Practo acquires FitHo, launching preventive healthcare solutions
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Practo Technologies Pvt. Ltd, an online doctor-booking portal, said on Thursday that it had acquired Delhi-based health and fitness solutions firm Fitho Wellness Services Pvt. Ltd, which runs the FitHo mobile app. The deal size was not disclosed.
Bengaluru-based Practo is looking to launch services in preventive healthcare by the end of this year. This acquisition will provide it access to FitHo’s proprietary algorithm and recommendation engine, which will help expand Practo’s offerings.
“This is our first acquisition in line with our mission to make a single health app which offers consumers a more comprehensive solution, ranging from preventive to curative health care,” Shashank N.D., co-founder of Practo, said over the phone.
Practo raised $30 million in a second round of funding in February to fund its expansion in 35 cities in India and overseas. “We are looking at acquiring a few companies outside India to gain access to users and to expand,” he added.
Fitho was founded in 2014 by Dhruv and Prachi Gupta. The firm’s technology solutions help users manage weight and lifestyle diseases. The products provide personalized advice to millions of consumers on nutrition and physical activity. As part of the deal, FitHo’s current offering will be phased out over the next six months and the founders will take on roles in the preventive health and new segments.
Practo Ray is a subscription-based web software tool (patient management software) for doctors which provides automated appointment scheduling, storage of healthcare records including X-rays, files, prescriptions and billing.
The company has 500,000 users of the mobile app which is 60% of the total user base.
The overall Indian healthcare market today is estimated to be around $65 billion, according to IBEF. Healthcare delivery, which includes hospitals, nursing homes and diagnostics centres, and pharmaceuticals, constitutes 65% of the overall market.
Other start-ups operating in this space that have raised funds include Delhi-based HelpingDoc Pvt. Ltd, Mumbai-based Angels Health Pvt. Ltd (MediAngels.com), DocSuggest Healthcare services Pvt. Ltd (Ziffi.com) and Bengaluru-based Qikwell Technologies India Pvt. Ltd.