Practo makes fifth acquisition, buys analytics startup Enlightiks
Practo Technologies Pvt. Ltd, a web-based clinic management software developer, has acquired US-based data analytics firm Enlightiks Inc. and its Indian operations in a cash-and-stock deal.
The deal, which includes the acquisition of Bengaluru-based Enlightiks Business Solutions Pvt. Ltd, is valued at $13.9 million (about Rs 92 crore), according to VCCEdge, the data research platform of News Corp VCCircle.
As per the deal, the entire team of Enlightiks will become part of an analytics business unit within Practo. The unit will be headed by Enlightiks co-founder and CEO Vamsi Chandra Kasivajjala, Practo said in a statement.
This is Practo's fifth acquisition till date and its third in the enterprise space, Shashank ND, Practo's founder and chief executive said in a statement.
Practo had acquired four companies last yearâ€“ hospital information management solution provider Insta Health for $12 million, hospital appointment scheduling firm Qikwell, web and app-based fitness management platform FithoWellness and product outsourcing firm Genii.
Through its proprietary business intelligence and predictive analytics platform, Querent, Enlightiks offers insights for healthcare providers. The firm was co-founded by Shilpa Peri, Venkatesh Pagidimarri, Dr Bas Nair and Vamsi Chandra Kasivajjala in 2012 and was later joined by Shaunak Joshi and Sunil Kondala.
"With Querent, we will be able to help CXOs make their enterprises run more efficiently which should improve the overall quality of care while making it more affordable," said Shashank ND
Founded by Shashank ND and Abhinav Lal in 2008, Practo is the one of the most well-funded healthcare startups in the country. The company has raised more than $120 million.
In August 2015, it raised $90 million in Series C funding led by Chinese media and technology conglomerate Tencent Holdings Pvt Ltd. It raised $30 million in a Series B round from Sequoia India and Matrix Partners in February 2015. In 2012, it had raised $4.6 million from Sequoia Capital in a Series A funding round.
The firm helps patients book appointments with doctors online and also enables doctors in primary clinics and hospitals to manage patient records under a software-as-a-service (SaaS) model. Practo also facilitates online delivery of medicines, e-consultation and beauty and wellness products.