Startups Money

Maverick Capital-backed digital health platform 1mg acquires MediAngels

14 Dec, 2016

For-1mg-Story-TC_ThinkstockPhotos-521910263_leadOnline drug marketplace 1mg has acquired Mumbai-based online hospital MediAngels to strengthen its position in the eHealth space in India, according to a press statement.

With this acquisition, 1mg is entering into consultations, corporate health services and insurance partnerships. Gurgaon-based Bright Lifecare Pvt. Ltd, operator of 1mg, was founded in 2012 by Sameer Maheshwari and Prashant Tandon.

"With MediAngels platform, our consumers can now access a deep network of over 450 super specialists across India and the world, and we also get an entry into the corporate health space through this platform. We now offer services to consumers as well as corporate customers which includes ePharmacy, eDiagnostics, eConsultations and Super Speciality Second Opinions as well," said Tandon, co-founder and CEO of 1mg.

MediAngels.com was founded in 2011 by super-specialist doctors Dr Arbinder Singal and Dr Debraj Shome, with the purpose of bringing specialist doctors to everyone's reach. "With rapid adoption of technology and web on mobile, the time is right for eHealth platforms to serve the basic need of every Indian -- complete the cycle of healthcare for the consumer at a click. Within 1mg ecosystem, we plan to scale up second opinions and drive B2B engagements with more insurers and corporates," said Dr Singal.

1mg had acquired Medd.in, a platform that operates a marketplace to book diagnostic and imaging tests, for an undisclosed amount in July this year. This acquisition came barely two months after 1mg raised Rs 100 crore ($15 million) in a Series B round led by Maverick Capital Ventures, the venture capital arm of US-based hedge fund Maverick Capital, and existing investors Sequoia Capital and Omidyar Network.

In June 2015, the company acquired homeobuy.com for an undisclosed amount, making its entry into the ayurvedic and homeopathic medicines categories.