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Practo acquires product dev firm Genii; to launch in enterprise segment

diagnostics

Doctor discovery platform Practo has acquired Mumbai based product and development firm Genii. The entire team of Genii, including the founders, will join Practo in Bangalore. The financials of the deal were not disclosed.

Practo plans to foray into the enterprise segment which will include hospitals and diagnostic centres. Practo claims that it will expand the number of hospitals on its platform from 8,000 to over 20,000 by the end of this year.

Genii specialised in product outsourcing for ecommerce portals, SaaS platforms across industries and claimed to have clients in Axis Bank, Economic Times, HDFC Red and Mediassist among others. Practo, on the other hand, claims to have over 150,000 verified doctors across 35 cities along with 4,000 labs in 8 cities and plans for expanding to 35 cities.

Diagnostic search: Earlier this week, 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.

FitHo acquisition: 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. He also mentioned that besides the founders, the other members of the FitHo team would also be joining Practo. Shashank said that this acquisition would not only allow Practo to diversify their offerings, and enter the preventive healthcare space, it would also help with user acquisition.

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It’s worth noting that, earlier this year, Shashank had told Medianama that they were working towards offering users a patient health record management solution and were interested in telemedicine. He said that Practo would look at acquiring services or products that complemented their offerings.

Sequoia and Matrix funding: The company had raised $30 million from existing investor Sequoia Capital, with participation from Matrix Partners in February this year. At the time, Practo had said the funds would be used to expand to 35 more cities in India over the next six months and for hiring.

Image Credit: Flickr user MdAgDept

Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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