Practo was recently in news for expanding their vertical in Asia when they started operations in Indonesia. And today, Practo officials have declared that they are aquiring Insta Health Solutions in a deal worth $12 million. Insta Health is known for providing cloud-based services for providing hospital information management solutions and have been associated with many hospitals in Middle East, India and African region.
Practo have already acquired Genii and Fitho and now Insta Health adds up to become their third aquisition. When asked about the reason behind aquiring Insta Health, Shashank ND from Practo said that ” There are organizations which provide medical software solutions, but Insta’s products offer high range of scalability“.
As per the official terms of Practo, they are eyeing an acquisition of as high as six companies by end of 2015 and the steps goes in sync with the same.
While most of us might already be aware of the fact that Insta was already part of Practo’s Health Program and were helping them to provide hospital information management to get a better healthcare experience to their end app users. Practo provides people with option to search doctors, find medical services as per their schedule and with Insta being on their side, they will also be able to provide health records directly over the app.
Our Take on Practo’s Acquisition
Healthcare is an everlasting genre. The growth of healthcare sector in India as per present stats is around $400 million + figure. With Practo bringing the healthcare experience online, they are on the verge of becoming one of the most reliable name in this segment. They’ve already raised Series C round of funding and are expanding exponentially. Though there are local providers in many cities whose presence cannot be denied, Practo has been doing well and Insta’s addition to them seems to be a very fruitful decision.