Practo, India’s (and globally) largest online doctor discovery platform, has acquired a hospital information management solution provider – Insta Health Solutions for $12 million. This is the company’s third acquisition in the past 6 months.
As a part of the mixed – cash and stock deal, over 100 employees of the company will join Practo. With this acquisition, the company will now have a deeper presence in hospitals and will be able to generate additional revenue streams. Insta Health is currently used by over 500 hospitals.
Now, along with enabling users to search for doctors on it’s portal, the company will be able to show them their medical history as well. It will also be able to provide real-time information about doctor’s presence.
Founded in 2008 by Wipro’s former Chief Technology Officer Ramesh Emani, the company has presence in 15 countries across South East Asia, Middle East and Africa. Insta Health is like an ERP for hospitals which allows them to automate their clinical, operational and financial processes.
Shashank ND, CEO of Practo, said,
Earlier we partnered with hospitals one-by-one. Now we can open the Practo platform to 500 hospitals in one shot.
This is the third of several acquisitions we’ve been evaluating as we continue our mission to help simplify and digitise healthcare around the world and make Practo your health app.
The acquisition will help us drive better customer experience not only in scheduling appointments but optimize usage of hospital beds, in-patient management and operation theatre. Patients will also be able to access all their health records post their discharge on either the web or the mobile app.
Practo was founded in 2008 by Abhinav Lal and Shashank ND. It enhances patient experience by revving-up clinics across India with simple, technology products. On its portal, patients can find doctors online in just a click.
Its ﬁrst offering, Practo Ray is an easy-to-use online practice management software for doctors and currently helps 8,000+ doctors treat 3 million patients across India while Practo Hello provides telephony solution, which has redefined the way doctors connect with their patients.
Till now, the company has raised $124 million in 3 funding rounds from 7 investors – Sequoia Capital, Matrix Partners, Yuri Milner, Sofina, Google Capital, Altimeter Capital, and Tencent Holdings.