Healthcare platform Practo has acquired hospital information management solution provider, Insta Health Solutions for $12 million. Insta Health Solutions provides an end to end cloud based hospital information management solution (HIMS) that powers hospitals across 15 countries in India, South East Asia, Middle East and Africa. Some of Insta’s 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.
As part of the deal, Insta will operate as a separate division and will continue to be led by its Founder & CEO, Ramesh Emani. With this acquisition, Practo gets an expanded global customer base and it will also help accelerate Practo’s Partner Program that is designed to enable HIMS providers around the world to integrate with Practo’s platform so as to provide consumers a seamless healthcare experience.
The acquisition will provide an option to hospitals using Insta’s product to integrate with Practo’s platform and thus provide a better healthcare experience to patients by enabling them to search and easily find information about doctor availability across hospital and departments. It will also allow instant bookings and no waiting or long queues for the patients.
Services of Insta is used by both standalone and chain of clinics, 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, etc.
Practo claims to facilitate 10 million searches every month. There are more than 200,000 doctors, 5,000 diagnostic centres and 10,000 hospitals listed on its platform.
Practo acquired Genii, a product outsourcing firm and Delhi based digital fitness management application Fitho Wellness in July and April respectively. The company also raised two rounds of investment. In August 2015, it raised an amount of $90 million in Series C round led by Tencent, with participation from marquee institutional investors including Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner. In February 2015, the company raised $30 million in series B round led by Matrix partners with participation from existing investor Sequoia Capital.