Practo Technologies Pvt. Ltd, a web-based clinic management software developer, has today announced the acquisition of US-based advanced analytics firm Enlightiks Inc. and its Indian operations in a cash-and-stock deal.

The deal, which details the acquisition of Bengaluru-based Enlightiks Business Solutions Pvt. Ltd, an advanced analytics platform offering business intelligence solutions to healthcare enterprises, is valued at Rs 92 crore (about US$13.9 million).

Post acquisition, the entire 50 member team of Enlightiks will join Practo and form part of an analytics business unit within the company. The unit is said to be headed by Enlightiks co-founder and CEO, Vamsi Chandra Kasivajjala.

This is Practo 5th acquisition till date and its 3rd in the enterprise space. In 2015, the company has acquired four companies – hospital information management solution provider Insta Health for US$12 million, hospital appointment scheduling firm Qikwell, a web and app-based fitness management platform FithoWellness as well as product outsourcing firm Genii.

The primary offering for Enlightiks comes through its proprietary business intelligence and predictive analytics platform – Querent which provides actionable insights for healthcare providers using complex mathematical, statistical, computational and cognitive models.

“This brings Practo closer to its vision of simplifying healthcare by providing end-to-end solutions for the entire eco-system,” said Shashank ND, the Founder & CEO of Practo. “With Querent, we will be able to help CXOs make their enterprises run more efficiently which should improve the overall quality of care while making it more affordable.”

Enligtiks was co-founded in 2012 by Shilpa Peri, Venkatesh Pagidimarri, Dr. Bas Nair and Vamsi Chandra Kasivajjala. The founding team was later joined by Shaunak Joshi and Sunil Kondala.

Their business intelligent solution Querent is capable of providing accurate predictions for key business metrics which will aid enterprises in proactive decision-making that can help create a positive impact on short to medium term business actions.

Besides, the platform also has an ability to read both structured and unstructured information and apply advanced machine learning and deep learning techniques to uncover hidden insights. Querent also facilitates visual interpretation of the collected information in order to generate useful insights for healthcare enterprises across various departments including operations, finance, quality, pricing, marketing, customer management and risk assessment.

More than 200 healthcare centers including hospitals and clinics across the nation are currently using this platform. The list of clients includes names such as Apollo Sugar Clinics Ltd, Kokilaben Dhirubhai Ambani Hospital, Inamdar Multispecialty Hospital, Fernandez Hospitals Pvt Ltd, Eye-Q Vision Pvt Ltd, Sparsh Sandor Nephrocare Services Pvt Ltd, Ramesh Hospitals and more.

While founded in 2008 by Shashank ND and Abhinav Lal, Practo is one of the most well-funded healthcare startups in the country whereby the company has more than US$120 million in funds.

The company raised $90 million in August 2015 through a Series C funding led by Chinese media and technology conglomerate Tencent Holdings Pvt Ltd. It raised $30 million in a Series B round from Sequoia India and Matrix Partners in February 2015. While in 2012, Practo had raised $4.6 million from Sequoia Capital in a Series A funding round.

The firm helps patients book appointments with doctors online and also enables doctors in primary clinics and hospitals to manage patient records under a software-as-a-service (SaaS) model. Practo also facilitates online delivery of medicines, e-consultation and beauty and wellness products.

Commenting on the M&A, co-founder of Enlightiks, Vamsi said “Enlightiks is thrilled to join Practo. We share the same passion for democratising healthcare access for billions of people where business intelligence and analytics are critical.”

“We chose Practo so that we can collaborate and work towards offering superior, comprehensive and integrated solutions for healthcare providers. I look forward to working with Shashank and the Practo team in realising our shared vision of transforming healthcare,” he adds.

By Vivian Foo, Unicorn Media

Online pharmacy 1mg Technologies Pvt. Ltd has acquired Mumbai-based MediAngels (Angels Health Pvt. Ltd), an online hospital for an undisclosed sum in cash and stocks to strengthen its position in India’s eHealth space.

At the start, 1mg operates an online marketplace for medicines, besides facilitating medical appointments and diagnostic test bookings. But with its acquisition of MediAngels, it has also forayed into specialty doctor consultations, corporate health services, and insurance partnerships.

“Our consumers can now access a deep network of over 450 specialists across India and the world, and we also get an entry into the corporate health space through this platform,” said 1mg’s co-founder Prashant Tandon in a statement on Wednesday.

“We now offer services to consumers as well as corporate customers which include ePharmacy, eDiagnostics, eConsultations and Super Speciality Second Opinions as well,” he adds.

