SUMMARY
MediBuddy will leverage Clinix’s network across 20 Tier-2, 3 cities to increase its user base and further scale their operations
Clinix has a wide presence in the rural areas and with our network and infra-tech support, we aim to further expand our reach and services: MediBuddy CEO
The acquisition marks MediBuddy’s first major deal since it raised $125 Mn in a Series C funding round led by a clutch of investors
Healthtech startup MediBuddy has acquired rural India-focused online consultation platform Clinix for an undisclosed amount.
The deal will enable MediBuddy to further expand its reach in non-metro areas of the country. MediBuddy will leverage Clinix’s network across 20 Tier-2, 3 cities to increase its user base and further scale their operations.
“Clinix has a wide presence in the rural areas and with our network and infra-tech support, we aim to further expand our reach and services and achieve our goal of covering a large section of the population, who have limited access to quality healthcare solutions,” MediBuddy CEO Satish Kannan said.
Clinix, founded in 2020 by Aravind Dhulipala and Sachin Pippiri, allows users to quickly book appointments with doctors using mobile phones. The startup also operates facilitator-headed kiosks where patients can directly consult with doctors.
The acquisition marks MediBuddy’s first major deal since it raised $125 Mn in Series C funding round in February led by a clutch of investors.
Founded in 2013 by Satish Kannan and Enbasekar Dinadayalane, MediBuddy allows users to book lab tests, consult doctors and order medicines on its platform. In June 2020, MediBuddy merged with telemedicine startup DocsApp, and consolidated operations under a single brand – MediBuddy.
It claims to have a network of 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies across multiple Indian cities. The healthtech company has more than 1,800 employees on its rolls.
While 2021 was a bumper year for healthtech startups, they appear to have hit a roadblock in 2022. Last year, the homegrown healthtech sector raised $2.2 Bn in funding across 131 deals. Besides, more than 3,548 startups were active in the space in 2021.
In 2022, many of the startups in the sector are facing financial difficulties, and the space has also seen merger and acquisitions. Earlier this week, MFine, which was under financial duress for months, announced its merger with the diagnostics arm of LifeCell International. In May, MFine had fired close to 75% of its staff in a mass layoff exercise.
In June, Gurugram-based Breathe Well-being laid off 50 employees or almost 30% of its workforce. Meanwhile, Unicorn Pristyn Healthcare acquired telemedicine startup Lybrate for an undisclosed amount in June.
According to an Inc42 analysis, the Indian healthtech market is estimated to grow to $21 Bn by 2025.
