Practo is growing by leaps and bounds. Days after the online healthcare platform announced that it was expanding into Indonesia, the company has acquired hospital information management company Insta Health for $12 million (Rs 80 crore) as it looks to rapidly expand its footprint of doctors and users across the globe.
The deal, which was a mix of cash and equity, will see 100 employees of Insta Health join Practo. Insta Health is the third acquisition by Practo after Fitho and Genii.
— Shashank ND (@shashanknd) September 14, 2015
Insta was a part of the Practo Partner Program that aims to enable hospital information management solutions. “While working together we realised that by coming together we can create a better healthcare experience,” said Shashank ND, Practo Founder and CEO. While there are organisations that provide software solutions to hospitals, Insta provides a scalable product, he added. With this deal Practo has got the access of Insta Health’s key customers across 15 countries, among with are NMC Group of Hospitals in UAE, DaVita in India and Malaysia, Skyline Hospital in Manila, Deepam Hospitals, MyDentist, and Cloudnine in India and Karen Hospital in Kenya. Insta was a part of the Practo Partner Program that aims to enable hospital information management solution
Insta Health was founded by Wipro’s former chief technology officer Ramesh Emani, and Emani will lead and run Insta Health as a separate division under seven-year-old Practo. Insta is used by clinics (both standalone and chains), hospitals and diagnostic labs for automating their clinical, operational and financial processes such as scheduling, registration, out-patient and in-patient management, billing, electronic medical records (EMR), ward and bed management, diagnostics, advanced insurance and lab equipment integration, operation theatre, pharmacy and inventory management, specialty modules like dental, dialysis, IVF, Paediatrics and so on.
Earlier Practo partnered with hospitals one-by-one. “Now they can open the Practo platform to 500 hospitals in one shot”, said Shashank. The platform currently has access to 10,000 hospitals worldwide.