Practo acquires Enlightiks to form analytics business unit
Practo makes its fifth acquisition with Bengaluru-based Enlightiks; to form the Analytics Business Unit within the company.
Practo today announced the acquisition of Enlightiks - a Bengaluru-based advanced analytics platform offering business intelligence (BI) solutions to healthcare enterprises. This is Practo's fifth acquisition, and its third in the enterprise space. The other two were Qikwell and Insta, both acquired in 2015.
The acquisition augments Practo's existing solutions, including appointment management with Qikwell and a full-stack HIMS solution with Insta.
The story of 4-year-old Enlightiks
Founded in 2012 by Shilpa Peri, Venkatesh Pagidimarri, Dr Bas Nair and Vamsi Chandra Kasivajjala, Enlightiks is an advanced analytics company focused on healthcare, with offices in the U.S. and Bangalore. Enlightiks delivers BI and predictive analytics through its Querent platform. The company claims to have more than 200 healthcare centres, including hospitals and clinics across the nation on their platform, such as Apollo Sugar Clinics Ltd, Kokilaben Dhirubhai Ambani Hospital, Inamdar Multispecialty Hospital, Fernandez Hospitals Pvt Ltd, Eye-Q Vision Pvt Ltd, Sparsh Sandor Nephrocare Services Pvt Ltd, and Ramesh Hospitals.
Querent provides actionable insights using complex mathematical, statistical, computational and cognitive models. This enables CXOs to optimise their business in real time from day one. Querent can provide accurate predictions for key business metrics and help enterprises take actions proactively that can help make a positive impact on business decisions in the short-to-medium term.
Shashank ND, Founder & CEO, Practo, said that Querent will enable Practo to help CXOs make their enterprises run more efficiently which should improve the overall quality of care and affordability.
The platform has the ability to read both structured and unstructured information and apply advanced machine learning and deep learning techniques to uncover hidden insights. It uses natural language generation (NLG) technology to provide automated insights to the business user by analysing large volumes of information residing inside hospital information systems (HIS) and other transactional systems. The platform also allows visual interpretation of information and generate useful insights for healthcare enterprises across various departments including operations, finance, quality, pricing, marketing, customer management and risk assessment.
Earlier in 2016, Practo entered the e-commerce space with the launch of Practo order, its online medicine delivery platform. The company has raised $124 million in funding till date and counts Tencent Holdings, Sequoia Capital, Yuri Milner, Matrix Partners, Altimeter Capital, Sofina, CapitalG as its investors.