Practo, Asia’s leading healthcare platform, today announced the acquisition of Qikwell – a leader in appointment scheduling at hospitals for an undisclosed amount in a cash and stock deal. With this acquisition Practo became the world’s largest appointment booking platform with nearly 40 million appointments managed every year.
With this acquisition, Practo gets a fantastic product that delivers a great consumer experience in hospitals and clinics by providing smooth appointment booking, significantly reduced waiting time as well as contactless payment at the hospital. The key proprietary technologies and algorithms help synchronize patients, doctors and front office staff at the hospital to reduce the average wait time by over 3X resulting in a much better consumer experience as well as better optimization of the hospital operations. Practo will use this technology to improve the booking experience across the entire Practo platform.
Qikwell started in 2011, by Krishna Prasad Chitrapura and Raghavendra Prasad TS, today has 100+ employees and over the last 4 years has grown to become one of the leaders in hospital appointment scheduling with presence across 250 Hospitals in 19 cities. It powers the patient experience across some of the marquee hospitals including Manipal, Fortis, Cloudnine, Narayana Hrudalaya and many more. Qikwell will continue to be led by Krishna Prasad, Co-Founder & CEO, Qikwell and Raghavendra Prasad, Co-Founder & CPO, Qikwell.
“This is our 4th acquisition in the last 5 months. We continue our mission to help simplify and digitize healthcare globally. I am very pleased to welcome Krishna, Ragavendra and the Qikwell team to Practo. Practo has been the pioneer in digital health and with this acquisition Practo now becomes the world’s leading appointment management platform. Over the coming months, we will continue our aggressive expansion and build the world’s leading healthcare technology platform.” – Shashank ND, Founder & CEO, Practo
“Qikwell is thrilled to join Practo in our quest to enable digital healthcare worldwide. We share the same passion, vision and commitment to customers in offering great products. We chose Practo over some other options because together we can offer superior, comprehensive and integrated solutions for all participants in the healthcare ecosystem across patients, doctors and healthcare providers. I look forward to working with Shashank and the Practo team in realising our shared vision of transforming healthcare globally.” – said Krishna Prasad, Co-Founder & CEO, Qikwell
Practo recently raised $90 million from Tencent, Belgian venture capital firm Sofina, Sequoia Capital Global Equities, Google Capital, Altimeter Capital and Yuri Milner, founder of Russian venture capital firm DST Global and existing investors Sequoia India and Matrix Partners. The $90-million round is the biggest for a domestic healthcare start-up.