Cloud based hospital information management solution (HIMS) provider, Insta Health has been acquired by Practo in a $12M deal. Practo aims to become the single destination for all your healthcare needs and this acquisition takes it closer to its vision.
Until now Practo has been providing Practo Ray, its solution for digitizing clinics and helping them become more efficient. However, the company realised that Hospitals being bigger had more departments and provided much more services than clinics. Hence to make Hospitals more efficient they needed a bigger HIMS.
Shashank, Founder of Practo also commented on this acquisition stating
In Insta, we found a great partner with fantastic product and a team with a passion and culture similar to ours. So we’ve decided to join hands and bring them onboard. Together we could build fantastic products that will help millions of consumers in hospitals get a superior experience.
The acquisition will help accelerate Practo’s Partner Program that is designed to enable HIMS providers around the world to integrate with Practo’s platform to provide consumers a seamless healthcare experience no matter which hospital they visit.
This acquisition brings to Practo a great product, a fantastic team and an expanded global customer base. The acquisition will provide an option to hospitals using Insta’s product to integrate with Practo’s platform and thus provide a superior healthcare experience to patients by enabling them to search and easily find information about doctor availability across hospital and departments, instant bookings, as well as no wait times or queues once they reach the hospital for their appointment. Patients will also be able to access all their health records after their discharge on Practo; either on the web or on the mobile app.
Insta will operate as a separate division and will continue to be led by Ramesh Emani, Founder & CEO, Insta Health.
This acquisition comes just a few weeks later when Practo announced a $90M Series C funding by Chinese investment holding company Tencent and others.
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