1mg, earlier known as HealthkartPlus, was the generic drug search business of Healthkart, an online vendor of health products run by Bright Lifecare Pvt. Ltd. In April 2015, HeartkartPlus was rebranded and spun off into a separate entity now known as 1mg.

On the other hand, MediAngels.com was founded in 2011 by super-specialist doctors, Dr. Arbinder Singhal and Dr. Debraj Shome with the purpose of bringing topmost super-specialist doctors within everyone’s reach using technology.

Fast forward to today, the company has established itself as a platform for patients to seek online consultations for specialized medical cases in cardiology, cancer, neurosurgery, orthopedics, and pediatrics, among other areas, from its network of doctors covering 93 specialties.

Also a business-to-business (B2B) service, MediAngels was used extensively by insurers and corporates who enroll for second opinions and employee health benefits. Insurers, for instance, can use the platform to consult doctors and ask whether a given patient should undertake a surgery or not.

MediAngels, which consist a team of 12 people, will continue to build the doctor network and B2B health services for the corporate users in Mumbai led by Singhal, said Tandon. 1mg, with this acquisition, will see its employee strength being increased to 301.

Commenting on the acquisition, Dr. Arbinder Singal of MediAngels said, “The time is right for eHealth platforms to serve the basic need of every Indian to complete the cycle of healthcare for the consumer at a click.”

“Within 1mg ecosystem, we plan to scale up second opinions and drive B2B engagements with more insurers and corporates. Our robust technology tools will help them optimize employee benefits spends on healthcare and to have a healthier workforce,” he adds.

This makes the second acquisition for 1mg in 2016 as in July, the Sequoia-backed company has acquired Medd.in, a booking platform and marketplace for diagnostics and imaging tests for an undisclosed amount.

This acquisition came two months after 1mg has raised INR 100 crore (about US$ 15 million) in a Series B round led by Maverick Capital Ventures and existing investors Sequoia Capital and Omidyar Network.

According to the Prashant Tandon in a statement, 1mg at present has 30 to 40 pharmacies across 13 cities that fulfill medicine orders. In the next six to nine months, the company plans to expand it to 30 cities.

On top of that, the company also has ambitions to roll out subscription services for patients with chronic health issues such as diabetes, blood pressure, among others.

By Vivian Foo, Unicorn Media

Singaporean impact travel company Triip.me and Booking.com have announced a strategic partnership to bring forth an integrated tour and lodging experience.

The collaboration is set to give traditional lodging access for the first time to truly indie and unique local experience offerings that will be slated in early 2017 at hotels around the world, the company announced on December 13.

“This is not just a simple API integration,” said Ho Viet Hai, the CEO of Triip. “Rather, our product team is executing on a vision to make travel and tour booking more seamless.”

Ho Viet Hai also noted the incidence of increasing Indie travellers shifting back to hotels from Airbnb and other platforms, while still demanding a unique local experience.

“We asked a very simple question: How to make traditional lodging more Indie? Our answer was to give travellers best-price guarantees on lodging while also staying true to Triip’s vision of providing authentic local experiences at the same time,” he adds.

The solution was the partnership formed between Triip.me and Booking.com which leveraged on the networks pairing Triip’s inventory of over 6000 local guides in 660 cities with Booking.com’s 1,073,647 properties in 227 countries.

Under this partnership, Triip’s new booking practice will also offer frequent travellers the lowest rate on hotel rooms, free international phone access through Flexiroam, as well as honoring travellers’ reward status achieved on other websites.

However, Mr.Ho emphasises that the venture was not a direct competitor to Airbnb or other similar marketplaces, saying that “We do not see ourselves as a direct competitor to platforms such as Airbnb. Instead, we see ourselves as an enhancement to traditional lodging.”

Targeting avid super travellers, Triip’s new booking experience will be especially useful to those who travel constantly both for businesses and lifestyle purposes.

“Now that we’re building the product, we’re seeking partnerships with any hotels around the world interested in having a more hands-on approach to the bookings we’ll be sending them, and also getting the word out to super travelers so we have sufficient early adopters to optimize the experience.” concluded Mr. Ho

Founded in 2013 by Ho Viet Hai and Lam Thi Thuy Ha, who had been in the tourism industry as a tour guide herself, Triip initially allowed Vietnamese people to curate their own tours to offer to travelers. The company is currently present in almost 100 countries.

Triip is backed by Gobi Partners and is, as a matter of fact, the Shanghai-based VC firm’s first investment in Vietnam. In February 2016, Gobi Partners has invested US$500,000 in seed funding to the travel platform which links travellers with knowledgeable locals.

By Vivian Foo, Unicorn Media