Practo Technologies, one of the leading healthcare service providers, has announced that it has acquired Enlightiks Business Solutions, a healthcare analytics solutions firm, in a cash and stock deal.
While the company has confirmed the deal to LiveMint, it has not yet revealed the financial details of the deal. The team of around 50 engineers at Enlightiks will be absorbed into Practo. Shashank N.D., chief executive of Practo, said,
We sell marketing solutions and software to enterprises. IOur system helps a chain of hospitals click on its profit and loss at a unit level, department level and procedure level also. They can figure out if one of the variables increases, say doctor’s fees increases by 15%, how will it impact margins, etc.
All of those are automatically donen the second bucket, Enlightiks becomes one of the most important products. Last year, we acquired Insta Health Solutions and Qikwell Technologies Pvt. Ltd. With this portfolio of software products, we complete the suite for healthcare providers.
Enlightiks was founded in the year 2012 and has a presence in Bengaluru and Charlotte, US. It was started by IIT-Kharagpur alumnus Vamsi Chandra Kasivajjala, along with Shilpa Peri, Venkatesh Pagidimarri, Bas Nair, Shaunak Joshi and Sunil Kondala. The company owns a predictive clinical and computational platform called Querent and uses big data analytics to provide business intelligence to healthcare providers.
Talking about the acquisition, Vamsi Chandra Kasivajjala, the founder of Enlightiks, said,
Our system helps a chain of hospitals click on its profit and loss at a unit level, department level and procedure level also. They can figure out if one of the variables increases, say doctor’s fees increases by 15%, how will it impact margins, etc. All of those are automatically done.
Practo has been actively acquiring start-ups in order to strengthen its position in the sector and to grow its business. Before Enlightiks, it acquired Qikwell and Insta Health. It has also acquired FitHo, a fitness management platform and product outsourcing firm Genii.
It currently claims to aggregate 2 lakh doctors, 10,000 hospitals, 8,000 diagnostic centers, and 4,000 wellness and fitness centers in India, Brazil, Philippines, Malaysia, Indonesia and Singapore. In the year that ended on 31st March, Practo clocked revenue of Rs. 165.14 crore as against Rs. 29.73 crore a year earlier. Net sales of the company stood at Rs. 156 crore while losses climbed to Rs. 64.61 crore from Rs. 12.85 crore a year earlier.
