Online medical consultation startup DocsApp has made its first acquisition by buying DocWise, a doctor-patient engagement platform, the firm said in a statement on Monday.
Bengaluru-based DocsApp, which is operated by Phasorz Technologies Pvt. Ltd, said the acquisition will add to its growing doctor network, and helps building an efficient and cost-effective medical ecosystem in the country. The financial details of the deal could not be ascertained.
DocWise, which is operated by Kyros Healthcare Solutions Pvt. Ltd, says the acquisition will help doctors to manage follow-ups and patients visit to clinics. As part of a deal, DocWise founder Rahul Gupta has joined DocsApp as the head of its consumer business division.
Satish Kannan, co-founder and chief executive officer at DocsApp, said the mobile platform has managed to help doctors streamline queues at their clinics. “Patients expect access to quality healthcare at the touch of a button,” he added.
Separately, Gupta said the move would help strengthen the two firm’s position in the digital healthcare segment.
DocWise was founded in 2015. In August 2017, VCCircle exclusively reported that the company raised funding from former Flipkart executives Mekin Maheshwari and Gaurav Bhalotia, along with a clutch of other angel investors. The startup says it has so far completed more than one lakh consultations on its platform.
DocsApp was founded in 2015 by Satish Kannan and Enbasekar Dinadayalane. In May this year, venture debt firm InnoVen Capital invested$1.7 million (around Rs 12 crore) in the company.
In 2017, it raised $7.2 million (Rs 46.4 crore) in Series A funding from Bessemer Venture Partners, besides Japanese investors TechMatrix Corporation and DeNA networks. Anand Rajaraman, Venky Harinarayan and Japanese venture capital firm Rebright Partners also participated in the round.
The company claims that it has acquired a user base across the country and that its platform has partnered over 5,000 doctors providing their services in 20 specialties including gynaecology, sexology, paediatrics, dermatology, and psychiatry and weight management.
