India’s biggest online healthcare company Practo Technologies Pvt Ltd, has acquired hospital information management solution provider Insta Health Solutions Pvt Ltd for $12 million (Rs 76 crore) in a cash and equity deal.
“This is the third of several acquisitions we have been evaluating as we continue our mission to help simplify and digitise healthcare around the world,” said Shashank ND, founder and CEO at Practo.
Insta will operate as a separate division and will continue to be led by Ramesh Emani, Founder & CEO, Insta Health. Prior to founding Insta about 7 years back, he served in various capacities at Wipro including CTO of Wipro Technologies. His last position in Wipro was as President of Telecom and Product Engineering solutions, where he was responsible for handling the world’s largest third-party engineering services group.
Insta Health is a leading provider of cutting-edge end to end cloud-based hospital information management solution (HIMS), powering 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.
According to Practo – 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 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 is used by clinics (both standalone and chains), hospitals and diagnostic labs for automating their clinical, operational and financial processes such as scheduling, registration, out-patient and in- patient management, billing, electronic medical records (EMR), ward and bed management, diagnostics, advanced insurance and lab equipment integration, operation theatre, pharmacy and inventory management, specialty modules like dental, dialysis, IVF, Pediatrics and so on.