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.

Go-Jek acquires LeftShift Technologies

Indonesian Bike hailing app Go-Jek has acquired Pune based app development company LeftShift Technologies Pvt. Ltd for an undisclosed amount to strengthen its product development efforts, making its fourth acquisition of an Indian firm.

It helped more than 200 companies design and develops mobile apps, including companies such as BookMyShow, Practo, OYO, Byju’s Classes, Airtel and Emerson. It also counted Go-Jek as one of its customers. The product development centre, which has about 60 employees now, comprises developers, data scientists, designers and product managers who work on mining data and delivering better experiences for consumers.

Go-Jek had earlier acquired Bengaluru-based home healthcare start-up Pianta in August. In February, the firm announced that it bought Bengaluru-based software engineering company C42 Engineering India Pvt. Ltd and Delhi-based development and operations company CodeIgnition Software Solutions Pvt. Ltd for engineering talent. These deals are so-called acqui-hires, which is jargon for an acquisition made to gain access to the employees of the acquired company.

Go-Jek offers stock options to the employees of its acquired companies that vest over four years. Go-Jek was started by Harvard graduate in 2011 and is the first Indonesian start-up to achieve the “unicorn” status after a $550 million funding round in August led by KKR and Warburg Pincus.

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. 

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.

Practo Acquires Fitho

Practo Technologies Pvt. Ltd., an online doctor booking portal had acquired Delhi-based health and fitness solutions firm Fitho Wellness Services Pvt. Ltd, which runs the Fitho Mobile app. Bengaluru based Practo is looking to launch services in preventive healthcare by the end of this year. This acquisition will provide it access to Fitho proprietary algorithm and recommendation engine, which will help expand Practo offerings.

Practo will launch a new preventive healthcare product that will leverage some of the technology from Fitho, whose service will phase out over the next six months. Practo raised $30 Million in a second round funding in February to fund its expansion in 35 cities in India and overseas.

Fitho was founded in 2010. The technology solutions help users manage weight and lifestyle diseases. The products provide personalized advice to millions of consumers on nutrition and physical activity. As the part of deal, Fitho current offerings will be phased out over the next six months and the founders will take on roles in preventive health and new segments.

Practo ray is a subscription based web software tool for doctors who provide automated appointment scheduling, storage of healthcare records including x-ray, files, prescriptions and billing. The company has 500,000 users of the mobile app which is 60% of the total user base. The overall Indian healthcare market today is estimated to be around $65 Billion. Healthcare delivery which includes hospitals, nursing homes and diagnostic centers, and pharmaceuticals, constitutes 65% of the overall market.