Health-tech startup Click2Clinic has acquired Home Health Care, an agency which offers home health care services in Bengaluru, for approximately Rs 4 crore in an all-stock deal.
Click2Clinic, which aggregates hospitals, clinics, diagnostics, pharmacy, ambulance services and allied health services, will deploy its technology and capitalize on the network created by this agency in Bengaluru.
Started by Dr Sujeeth R. Punnam and Dr. Murali Bharadwaj in the United States, the company had raised Rs 6 crore from angel investors including Srinivas Sattiraju (Director, Barclays), Ravindra (CEO, Delex Cargo India) Madduri, Sahdev Saharan and few others.
The company is now eying to raise Rs 6.4 crore ($1 million) for Indian expansion.
Vivek Reddy, CEO, Click2Clinic said, “We will continue to grow both organically and inorganically to accomplish our growth target,”
“Going forward we have drawn a definitive strategy to enter into 10 new cities in the next one year including plans to find new partners that will sync with our company’s growth objective”, he added
The acquisition announced with launch of its light weight mobile app Clinicopedia, which is a social community and messenger app that enables people to become members of patient support groups for 1500 common clinical conditions.
Available across iOS and Android, the app claims to crossed 12,000 downloads and aspire to have 100,000 downloads by the year end.
Click2Clinic claims to be valued at Rs 2 crore with revenue of Rs 1 crore.
The startup is currently working on a proof of concept with a large Accountable Care Organization (ACO) in the US for diabetic patients, and has forayed into Malaysian markets recently. It plans to extend its presence in other countries including Vietnam, Sri Lanka and Bangladesh over the next six months.