Doctor discovery platform Practo has acquired Insta Health Solutions, an end to end cloud hospital info management solution for $12 million. Insta Health will operate as a separate division led by Ramesh Emani, Founder & CEO of Insta Health.
The acquisition will provide Practo a global customer base along with the Insta Health product and its team. It will also provide an option for hospitals using Insta Health to integrate with the Practo platform, enabling doctor search, doctor availability, booking and health record access across Practo’s mobile app and web. Insta Health, on the other hand, said that it would benefit from Practo’s mobile technology and geographic and global presence.
Insta Health claims that is used by over 500 hospitals across 15 countries in Southeast Asia, the Middle East and Africa along with India and its clients include Cloudnine, Deepam Hospitals, MyDentist in India, DaVita in India and Malaysia, Skyline Hospital in Manila, NMC Group of hospitals in UAE and Karen Hospital in Kenya. It is used by standalone and clinic chains, hospitals and diagnostic labs to automate clinical, operational and financial processes like scheduling, registration, patient management, billing, e-medical records, insurance, lab equipment integration, inventory management among other features.
Expansion to Indonesia
Earlier this month, Practo entered the Indonesia market, launching its first product called Practo Search, available in Indonesian Bahasa and English. Practo said that consumers in Indonesia would be able to search for over 4,200 verified doctors in over 60% of all clinics across Jakarta DKI using the website or app, both of which had been built specially for the region. Practo would also expand its coverage to the broader Jakarta Raya area covering Bogor, Depok, Tangerang and Bekasi regions. In an earlier interview with MediaNama, Practo co-founder Shashank ND mentioned that the company was also looking at expanding to South Africa, Dubai and Brazil.
Last month, the company raised $90 million in a Series C funding round led by Tencent and Sofina with existing investor Sequoia Capital. Google Capital, Altimeter Capital, Matrix Partners and DST Global founder Yuri Milner also participated in the round. This round made Practo’s total funding at $125 million.
Genii acquisition, eyeing the enterprise segment
In July, Practo acquired Mumbai based product and development firm Genii for an undisclosed sum. The entire Genii team, including the founders, joined Practo in Bangalore. Practo planned to foray into the enterprise segment which would include hospitals and diagnostic centres. Practo claimed that it would expand the number of hospitals on its platform from 8,000 to over 20,000 by the end of this year.
Diagnostic centres search
In the same month, Practo added diagnostic centers to its platform which would allow users to search for medical test centers near them. Users would be provided accreditation information to determine the quality of the lab, check if home pickup facility is available, prices for different tests conducted by the lab, and photographs of the lab facility.
In April, Practo acquired digital fitness solution FitHo to start offering preventive healthcare solutions to its users. Shashank ND, cofounder and CEO of Practo, informed MediaNama that the FitHo deal was a cash plus equity deal, but did not reveal the size of the deal.