India’s leading health-tech startup Practo has announced today that it has acquired cloud based hospital information management company Insta Health for $12 million. Seven-year-old Insta Health was founded by Wipro’s former chief technology officer Ramesh Emani.
The deal, which was a mix of cash and equity, will see 100 employees of Insta Health join Bengaluru-based Practo. Insta will operate as a separate division and will continue to be led by Ramesh Emani who is currently CEO of Insta Health.
Insta Health powers hospitals across 15 countries in India, South East Asia, Middle East and Africa. Some of Insta’s key customers are Cloudnine, Deepam Hospitals, MyDentist in India, DaVita in India and Malaysia, Skyline Hospital in Manila, NMC Group of hospitals in UAE, Karen Hospital in Kenya and many more.
With Insta Health acquisition Practo will also have a real-time view of a doctor’s availability to enable appointment bookings across 500 hospitals that use Insta Health’s product. “Earlier we partnered with hospitals one by one, now we can open the Practo platform to 500 hospitals in one go,” said Shashank ND, CEO, Practo.
Practo which has recently raised $90 million in Series C round of funding, has so far made four acquisitions including this one. In April this year, the company acquired FitHo, a Delhi-based digital fitness solution firm, thereafter it acquired Genii Technologies, a Mumbai-based product design and development firm, followed by acquisition of QikWell, a doctors appointment booking service, earlier this month.
Moreover, Practo has recently expanded its operations in the Philippines. It also begun selling its proprietary cloud-based health-care management solution ‘Practo Ray’ in Philippines market.