Acko acquires healthtech company OneCare in all cash deal

Insurtech company Acko has acquired digital chronic care management company OneCare in an all cash deal.

This is a strategic move to re-emphasise Acko’s broader vision of being a comprehensive healthcare provider to its customers, going beyond the insurance services, the company said in a press release.

Following the move, Rakesh Shivran and Sagar Bhat, co-founders of OneCare, will also be joining the leadership team of Acko, bringing in their substantial learning and experience in building large scale health-tech services.

OneCare has developed a unique omnichannel care model that combines advanced wearables, data-driven insights, and the accessibility of both physical clinics and virtual care teams.

With the acquisition, Acko aims to build a healthcare ecosystem that addresses all aspects of a customer's health insurance needs, from protection to prevention to care and recovery.

Acko has one of the largest market shares in embedded insurance products like mobility and gadget insurance in partnership with more than 50 leading players in the internet ecosystem such as Oyo, redBus, Zomato, HDB Financial Services and Urban Company. The company claims that it has distributed insurance policies to over 78 million customers and issued over 1 billion insurance policies.