Netmeds acquires health tech start-up KiViHealth for $10 million
Category: #health  By Pankaj Singh  Date: 2019-03-25
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Netmeds acquires health tech start-up KiViHealth for $10 million

The acquisition will help Netmeds to increase its market value against rivals like 1mg, mChemist, Pharmeasy, Lybrate and more.

Chennai-based online pharmaceutical portal Netmeds, has acquired Ahmedabad-based healthcare startup KiViHealth in cash and stock deal. Netmeds has committed to invest $10 million to integrate and grow business of KiViHealth.

According to The Times of India, KiViHealth has over 3,100 hospitals and healthcare centres enrolled, and manages record of over 2 million patients, and is serving more than 2,000 doctors through its website and mobile app.

Pradeep Dadha, CEO of Netmeds, quoted that the acquisition will transform Netmeds into a complete healthcare product and service company and will add to the portfolio of technological solutions. The acquisition will help Netmeds to increase its market value against rivals like 1mg, mChemist, Pharmeasy, Lybrate and more.

Netmeds has also acquired JustDoc, a telemedicine start-up in cash and stock deal of around $1 million, in September 2018. In 2016, Netmeds had also acquired Delhi-based hyperlocal medicine delivery startup Pluss.

For the record, KiViHealth is AI-based prescription management platform which uses a unique “digital prescription pad” tool to generate digital prescriptions by doctors. It helps patients in searching doctors, booking appointments, track medical timeline, notify medicine schedule, manage medical records and gives a chatbot like experience.

For the record, Netmeds was founded by Pradeep Dadha in year 2010. The company is a licensed pharmacy marketplace which allows users to order their medicines by uploading prescriptions via website and app. It has a team of pharmacists which verifies the prescription and prescribes appropriate dosage accordingly. Netmeds claims to serve more than 3.7 million customers in over 610 cities and towns in India. The company has support of investors like MAPE Advisory, Daun Penh, Sistma, OrbiMed and Tanncam.

Healthcare is expected to be a $372 billion industry in India by the year 2022. According to reliable sources, there are more than 4,800 active healthcare startups in India and all these startups raised around $504 million in 2018, as per estimations.



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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