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Acquisition · Healthcare & Life Sciences

Practo in talks to acquire HealthPlix

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Date
Company
Practo
What it does
Digital healthcare platform
Kind
Acquisition
Amount
$25M-$30M
Founded
2008
Sector
Healthcare & Life Sciences

What they do

Practo is a digital healthcare platform for booking appointments, online consultations, and medicine orders

What happened

It is in talks to acquire HealthPlix, an EMR software company, for $25M-$30M, though HealthPlix denies the talks

Why it matters

The deal would help Practo expand its enterprise healthcare software with HealthPlix's clinical workflow solutions

The details

  • Practo is in talks to acquire HealthPlix, a company that makes EMR (electronic medical records) software for doctors.
  • The deal is expected to be valued at $25M-$30M.
  • Due diligence is ongoing, and the deal is expected to close in a few weeks, according to sources.
  • HealthPlix cofounder Sandeep Gudibanda denies the acquisition talks and says the company is independent and expanding.
  • The acquisition would help Practo expand its enterprise healthcare software with HealthPlix's EMR and clinical workflow solutions.
  • Practo is also gearing to raise about $120M in a pre-IPO round at a $700M post-money valuation.

The bigger picture

  • HealthPlix last raised $22M in Series C in 2023, led by Avataar Venture Partners and SIG Venture Capital.
  • HealthPlix's last valuation was about $60M.
  • HealthPlix laid off about 100 employees (25% of its workforce) in 2024 as part of a restructuring.
  • Practo last raised $32M in 2020 from Tencent, Peak XV Partners, Z47 Partners, and Sofina.
  • Practo has raised nearly $230M in total from investors including Ru-Net, RSI Fund, Thrive Capital, and Capital G.

About the business

  • Practo is a digital healthcare platform that allows users to book appointments with doctors, have online consultations, order medicines, and book diagnostic tests.
  • Practo offers practice management software for doctors, clinics, and hospitals.
  • Practo operates 40 co-branded dermatology clinics across India.
  • Practo has expanded into the US and UAE markets, entering the UAE last year and launching a US pilot.
  • Practo's US business has onboarded over 2 lakh doctors and has an annual GMV (gross merchandise value) run rate of over $75M.
  • HealthPlix makes EMR software for digital patient records, streamlined consultations, and clinical workflow management.
  • HealthPlix is expanding its footprint in the USA market and has a cash balance of about 50% of its last fundraise.

What happens next

  • The acquisition would help Practo expand its enterprise healthcare software with HealthPlix's EMR and clinical workflow solutions.
  • Practo is also gearing to raise about $120M in a pre-IPO round at a $700M post-money valuation.

The deal

Type
acquisition

Investors

  • Avataar Venture Partners (lead) — Led HealthPlix's Series C round in 2023.
  • SIG Venture Capital (lead) — Co-led HealthPlix's Series C round in 2023.
  • Lightspeed Venture Partners (existing) — Backer of HealthPlix.
  • JSW Ventures (existing) — Backer of HealthPlix.
  • Kalaari Capital (existing) — Backer of HealthPlix.
  • Tencent (existing) — Invested in Practo's last round in 2020.
  • Peak XV Partners (existing) — Invested in Practo's last round in 2020.
  • Z47 Partners (existing) — Invested in Practo's last round in 2020.
  • Sofina (existing) — Invested in Practo's last round in 2020.
  • Ru-Net (existing) — Investor in Practo.
  • RSI Fund (existing) — Investor in Practo.
  • Thrive Capital (existing) — Investor in Practo.
  • Capital G (existing) — Investor in Practo.

Founders

  • Shashank ND Singh, Co-founder
  • Abhinav Lal, Co-founder
  • Sandeep Gudibanda, Co-founder of HealthPlix
  • Raghuraj Sunder Raju, Co-founder of HealthPlix
  • Prasad Basavaraj, Co-founder of HealthPlix

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