Online pharmacy NetMeds Marketplace Pvt. Ltd said on Monday it has acquired health-tech startup KiViHealth in a cash-and-stock transaction.
“The acquisition adds to Netmeds.com’s portfolio of technology-driven solutions as it grows into a diversified healthcare product and services company”, founder and CEO Pradeep Dadha said.
NetMeds didn’t disclose the deal value but said it will invest about $10 million to grow the healthcare business of KiViHealth. Operated by Ahmedabad-based Kivi Technologies Pvt. Ltd, the startup was founded in 2015 by Indian School of Business alumni Bhanu Mahajan and Rajandeep Singh.
NetMeds said KiViHealth’s artificial intelligence-based prescription management technology helps doctors diagnose similar conditions in patients and helps healthcare professionals analyse trends that can be used as a predictive analysis tool.
Dadha set up NetMeds in 2010. It lets users order their medicines via its portal and app by uploading their prescriptions. A team of pharmacists verifies the prescription and prescribes the appropriate dosage accordingly. The company claims to have eight fulfilment centres in Chennai, Bengaluru, Hyderabad, Delhi, Pune, Ahmedabad, Raipur and Kochi.
In September last year, the company had acquired online video consultation app JustDoc in a cash-and-stock transaction. The same month, NetMeds raised $35 million in a Series C funding round from Southeast Asian business conglomerate Daun Penh Cambodia Group.