E-Pharma acquires health-tech startup KiViHealth in a cash and stock deal.
Netmeds has a wide portfolio of 3.7 Million customers in over 610 Indian cities and town till now.
Healthcare sector in India is expected to be a $372 Billion market by 2022
Netmeds has also acquired JustDoc and medicine delivery startup Pluss.
Netmeds aims to become a market leader in providing authenticated prescription and over-the-counter medicine digitally.
E-Pharma startup Netmeds on Monday declared that it is going to acquire health-tech startup KiViHealth in a cash and stock deal. The company is planning to invest $10 million to integrate and grow the KIVI Healthcare Business Segment.
Chennai-based pharmaceutical e-commerce portal Netmeds.com last September also bought online video consultation app JustDoc to enter into diagnostics, healthcare services, and consultation. It also added Delhi-based hyperlocal medicine delivery startup Pluss in its portfolio two years back.
Pradeep Dadha CEO of Netmeds said about the acquisition, with this successful acquisition, Netmeds.com expands its portfolio of technology-driven solutions as it converts the brand into a full healthcare product and service company.
KiViHealth is an Ahmedabad based practice/clinic management platform and it was founded in 2015 by Indian School of Business Alumni, Bhanu Mahajan, and Rajandeep Singh. The platform permits doctors to create digital prescriptions. The application also assists in managing a patient engagement tool and an appointment booking module along with billing/ invoicing solutions.
According to a press note, the platform gives doctor-patient collaboration tools for a fully digitized clinic. App uses automation, AI and visual aids to build a patient-centric digital healthcare management information system. Kivi Health has provided services to over 2 million patients and also offers services to more than 2,000 doctors through its website and mobile app.
Netmeds came into existence in 2010 by Pradeep Dadha. The company is a licensed pharmacy marketplace that provides authenticated prescription and over-the-counter medicine digitally. It also offers other health products. The firm is backed by Tanncam, MAPE Advisory, Daun Penh, Sistema, and OrbiMed. The company claims to have served 3.7 Mn customers in over 610 Indian cities and town till now.
Healthcare sector in India is expected to be a $372 Billion market by 2022 and it has created a plethora of opportunities for startups globally.
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