Exclusive: Practo In Talks To Acquire Healthtech SaaS Startup HealthPlix

Healthtech startup Practo is reportedly in negotiations to acquire healthtech SaaS firm HealthPlix, according to sources cited by Inc42. The acquisition is expected to be completed for a sum ranging between $25 Mn and $30 Mn, with the deal anticipated to be finalized within weeks. Sources indicate that the acquisition will enable Practo to bolster its enterprise healthcare software offerings by integrating HealthPlix's electronic medical records (EMR) and clinical workflow solutions with its existing patient-facing platform. As of now, Practo has not provided any official comment on the matter.

HealthPlix, founded in 2014 by Sandeep Gudibanda, Raghuraj Sunder Raju, and Prasad Basavaraj, provides EMR software that facilitates doctors in maintaining digital patient records, streamlining consultations, and managing clinical workflows. The startup completed a funding round in 2023, led by Avataar Venture Partners and SIG Venture Capital, raising $22 Mn in the form of equity and debt, and was valued at approximately $60 Mn at that time.

HealthPlix has benefited from backing from investors such as Lightspeed Venture Partners, JSW Ventures, and Kalaari Capital. In 2024, the company underwent significant restructuring after laying off around 100 employees, constituting about 25% of its workforce.

Practo, established in 2008 by Shashank ND and Abhinav Lal, operates a digital healthcare platform that allows patients to schedule appointments with doctors, consult via online channels, order medications, and arrange diagnostic tests. Additionally, Practo offers practice management software tailored for doctors, clinics, and hospitals, alongside a network of 40 co-branded dermatology clinics spread across India.

The company completed a funding round in 2020, raising $32 Mn from investors like Tencent, Peak XV Partners (formerly Sequoia), Z47 Partners (formerly Matrix Partners), and Sofina. To date, Practo has raised approximately $230 Mn in funding from a diverse array of investors, including Russia’s Ru-Net, RSI Fund, Thrive Capital, Capital G, and others.

Practo has extended its operations beyond India, establishing a presence in the United States and the United Arab Emirates. In the UAE, the company has onboarded over 2 Lakh doctors and is projecting an annual gross merchandise value (GMV) nearing $75 Mn. As of now, Practo has not issued any response to inquiries regarding the acquisition news.