Acqwire: Flipkart Acquires PhonePe; Portea Medical Buys HealthMantra

Flipkart Acquires Phonepe

Flipkart has acquired Bengaluru-based mobile payments company PhonePe. Although the company has not yet passed any comment on the development, the news has been confirmed . The financial details of the deal have not been disclosed.

Co-founded by former Flipkart employees Sameer Nigam and Rahul Chari in December last year, PhonePe is building a product based on the new unified payments interface (UPI) of the National Payments Corporation of India (NPCI). Read more.

Home Healthcare Service Provider Portea Medical Acquires Health Mantra

Home healthcare service provider Portea Medical, run by Health Vista India Pvt. Ltd, has acquired medical equipment service provider, Health Mantra India Pvt. Ltd., in a cash and stock deal.

The motive of this acquisition lies in the fact that it could help Portea penetrate deeper into categories such as respiratory care, geriatric care and orthopedics.

Health Mantra, which was launched in 2009 by Ashish Bhutada and Anoop Kodoli, claims to have more than 30 biomedical engineers, physiotherapists and service staff. It currently operates in Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana and Maharashtra. Read more.