Acquisition Rumors Are Not True: Practo


Acquisition Rumors Are Not True: Practo

practo.pngOnline service for scheduling appointment with doctors Practo is saying that the rumors of its acquisition by HealthKart aren’t true.

Here’s a statement from Practo

In the recent past, some of the publications have reported that is acquiring Practo Technologies. The company would like to clarify that there is absolutely no such plan.

On the contrary, Practo has aggressive expansion plans and it expects to generate Rs. 20-crore in revenue for FY14-15. From the current employee strength of 224, the company is looking at increasing its staff strength to more than 400 By December 2014. By end of this year, it also aims at having 2 million unique visitors per month and 5,000 appointments a day.

Practo Technologies was incepted in May 2008, is currently India’s leading patient centric destination for finding and booking appointments with Doctors. Practo also has a subscription-based SAAS product called Practo Ray that Clinic and Healthcare providers use to manage their practice. Practo’s mission is to make the process of accessing healthcare easier for patients and aims at continuously developing and enhancing this platform to bring seekers and providers of medical expertise together.

A newspaper report recently ran a source based story which said (among other things) that HealthKart was in talks to acquire Practo. Healthkart had raised $14 mn from Intel Capital and Sequoia Capital in March 2013.  Practo secured Rs 25 cr (~$4.6mn) in Series A funding from Sequoia Capital in July 2012. Doesn’t look like they are selling.

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