Deal Corner October 06, 2015
Practo acquires Qikwell Technologies
Practo Pte. Limited (“Practo”) has agreed to acquire 100% of Qikwell Technologies India Private Limited (“Qikwell”).
Established in 2011, Qikwell is a Bangalore based technology company focusing in the healthcare domain, especially improving access to healthcare. Qikwell has specialized expertise in web-based discovery of hospitals/ doctors and scheduling of appointments, and has tied up with more than 250 hospitals across 19 cities in India. Qikwell provides unique solutions to hospitals, clinics and doctors to ensure a pleasant patient experience. Qikwell also coordinates with over 6000 doctors, including practitioners from fields such as neurology and gynecology.
Practo, started in 2008, provides online management services for medical practitioners/ hospitals and also serves as a doctor discovery platform. Practo has approximately 2 lakh doctors and 8,000 hospitals on its database. Upon completion of the current acquisition, Practo is set to become the world’s largest healthcare platform in respect of web-based appointment booking of doctors.
We, at Nishith Desai Associates, acted as legal, tax and regulatory counsel to Qikwell on this transaction.