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 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.