Netmeds acquires health tech startup KiViHealth with Rs 70 crore investment commitment
Netmeds didn't disclose the deal value but said it will invest about $10 million (Rs 70 crore) to grow the healthcare business of KiViHealth.
Chennai: City-based e-pharma portal Netmeds recently announced that it will be acquiring the health-tech startup KiViHealth in a cash and stock deal. According to recent media reports, Netmeds will invest close to $10 million to integrate and grow KiViHealth.
Speaking about the acquisition, Founder & CEO of Netmeds.com, Pradeep Dadha said, “We continue to develop a well-rounded healthcare eco-system around Netmeds. The acquisition of KiViHealth is a shining example of an innovative, technology powered, next-generation health care application that caters to the needs of a modern-day doctor. With this acquisition, Netmeds.com adds to the portfolio of technology-driven solutions as it transforms the brand into a complete healthcare product and service company."
Prior to this, Netmeds.com also acquired online video consultation app JustDoc last September venturing into healthcare services, diagnostics and consultation.
Founded in 2015 by Indian School of Business Alumni, Bhanu Mahajan & Rajandeep Singh, KiViHealth is a practice/clinic management platform and its USP is built around its unique "digital prescription pad" tool which allows doctors to generate digital prescriptions.
Speaking about the acquisition KiViHealth co-founder Bhanu Mahajan added that, “KiviHealth has been well-received by the medical community which has embraced this new-age doctor/patient collaboration tool. Netmeds.com is the perfect partner to help us achieve the scale that we believe is within our grasp.”
“Being under the aegis of one of the most trusted brands in e-healthcare space will inspire a greater level of confidence, accelerate our growth and help us achieve our vision of being a universal digital healthcare management platform,” KiVi Health Co-founder, Rajandeep Singh added.
Creating a prescription digitally not only rules out any possible misinterpretation of the medication or dosage it also creates an electronic historical health records storage for the benefit of the patient as well as the physician. AI-based prescription management technology helps doctors diagnose similar conditions in patients and helps healthcare stakeholders analyse trends that can be used as a predictive analysis tool.
Furthermore, the app also provides an appointment booking module and patient engagement tool along with billing/ invoicing solutions and serves as an "end-to-end" clinic management solution.
Speaking about the features of the app, Pradeep Dadha said, “The platform not only creates a digital patient health record repository with the 'digital prescription pad' tool but also powers day to day operations such as appointment booking, invoicing & medicine inventory management. It serves as an end-to-end clinic management solution.”
Additionally, the platform provides robust doctor-patient collaboration tools which empower the creation, a fully digitized clinic. This platform uses AI, automation and visual aids to create a patient-centric digital healthcare management information system and a next-generation online clinic.
Netmeds, however, didn't disclose the deal value but said it will invest about $10 million (Rs 70 crore) to grow the healthcare business of KiViHealth, reports VCCircle
Netmeds.com is a licensed e-pharma portal that offers prescription and Over the Counter (OTC) medicine along with other health products. The portal offers customers the convenience of ordering health products online. Through Netmeds, consumers get access to more than 50,000 prescription drugs, for chronic and recurring ailments as well as enhanced lifestyle drugs and thousands of non-prescription goods for wellness, health and personal care.