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Practo expands into critical care with new assured network

LivemintLivemint ยท 1y ago
Practo expands into critical care with new assured network
Medial

Practo, India's largest health services platform, has introduced Practo Assured, a service that connects patients with top-rated hospitals and clinics for major ailments. The service evaluates medical establishments based on over 100 parameters, from infrastructure to patient feedback, and focuses on critical and elective treatments. Practo Assured has already partnered with 300 hospitals across eight cities and plans to scale to 1,000 hospitals in 20 cities. This expansion into critical care positions Practo against other healthtech platforms and corporate hospital networks. The company aims to deepen its presence in India's fragmented healthcare market and plans to expand into tier-2 cities.

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Mr. Sumit Arora, Director, Alniche Lifesciences: Driving Healthcare Evolution with Strategic Vision

VCCircleVCCircle ยท 1y ago
Mr. Sumit Arora, Director, Alniche Lifesciences: Driving Healthcare Evolution with Strategic Vision
Medial

Mr. Sumit Arora is the Director of Alniche Lifesciences, where he has played a pivotal role in driving the company's growth and expansion in the medical field. With a focus on Nephrology and Critical Care medicine, Alniche Lifesciences has become a leading player in these sectors in India. Mr. Arora's strategic vision has led to the introduction of new divisions, including Gastro, Neuro, and Cardio. He emphasizes the importance of a strong distribution network and personally manages distribution channels to ensure timely delivery of specialized products. Alniche Lifesciences aims to increase the availability of medicines globally, with a focus on Renal Care, Neuro, Cardio, and Critical Care segments. The company has also ventured into pharma manufacturing through EffiKasia Lifesciences. Mr. Arora prioritizes active participation in conferences to stay connected with doctors and keep abreast of scientific developments. The company's future plans include launching new divisions and expanding geographically. Mr. Arora has received recognition for his contributions to the healthcare industry.

After UAE debut, Practo launches in US with $75 Mn GMV run-rate

EntrackrEntrackr ยท 9d ago
After UAE debut, Practo launches in US with $75 Mn GMV run-rate
Medial

After UAE debut, Practo launches in US with $75 Mn GMV run-rate IPO-bound digital healthcare platform Practo has today announced the launch of its care navigation platform in the US market after a strong debut in the UAE earlier this year. According to the company, Practo has listed over 200,000 doctors across specialties in the US and crossed an annualised GMV run rate of $75 million, supported by more than 1 million users on the platform. As per the company, traffic in the US has grown nearly six-fold since launch, with monthly active users crossing 300,000. Early adoption has been strongest in dental and mental health, with over 500 doctors across more than 150 clinics, hospitals, and independent practices monetised through paid subscriptions, the press release added. The US entry comes at a time when Practo has significantly strengthened its financial footing. As reported earlier by Entrackr, the company turned operating EBITDA-positive for the first time in FY25 with an operating profit of Rs 15 crore, compared to a loss of Rs 17 crore in FY24. Its revenue from operations stood at Rs 234 crore, while GMV remained steady at Rs 3,500 crore, alongside positive cash flows. Shashank ND, co-founder and CEO of Practo, said the โ€œUS launch reflects the platformโ€™s ability to solve for trust, depth, and care navigation even in complex healthcare systems.โ€ He added that Practo is building outcomes-led healthcare infrastructure powered by rich data, with the broader goal of improving health outcomes through more informed and accountable care decisions. Following its US launch, Practo is expanding its on-ground team and is also evaluating strategic acquisitions to deepen provider networks and broaden specialty coverage. With India, the UAE, and now the US in focus, the company aims to scale its international revenues while sustaining profitability, further strengthening its IPO narrative.

ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business

VCCircleVCCircle ยท 1y ago
ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business
Medial

Mumbai-based pharmaceutical company Eris Lifesciences, backed by private equity firm ChrysCapital, is set to acquire Biocon Biologics' India branded formulation business for $150 million. The deal, including insulin brands Basalog and Insugen, is expected to be finalized by 15 April, 2024. Eris aims to strengthen its diabetes care franchise and expand into the oncology and critical care sectors. The acquisition also includes a 10-year supply agreement with Biocon Biologics. This move follows Eris's previous acquisitions in the neuropsychiatry and dermatology sectors. Eris Lifesciences operates with a domestic-branded formulations business model and has a distribution network of over 2,000 stockists and 500,000 chemists.

Practo appoints Jagnoor Singh as chief operating officer

EntrackrEntrackr ยท 11m ago
Practo appoints Jagnoor Singh as chief operating officer
Medial

Practo appoints Jagnoor Singh as chief operating officer Health services platform Practo has announced the appointment of Jagnoor Singh as its Chief Operating Officer (COO). According to Practo, this appointment aligns with its vision of improving health outcomes while building a profitable, innovative, and user-focused business. Jagnoor will focus on establishing robust processes, ensuring seamless execution, and driving accelerated growth. He will lead go-to-market (GTM) strategies, deepening penetration in existing markets and expanding into new ones. Singh brings over 16 years of leadership experience from Airtel, OYO, Mondelez, and Unacademy. He has deep expertise in sales, marketing, and business development, with a proven track record of implementing structured, scalable processes that enhance execution, optimize operations, and drive exponential growth. In his new role, Jagnoor will work closely with Shashank ND, Co-founder & CEO of Practo, to expand the companyโ€™s footprint and accelerate its reach, driving impact in the healthcare sector. Jagnoor Singh, on his appointment as Chief Operating Officer, said, โ€œI am truly honored to join Practo at such a pivotal moment for the healthcare industry. Practoโ€™s focus on improving health outcomes and its tech-first approach resonate deeply with me as we build impactful solutions that benefit both patients and providers. I look forward to contributing to Practoโ€™s journey by building strong teams and implementing strategies that drive sustainable growth.โ€ Practo aims to enhance health outcomes by enabling patients and healthcare providers to make informed decisions. The platform leverages computer science and data science to ensure that every interaction contributes to better health results. Practo claims to operate in 22 countries, connecting over 40 crore patients with more than 500,000 doctors and healthcare providers across more than 700 cities.

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