1mg, the digital healthcare platform, which recently raised Rs 100 crore Series B funding led by Maverick Capital Ventures, has acquired diagnostic labs aggregator Medd to widen its diagnostic impression.
The company did not disclose the deal size and structure of the acquisition. However, as part of the deal, all the three founders of Medd - Arpit Kothari, Anurag Mundhada, and Era Dwivedi have now joined the 1mg team.
Prashant Tandon, CEO 1mg said, "Together with Medd, we see a unique opportunity to amplify our leadership position and enter new geographies as well as the Radiology segment".
Medd operates across Mumbai, Indore, Bhopal, Nagpur, Bangalore and Jaipur and 1mg's e-diagnostic service is currently available across 23 cities. Users book an appointment for at-home sample collection and receive their test results online with the added option of receiving a paper copy.
1mg has also roped in Ankur Gigras, former Marketing Head for Gastroenterology at Abbott.
Ankur, the company said, will be responsible for overseeing the Diagnostics Business and additionally drive innovative patient-centric models with Pharma, Insurance and the rest of the healthcare ecosystem.
Ankur holds an MBA from Stanford GSB & B-Tech from IIT, Madras. He has worked with McKinsey, Investment Bank William Blair and Abbott Nutrition (where he helped executing their growth strategy in India) in the past.
"We believe given the fragmentation of the industry, the largest platforms will be digital marketplaces as India leapfrogs brick-and-mortar based retail" Prashant Tandon added.