October 12, 2015
Practo Acquired HIMS vendor InstaHealth for US $12 million
Practo, the largest online healthcare platform in the country has acquired hospital management software provider InstaHealth solutions for a sprawling US $12 million. It is the firm’s third acquisition this year after Fitho, a fitness management platform and Genii, a product outsourcing company. Practo is backed by Tencent and Yuri Milner. Other investors include Google Capital, Sequoia Capital and Altimeter Capital.
Seven year old InstaHealth solutions provides software for hospital information systems. Their service is available in 15 countries across south east Asia, Middle east and Africa.
Insta will operate as a separate division under Practo, led by its founder Ramesh Emani, a former top executive at Wipro.
InstaHealth provides automated clinical, operational and financial processes such as scheduling, registration, outpatient and inpatient management, billing, electronic medical records (EMR), among other things, for hospitals.
Practo already has over 10,000 hospitals on its lists. The Practo products include the Practo ray- a practice management solution for doctors and Practo reach – a sponsored listing service for hospitals and clinics.
By integrating with the hospital management information systems provider InstaHealth it will now be able to directly tap business from hospitals.
Now the app will provide real-time view of a doctor’s availability to enable appointments and bookings.Thus, the patients will be able book appointments prior to their arrival at the hospital. The patients will also be able to access their medical records post discharge by using the Practo app.
With Insta Health Solutions on its side, Practo will now gain access to 500 hospitals across several countries which use the company’s hospital management software.
Practo aims at widening its spectrum to include fitness,wellness and preventative care with this acquisition of InstaHealth. To maintain its market dominance, Practo has plans to expand to ten countries including Brazil, Turkey, Mexico and Malaysia, by the end of the fiscal year.