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Practo, a Bengaluru-based healthcare start-up that offers multiple products, has bought Mumbai Angels backed Insta Health Solutions for about ₹80 crore, making it among the top acquisitions in the digital healthcare space. Insta Health Solutions is a major player in the Hospital Management Systems/Hospital Information Systems space through its cloud-based SaaS offering, both in India and globally. Ramesh Emani, former CTO of Wipro, founded Insta Health, which now has operations in India, West Asia, Malaysia and Africa with 10,000 hospitals on its platform.
Through this acquisition, Practo will get access to the real-time view of a doctor’s availability to enable appointment bookings across 500 hospitals that use Insta Health’s products. It will also enable Practo to allow users to access their medical records on its app through integration with HMIS.
The deal gives Mumbai Angels and other investors a 100 per cent cash exit with a multiple of 4.22 times on their capital.
Insta Health’s 100 employees will join Practo. Insta Health will operate as a separate division and will continue to be led by its founder Ramesh Emani.
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