Practo acquires Genii

Online doctor discovery platform Practo Technologies Pvt. Ltd. has acquired Mumbai based product outsourcing firm Genii to strengthen its technology infrastructure. The acquisition comes amid Practo gearing up to enter the enterprise segment, with the launch of new products for hospitals and diagnostic centres.

Genii, founded in 2011 had raised $100,000 from angel investors. Practo will look for multiple acquisitions in the next 12 months to accelerate growth. It will look at acquisitions for innovative products and technology, talent and increasing customer base. At present, Practo generates revenue from Practo ray, a doctor facing practice management software sold as subscription based software as a service product.

The company does not charge doctors and patients for listing and booking appointments on its consumer facing platform Practo.com but hosts advertisements from hospitals and clinics on the website. Founded in 2008, Practo has so far raised $34 Million from Sequoia Capital, Matrix Partners and InnoVen Capital. Genii, is the second company acquired by Practo. In April, the company had acquired FitHo, a web and app-based fitness management platform, to enter the preventive healthcare segment.

Practo plans to expand to 10 countries across South East Asia, West Asia, Latin America and Eastern Europe by the end of the year. The firm claims to have on board about 5000 doctors in Singapore and about 11,000 doctors in Philippines. Other prominent firms in this segment are Lybrate, Ziffi, Qikwell, and Helping Doc. Lybrate Inc. announced that the company has raised $10 Million from Tiger Global and Nexus Venture Partners.