Japanese Healthtech Co M3 acquires Accel-backed heath tech firm DailyRounds
- M3 Inc. acquires a major stake in health tech startup DailyRounds.
- M3 by this acquisition plans to reach 450,000 doctors in India.
- M3 going to import technologies developed by it in Japan to India.
Japan-based Healthtech firm M3 Inc. has acquired a major stake in a community-based platform for doctors and medical students, DailyRounds. With this acquisition, M3 enters into medical test preparation business and case-based problem-solving community platform in India. M3’s existing business in India includes Health Impetus Pvt. Ltd, a joint venture with Quadria Capital-backed home healthcare services provider Health Care at Home India. Health Impetus Pvt. Ltd operates an online portal that assists Indian doctors to stay abreast with the latest in research, evidence-based medicine, practice guidelines, medical news, and expert articles.
Pointing towards acquisition M3 India CEO Amit Singh said the acquisition will assist the company in reaching out to 450,000 doctors in India. He also added this deal will also enable M3 to escalate its marketing support and market research businesses to pharmaceutical and medical devices companies through the expansion of doctor membership and enhancement of medical education contents. M3 will also import technologies developed by it in Japan to India and craft next-generation healthcare technologies in India.
DailyRounds came into action in 2014 by Nimmi Cherian, a former research officer at IIT-Madras, Priyaank Choubey, a former CTO at Spiffout, a customer engagement platform, and Deepu Sebin, an MD in internal medicine and critical care. It is operated by Neuroglia Health Pvt. Ltd. The startup has raised $500,000 in 2015 in its seed funding round. Japanese internet investor Teruhide Sato (founder of Beenos), VC firm Kae Capital and GSF India participated in the funding round. In September 2016, it raised an undisclosed amount of funding from Accel India and Asuka Holding of Japan.
In February Health-tech platform Medlife International Pvt. Ltd also acquired Mumbai-based digital healthcare platform and home diagnostics services company MedLabz for an undisclosed sum.
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