After raising $90 million in Series C funding in August, India-based physician search portal Practo has acquired cloud-based hospital information management company Insta Health for $12 million (Rs 80 crore) in a cash and equity deal. Founded in 2008, Insta Health provides hospital information systems and EMR solutions to hospitals across South East Asia, Middle East, India, and Africa. The Insta Health acquisition marks the company’s third acquisition in less than six months. The acquisition will help accelerate integration of Practo’s platform with HIMs around the world to provide consumers a seamless healthcare experience.
Practo CEO and founder Shashank ND explained some of the reasons behind the Insta Health acquisition in a blog post:
“Until now, with Practo Ray, we have focused on digitizing clinics and helping them become more efficient. Clinics use Practo Ray to manage millions of patients, digitize records and provide a better healthcare experience.
But we realized that hospitals had very different needs than clinics. They not only have many more departments within each unit, but also have several different aspects to take care of; including in- patient management, billing, ward and bed management, diagnostics, advanced insurance and lab equipment integration, operation theatre, pharmacy and much more.
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”
Under terms of the deal, Insta Health will operate as a separate division and will continue to be led by Ramesh Emani, Founder & CEO, Insta Health. The integration between Practo and Insta Health will allow users to access their medical records on the Practo app and provide them with a real-time view of a doctor’s availability to enable instant appointment bookings across 500 hospitals that use Insta Health’s product. 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.