competitors, cater to low-income consumers, with 90% of sales reaching those living on under USD11.20 per day.