Practo Acquires Product Outsourcing Firm Genii in Expansion to Enterprise

 
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Practo Acquires Product Outsourcing Firm Genii in Expansion to Enterprise
Online healthcare platform Practo has acquired product outsourcing firm Genii which has domain experience in building bespoke e-commerce portals and SaaS platforms across retail, media, finance and other sectors.

While the company did not disclose the size and structure of the deal, Practo said Genii founders will lead product teams and help it to get into the enterprise space with products focused around hospitals, diagnostic centres and other medical facilities.

This comes close on the heels of the Bengaluru-based startup's recent expansion into helping locate diagnostic centres over and above doctor discovery on its platform. The founders of Genii, Varun Vohra and Aditya Anand, along with a 11-member team will join Practo and move to Bengaluru, a statement said. Genii's clientele includes Axis Bank, Mediassist, Economic Times, and HDFC RED among others.

"We believe acquisitions are a fantastic way to add world class, like-minded talent to our team. It gives us a fast way to scale and the ability to further accelerate our roadmap. We continue to look at acquiring great talent and technology," Practo Founder and Chief Executive Shashank ND said.

In late April, Practo had acquired digital fitness solution firm Fitho Wellness for an undisclosed amount. The company raised $30 million (roughly Rs. 190 crores) in second round of funding from Sequoia Capital and Matrix Partners in February this year. Practo aims to offer consumers a single window platform covering curative, preventive, fitness and wellness segments.

Practo has nearly 150,000 verified doctors listed across 35 cities, and has on-boarded nearly 4,000 labs in eight cities. The firm will soon extend its diagnostic search facility to 35 cities, it said.

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