Mumbai-based Madhyam corporate services Ltd which has business interests in media and healthcare, said on Tuesday that it has acquired the Diet Health Tech Startup Alivemeter for an undisclosed amount.
Alivemeter’s platform of dieticians and customers that provides cost effective diet plans with rigorous monitoring will be a synergistic addition to our tech enabled preventive healthcare infrastructure, said Mr S K Sharma director – Madhyam corporate public ltd
Alivemeter was founded in early 2016 by Tanushri Guin (Read our Featured Story), a marketing veteran who has worked earlier with large corporate firms such as Times of India, Zee and India today.
“Alivemeters’ robust technology platform along with network partnerships which includes over 70 fitness centres, Healthspring and insurance companies helps dieticians and nutritionists to scale business. We believe that with elements of AI to be added, it will greatly add value to condition management programs that we currently offer to Corporates and Health Insurance firms. Our businesses spread across east and north India & recent expansion in Singapore will augment Alivemeter to increase its consumer base at the same time help us providing an integrated solution to our consumers.” Said Mr Sharma.
“There is an urgent need for greater transparency in India’s diet and fitness business. Madhyam has been doing great work in parts of India in preventive healthcare & condition management. It is also working very closely with central and state governments, schools & corporates providing health solutions to employees which in return will help them to improve productivity. I am sure the team would take Alivemeter to higher levels of growth. said Tanushri, Co-Founder & CEO of Alivemeter.
With growing technological advancements, the Indian healthcare sector has seen a rapid transformation especially in online healthcare platforms (OHP) that have emerged to ‘democratize’ the healthcare system.
Health-related mobile applications and technologies are often known as mHealth and manage the patient experiences.
According to a report, the global mobile health (mHealth) app market is projected to be valued at US$28.320 billion in the year 2018 and is expected to reach US$102.35 billion by 2023, growing at a CAGR of 29.30% during the period.
It may be recalled that, earlier this month, tech giant Google had acquired Seattle-based health monitoring startup Senosis Health, which was founded by Indian-origin Professor Shwetak Patel along with four others.
Prior to this, in last month, LeapFrog Investments, an investor in companies that deliver healthcare and financial services for emerging consumers, has acquired a majority stake in Ascent Meditech, a Mumbai-based Consumer health tech company which own and operate market-leading Flamingo brand.
In August last year, emids, a global provider of IT services and solutions for the healthcare and life sciences industries, had made an acquisition of Encore Health Resources, a leading healthcare information analytics company focused on value-based care and electronic health records for providers.