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Portea Medical acquires majority stake in doctor aggregator PSTakeCare


Portea Medical has acquired a majority stake in doctor aggregator platform PSTakeCare in an all cash deal reports Mint. The companies did not reveal further details about the deal. Post this deal, PSTakeCare will expand its services from few areas of Mumbai to other metro cities.

Founded by Pratik Chinchole, Rahil Momin and Anup Raaj, PSTakeCare will remain as a separate entity post acquisition. The platform currently lets users search for doctors nearby based on the service/speciality, hospital or doctor name and book an appointment. Interestingly, the company provides its results overlaid on Google Maps, making it very clear how far users are from the doctor’s location. Users can manipulate the circular area within which they see doctors, and drag it around on the map to center around a different location.

MedybizPharma acquisition: In November, Portea acquired MedybizPharma for an undisclosed amount in an all cash and stock deal. The company said then that the acquisition would help it establish a specialised pharma arm to deliver care to patients with chronic conditions.

Portea funding: In September, Portea raised $37.5 million in a Series B round of funding led by existing and new investors. At the time the company mentioned it would use the funds for expanding to other cities in India, hiring, technology and to expand further in Malaysia. Prior to this, it had raised Rs 48 crore ($8 million) in 2013 and from Qualcomm Ventures, which made the strategic investment in July last year.

Founded by Zachary Jones and Karan Aneja in 2012, Portea Medical was acquired by husband and wife duo Krishna and Meena Ganesh in July 2013. As of now, the platform operates in 25 cities in India including Bangalore, Chennai, Delhi, Mumbai, Pune, Goa etc., as well as four cities in Malaysia. It claims to process 2,000 visits to patient homes, although it does not mention how many of these actually use the service.

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Developments in online healthcare:

– Earlier this month Care24, an online company which provides services of nurses, physiotherapists and attendants at home, raised $4 million.

– In October, doctor discovery platform Practo expanded to Malaysia. In September, it acquired Insta Health Solutions for $12 million. Note that Practo had raised $30 million in funding in February this year and also acquired the product dev firm Genii in July.

– In August, former iGate CEO Phaneesh Murthy launched his new health exchange startup, Zigy.com.

– In July, 1mg launched a doctor search and appointment booking app called Doctors by 1mg, while doctor directory and clinic management system Lybrate raised $10.2 million.

– Doctor search & appointment booking platform Qikwell had raised Rs 18 crore in Series A funding from SAIF Partners in November last year.

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