Practo Acquires Insta Health For $12M
Practo, India’s leading Doctor discovery and appointment platform has acquired Insta Health solutions, a cloud based end to end hospital information management solution (HIMS) for $12 million or roughly INR 78 crore rupees. Insta Health’s solution is currently implemented in over 500 hospitals across 15 countries and geographies including India, South East Asia, Middle East and Africa.
Insta Health’s clientele includes Cloudnine, Deepam Hospitals, MyDentist in India, Sahara Clinic in Indonesia, DaVita in India and Malaysia, Skyline Hospital in Manila, NMC Group of hospitals in UAE and Karen Hospital in Kenya. Outside India, UAE is their biggest base with over 24 hospitals using their solution.
Insta Health’s platform enables hospitals to automate their key processes – clinical, financial and operational management processes. Post acquisition, Insta Health will remain as a separate division led by Ramesh Emani who is founder and CEO of the company.
Insta Health solution compliments and aligns well with Practo’s offering – Insta’s solution is used by standalone clinics and clinic chains, hospitals and diagnostic labs to automate clinical, operational and financial processes like scheduling, registration, patient management, billing, e-medical records, insurance, lab equipment integration, inventory management among other features.
The acquisition will help Practo in multiple ways – first and foremost it will help them expand internationally due to Insta Health’s presence. Practo will also benefit immensely once Insta Health’s product is integrated with their own platform. Post-integration, Practo users can avail much better healthcare experience as patients can then directly search and find information about doctor availability across hospital and departments. They can have 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 post their discharge on Practo either on the web or on the mobile app.
Just last month, Practo raised their Series C round of funding of $90 million from Sofina, Google Capital, Altimeter Capital, Sequoia Capital Global Equities, Yuri Milner, Sequoia Capital and Matrix Partners. Just 4 months prior, they had got $30 million Series B funding as well. Their first round of $5 million funding was raised back in 2011 which was led by Sequoia Capital.
Practo is definitely putting the money to good use!