1mg-ours

Digital health company 1mg has acquired MediAngels, a business which allows super-speciality healthcare consultations with patients getting access to doctors across 93 specialties, such as cardiology, cancers, seurosurgery, orthopedics and pediatric subspecialties. The amount being paid for the acquisition has not been disclosed by the company, but 1mg has the funds: it raised $15 million in April, and then-some-more in May.

MediAngels was founded in 2011 by Dr Arbinder Singal and Dr Debraj Shome, with Dr Singal, a Pediatric urologist leading B2B development for the business. MediAngels claims a base of 450 super specialist doctors, and allows patients to submit queries, consult doctors, as well as consult multiple doctors. Apart from this, 1mg will get an entry into the corporate health space with this acquisition, with its suite of services including “ePharmacy, eDiagnostics, eConsultations and Super Speciality Second Opinions”, according to a note sent by the company, which mentions that “With rising healthcare costs and higher percentage of people under insurance coverage, the enterprises saw it fit to take second opinion at MediAngels for auditing and understanding if surgery / hospitalisation is required.” The company intends to “scale up second opinions and drive B2B engagements with more insurers and corporates.”

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Booking is turning out to be a key focus for the company: in June this year, it acquired Medd.in, a platform which allows users to book diagnostic imaging tests. It is expanding beyond its e-pharmacy mandate. The worlds of Practo and 1mg are colliding: at the beginning of this year, Practo began allowing users to order medicines, and it also allows doctors to give online consultations. Only a matter of time before 1mg gets its own version of Practo Ray?