Published on : Sep 15, 2015
Two important international transactions were in the headlines last week. China based company Quyi that develops medical apps and devices raised $40 million whereas Indian company Practo that offers practice management tools and doctor search engine, acquired Insta Health for hospital data management. According to TechNode, Baidu, a search engine giant of China, led the funding for Quyi with support from SB China Capital, and HighLight Capital. With this the total funds of the company will amount to $48.5 million.
Quyi offers three main products namely a patient portal, a medical information tool, and a telemedicine system. The patient portal allows the users to easily schedule appointments, make payments, and view medical information. The medical information tool integrates the medical information from various sources. Currently, over 1000 hospitals and medical institutes are using the offerings from Quyi. The number is expected to reach 2000 by 2016.
Practo acquired Insta Health that developed a hospital data management system based on cloud systems for $12 million. Practo offers two main products namely a doctor search engine, and a practice management tool. The doctor search engine application enables the users to locate local doctors and their availability. The Practice management tool, namely Practo Ray, is designed for the health clinics that primarily collects data regarding health of the patients.
Now it will be easy for the customers of Insta to access database of the doctors of Practo to check their availability and view their health information. The users will also be able to schedule a meeting or book a doctor’s appointment online. Some of the existing customers of Insta are Cloudnine, MyDentist in India, Skyline Hospital in Manila, Karen Hospital in Kenya, and others. The companies are planning to incorporate the system of Insta Health into the products of Practo. Last month, Practo successfully raised $90 million from Sofina, Google Capital, and Tencent