Online diagnostics startup Healthians said on Tuesday that it has acqui-hired business-to-business (B2B) diagnostics logistics service provider Healthy Labs.
NCR-based Healthians said in a statement that the deal will enable the startup, which is backed by cricketer Yuvraj Singh, to enter the Mumbai and Pune markets.
Healthy Labs' founder Nikhil Jadhav and its employees will join Healthians as part of the transaction.
Healthians aggregates diagnostic labs, crowd-sourced sample collectors and nearby doctors. It also makes patients’ medical records available online.
The target company, which was founded in January last year, provides logistics support to healthcare providers in Maharashtra.
Deepak Sahni, founder and CEO of Healthians, said that the acquisition was another step towards reaching its revenue target of Rs 100 crore this financial year. The company is looking for more acquisitions and plans to invest over $5 million to expand its services across India within the next 24 months, he added.
The company, which is operated by Expedient Healthcare Marketing Pvt. Ltd, aims to make acquisitions in the western, southern and central regions of the country.
Healthians was founded in 2015 and first started operations in Delhi-NCR. It currently has a presence across seven states in over 30 cities including Bengaluru, Lucknow, Kanpur, Agra, Dehradun, Jaipur, Panipat, Ambala, Karnal, Mohali, Panchkula, Chandigarh, Jalandhar, Ludhiana and Amritsar.
Healthians had raised seed funding from healthcare-focussed accelerator Healthstart in 2015. This was followed by an investment from Yuvraj Singh’s venture capital firm YouWeCan Ventures.
In 2016, Japanese VC fund Beenext led a Series A round of funding in the company. The following year, the company raised a bridge round from Japan’s Asuka Holdings and some existing investors.
The health-tech segment has recorded at least three other mergers and acquisitions transactions this year.
In January, Medlife International Pvt. Ltd acquired Mumbai-based digital healthcare platform and home diagnostics services company MedLabz for an undisclosed sum.
In March, online pharmacy NetMeds Marketplace Pvt. Ltd acquired health-tech startup KiViHealth in a cash-and-stock transaction. Later in April, Japan-based M3 Inc. acquired a majority stake in DailyRounds, a community-based platform for doctors and medical students that counts venture capital firm Accel India as one of its investors.