A move which will further strengthen the position of Practo Technologies, a doctor discovery platform in the online healthcare market is underway. Qikwell Technologies, another healthcare start up is reported to be acquired by Practo. However, the details and the investment value of the acquisition are not yet disclosed.
In a media update filed by the Hindu Business Line on the development, Practo has refused to comment on the deal, queries sent to Qikwell remained unanswered.
Practo has recently attracted a 573 crore in Series C funding investment by different investors, with a focus to invest for expansion in next 3-6 months to include medicine, wellness and fitness, globally. Practo had also acquired health and fitness solutions firm Fitho earlier this year.
The company has also acquired Genii as an enterprise investment to lead its product teams and help it to get into the enterprise space with products focused around hospitals, diagnostic centers and other medical facilities
Practo is backed by heavy investment companies such as a SAIF Partners, Sequoia Capital and Matrix Partners, who continue to show strong faith in the Indian start-up eco-system. SAIF Partners had invested funds in Qikwell earlier too.