Exclusive: Practo In Talks To Acquire Healthtech SaaS Startup HealthPlix

Healthtech startup Practo is in talks to acquire healthtech SaaS startup HealthPlix in what seems to be a distress sale, sources told Inc42.

The deal is expected to be finalised for $25 Mn to $30 Mn, the sources added. 

“The due diligence process is ongoing and the deal is expected to close in a few weeks,” one of the sources said.

The acquisition would help Practo expand its enterprise healthcare software business by complementing its patient-facing platform with HealthPlix’s EMR and clinical workflow solutions, the sources said.

Questions sent to Practo didn’t elicit any response till the time of publication. 

Founded in 2014 by Sandeep Gudibanda, Raghuraj Sunder Raju, and Prasad Basavaraj, HealthPlix provides EMR software that enables doctors to maintain digital patient records, streamline consultations, and manage clinical workflows. 

The startup last raised $22 Mn in a mix of equity and debt in its Series C funding in 2023 in a round led by Avataar Venture Partners and SIG Venture Capital. 

HealthPlix was last valued at around $60 Mn and counts Lightspeed Venture Partners, JSW Ventures, and Kalaari Capital among its backers.

In 2024, the startup laid off about 100 employees, or roughly 25% of its workforce, as part of a restructuring exercise and annual performance review. 

The acquisition talks come as Practo is gearing up to raise about $120 Mn in a pre-IPO funding round at a post-money valuation of around $700 Mn, as exclusively reported by Inc42 earlier. 

Founded in 2008 by Shashank ND and Abhinav Lal, Practo operates a digital healthcare platform that enables patients to book doctor appointments, consult physicians online, order medicines and schedule diagnostic tests. 

It also offers practice management software for doctors, clinics and hospitals, alongside operating 40 co-branded dermatology clinics across India. 

The startup last raised $32 Mn in funding in 2020 from Tencent, Peak XV Partners (then Sequoia), Z47 Partners (then Matrix Partners), and Sofina. Overall, it has raised nearly $230 Mn to date from investors like Russia’s Ru-Net, RSI Fund, Thrive Capital, Capital G, and more. 

Besides India, Practo has expanded into the US and the UAE. It entered the UAE market last year and also launched a pilot in the US, where it now claims to have onboarded more than 2 Lakh doctors and built an annual GMV run rate of over $75 Mn. 

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