Draft:Practo

Practo
Company type	Private
Industry	Digital health
Founded	2008; 17 years ago
Founder	Shashank ND; Abhinav Lal;
Area served	Multiple countries
Key people	Shashank ND (CEO); Abhinav Lal (CTO);
Products	Healthcare software, Online healthcare platform
Services	Healthcare provider software; Telemedicine; Online pharmacy;
Website	practo.com

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Instructions · What links here · Practo (talk: · bio) · (log) · Copyvios report · reFill · Citation Bot · (Search: Google, Wikipedia) · Submitted 3 days ago by Kimran999 (talk: D · ) · Last edited 2 days ago by Anomalocaris

Practo is an Indian digital healthcare company based in Bangalore. The company operates an online healthcare platform and develops software for healthcare providers.^[1] As of 2022, it reported annual revenue of ₹216 crore (approximately US$26 million).^[2]

History

Practo was founded in 2008 by Shashank ND and Abhinav Lal, graduates of the National Institute of Technology, Karnataka.^[3] The company experienced significant growth in its early years, expanding its operations and team size.^[4]

Development and Growth

The company initially focused on developing practice management software for healthcare providers.^[5] Through strategic acquisitions and expansion, Practo developed a comprehensive digital healthcare platform:

2015: Acquired Insta Health Solutions (hospital information systems)
2015: Acquired Qikwell (appointment scheduling)
2015: Acquired FitHo (digital wellness)^[6]

Funding and Financial Performance

The company has raised several rounds of funding from international investors. Notable investments include:

2017: $55 million Series D round led by Tencent^[7]
Other investors include Sequoia Capital, Google Capital, and Altimeter Capital^[3]

Services

Practo offers services for both healthcare providers and consumers:

Healthcare Provider Solutions

Practice management system
Electronic health records
Hospital information management
Clinic management tools

Consumer Services

Online doctor appointments
Telemedicine consultations
Electronic health records
Medicine delivery^[8]

Market Position

Practo operates in India's digital healthcare sector, which is projected to reach $21.3 billion by 2025.^[9] The company competes with other digital health platforms including 1mg, PharmEasy, and Mfine.^[10]

International Operations

The company has expanded into several Southeast Asian markets.^[11]

Challenges and Controversies

Data Privacy Issues

In 2019, medical professionals raised concerns about Practo's handling of patient data. While the company stated it follows international privacy standards, critics questioned the adequacy of data protection measures.^[12]

Content Moderation

The platform faced criticism in 2019 for listing treatments for homosexuality as a medical condition. After public backlash, Practo removed the listings and issued an apology.^[13]

References

^ "Indian health-tech industry's evolution boosted by digital adoption". The Economic Times. 8 March 2022. Retrieved 29 December 2024.
^ "Practo revenue up 20% to Rs 216 crore in FY22". The Economic Times. 16 December 2022. Retrieved 29 December 2024.
^ ^a ^b Chakraborty, Sayan (16 May 2017). "Can Practo take the next big leap forward?". Livemint. Retrieved 17 September 2019.
^ "Practo: The crown prince of Indian healthcare startups". Business Standard. 23 January 2015. Retrieved 29 December 2024.
^ "The State Of India's Healthcare Digital Reset". Forbes India. 15 March 2021. Retrieved 29 December 2024.
^ Peerzada Abrar (24 September 2015). "Practo becomes world's largest appointment booking platform, acquires Qikwell". The Hindu. Retrieved 17 September 2019.
^ "Healthcare startup Practo raises $55M Series D led by Tencent". TechCrunch. 17 January 2017. Retrieved 29 December 2024.
^ "Digital health platforms see surge in teleconsultations". Business Standard. 19 May 2021. Retrieved 29 December 2024.
^ "Indian health-tech market to grow to $21.3 bn by 2025: Report". Business Standard. 20 July 2021. Retrieved 29 December 2024.
^ "Indian healthtech startups face growing pains amid funding winter". Reuters. 14 June 2023. Retrieved 29 December 2024.
^ "Practo expands its digital healthcare platform to Southeast Asian markets". The Hindu Business Line. 15 February 2023. Retrieved 29 December 2024.
^ Sathe, Gopal (9 May 2019). "Is Your Medical Data Safe With Apps? Some Doctors Don't Think So". HuffPost India. Retrieved 27 June 2020.
^ Kulkarni, Prachee (25 January 2019). "Homosexuality 'cures' on Practo spark LGBTQIA community's ire". Pune Mirror. Retrieved 27 June 2020.

External links

Official website

[et2022-1] "Indian health-tech industry's evolution boosted by digital adoption". The Economic Times. 8 March 2022. Retrieved 29 December 2024.

[2] "Practo revenue up 20% to Rs 216 crore in FY22". The Economic Times. 16 December 2022. Retrieved 29 December 2024.

[mint2017-3] Chakraborty, Sayan (16 May 2017). "Can Practo take the next big leap forward?". Livemint. Retrieved 17 September 2019.

[4] "Practo: The crown prince of Indian healthcare startups". Business Standard. 23 January 2015. Retrieved 29 December 2024.

[forbes2021-5] "The State Of India's Healthcare Digital Reset". Forbes India. 15 March 2021. Retrieved 29 December 2024.

[hindu2015-6] Peerzada Abrar (24 September 2015). "Practo becomes world's largest appointment booking platform, acquires Qikwell". The Hindu. Retrieved 17 September 2019.

[7] "Healthcare startup Practo raises $55M Series D led by Tencent". TechCrunch. 17 January 2017. Retrieved 29 December 2024.

[8] "Digital health platforms see surge in teleconsultations". Business Standard. 19 May 2021. Retrieved 29 December 2024.

[9] "Indian health-tech market to grow to $21.3 bn by 2025: Report". Business Standard. 20 July 2021. Retrieved 29 December 2024.

[10] "Indian healthtech startups face growing pains amid funding winter". Reuters. 14 June 2023. Retrieved 29 December 2024.

[11] "Practo expands its digital healthcare platform to Southeast Asian markets". The Hindu Business Line. 15 February 2023. Retrieved 29 December 2024.

[huffpost-12] Sathe, Gopal (9 May 2019). "Is Your Medical Data Safe With Apps? Some Doctors Don't Think So". HuffPost India. Retrieved 27 June 2020.

[pune-mirror-13] Kulkarni, Prachee (25 January 2019). "Homosexuality 'cures' on Practo spark LGBTQIA community's ire". Pune Mirror. Retrieved 27 June 2020.

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