Online pharmacy NetMeds has purchased India-based pharmaceutical software developer KiviHealth for an undisclosed amount in a cash-and-stock deal, allowing pharmaceutical company Claris Lifesciences to exit, Times of India has reported.
Founded in 2015, KiViHealth has developed a clinic management platform that allows doctors to generate digital prescriptions for their patients.
The platform leverages artificial intelligence technology to provide appointment booking and patient engagement tools, along with billing and invoice services. The KiviHealth business will receive $10m of investment from NetMeds post-acquisition.
The company had raised $400,000 in pre-series A funding from Claris subsidiary Claris Capital and Chandigarh Angels Network in January 2018, following $130,000 from angel investors including Pradeep Jaisingh.
Pradeep Dadha, NetMeds’ founder and chief executive, told TOI: “Both doctors and consumers are critical to the healthcare value chain, and with this acquisition, we are getting close to the healthcare service providers, and creating digital touch points in the digital ecosystem.
“The platform not only creates a digital patient health record repository with the digital prescription pad but also powers day-to-day operations such as appointment booking, invoicing and medicine inventory management.”