Practo buys Enlightiks

Healthcare services platform Practo Technologies Pvt. Ltd, has acquired Enlightiks Business Solutions Pvt. Ltd, a healthcare analytics solutions firm, in a cash and stock deal.

Established in 2012, with offices in Bengaluru and Charlotte in the US, Enlightiks owns a predictive clinical and computational platform called Querent and uses big data analytics to provide business intelligence to healthcare providers. Last year, Practo acquired Insta Health Solutions and Qikwell Technologies Pvt. Ltd. With this portfolio of software products, it completes the suite for healthcare providers.

Practo has been among the most active buyers among large Indian start-ups. Apart from Enlightiks, Qikwell and Insta, it acquired FitHo, a fitness management platform and product outsourcing firm Genii. Its acquisitions, especially Qikwell and Insta, have not only helped the company enter the enterprise segment—hospitals and clinics—but also opened additional revenue streams for the company.

Enlightiks deploys machine learning and deep learning to service more than 250 hospitals and clinics, which predominantly use its business intelligence service, while some of the clients use predictive analytics to augment revenue and streamline operations. Practo currently claims to aggregate 2 lakh doctors, 10,000 hospitals, 8,000 diagnostic centres and 4,000 wellness and fitness centres in India, Brazil, Philippines, Malaysia, Indonesia and Singapore.

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.

Practo acquires Insta Health

India’s largest online doctor discovery company Practo Technologies Pvt. Ltd has acquired Hospital information management solution provider Insta Health Solutions for $12 Million. It is Practo third acquisition after fitness solutions firm FitHo and product outsourcing firm Genii in the past six months.

The acquisition opens up an additional revenue stream for Practo and helps the company expand its presence among hospitals. The company at present generates revenue from Practo Ray, a doctor facing practice management software sold as a subscription based, software as a service product, and Practo Reach, a sponsored listing service for hospitals and clinics. Listing on Practo is free for products, while the company does not charge consumers for searches.

With this acquisition, Practo now gets access to more than 500 hospitals across 15 countries, including in Southeast Asia, West Asia and Africa, which use the company information management software. This adds on to Practo repertoire of software products for medical establishments. Insta Health Solutions will continue to operate as a separate entity.

Practo claims to facilitate 10 Million searches every month. There are more than 200,000 doctors, 5,000 diagnostic centres and 10,000 hospitals listed on its platform. To maintain its market dominance, Practo is making acquisitions and launching several products in new business. It is also fast expanding in International Markets and plans to expand to 10 countries. The company has also raised about $125 Million since its launch in 2008.