Practo acquires Qikwell

Practo Technologies Pvt. Ltd, India’s largest doctor discovery platform, has acquired smaller rival Qikwell Technologies Pvt. Ltd, for an undisclosed amount in a cash and stock deal. This is Practo fourth acquisition in six months. Practo tries to penetrate deeper into the enterprise segment, especially hospitals.

With this acquisition, Practo now aims to service 40 Million appointments every year. Founded in 2011, Qikwell is backed by SAIF partners with an investment of Rs. 18.3 crore. The Bengaluru based technology start up is a doctor discovery platform that offers real-time appointment bookings. The company currently has over 6,000 doctors listed on its platform.

It has employee strength of more than 100 people and has branches in Chennai, Hyderabad, and Delhi. It plans to expand to Mumbai, Pune and Kolkata in the coming months. Qikwell is Practo fourth acquisition in six months. In April, it acquired FitHo Wellness Services Pvt. Ltd. It also bought Mumbai based Genii to strengthen its technology infrastructure last month. Two weeks ago, Practo acquired Insta Health Solutions.

Practo recently raised $90 Million from Tencent, Belgian venture capital firm Sofina, Sequoia Capital Global Equities, Google Capital, Altimeter Capital and Yuri Milner and existing investors Sequoia India and Matrix Partners. The company has raised $125 Million since its launch in 2008. The $90 Million round is the biggest for a domestic healthcare startup.