MediBuddy & DocsApp merge to create India’s largest digital healthcare platform
By M4G Bureau - June 05, 2020
The entity has attracted INR 150 Crore INR in funding from marquee investors to further revolutionise digital healthcare & telemedicine sector
Industry pioneer DocsApp merges with MediBuddy’s digital consumer health business. This coming together of DocsApp, India’s largest online doctor consultation platform and MediBuddy, leader in digital consumer health for enterprises, creates India’s largest and most comprehensive digital healthcare platform.
With digital health being the new normal, DocsApp and MediBuddy are experienced and equipped to be at the forefront, to help millions of Indians to access high-quality healthcare. Combining their respective strengths, the joint entity is well-positioned to take a leadership position in enabling 24x7 access to healthcare. The platforms will continue to focus on enabling healthcare services like online specialist doctor consultations, lab tests, preventive health checks, delivery of medicines etc. to customers across India.
Together, the combined entity is servicing the healthcare needs of over 3 crore Indians, with a partner network of over 90,000 doctors, 7000 hospitals, 3000 diagnostic centres and 2500 pharmacies covering over 95% of all pin codes in India.
Addressing a press conference to announce the partnership, Satish Kannan, CEO of the merged entity said, “This combined entity will offer a comprehensive platform to our customers that delivers on the promise of a digital healthcare future. As first-movers, we are confident that we will establish market leadership and fulfil our mission to provide quality healthcare to every Indian.”
Satish Gidugu, CEO, Medi Assist, added, “We are excited to join forces and set a bold new vision for the digital healthcare ecosystem in India. Combining the capabilities of DocsApp and MediBuddy will deliver an on-demand healthcare platform providing exceptional customer experience for both enterprise and retail users.”
The interest and excitement around this healthcare platform are manifested in investments being directed towards the same, even at a time when uncertainty and caution are prevalent worldwide. Satish Kannan, CEO announced a $20 Million (150 Crore) Series B round of funding led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo (MSIVC) & Beyond Next ventures. Existing investors including Milliways Ventures and Rebright Partners also participated in this round.
The joint entity will utilize the funding in further strengthening its doctor base, patient reach, product and technology to move a step closer to its mission of providing high-quality healthcare to a billion people.
Elaborating on this investment, Vishal Gupta, MD, Bessemer Venture Partners said, “As a result of its targeted solutions and exceptional metrics, DocsApp has achieved a leadership position. We are pleased to be a part of this growth journey and believe that the merger with MediBuddy is the boost it requires to provide quality healthcare to all. We will now be able to deliver services across the value chain and also have become the largest player in terms of the customer base”.