WATCH: Daily Rounds co-founder on turning into a global startup after Japan-based M3's stake buy
Doctor network DailyRounds was recently acquired by M3, an 18-year-old Japanese company. In a video interview, DailyRounds Co-founder Deepu Sebin reveals why M3 chose them for a foray into the medical test preparation business in India.
Most of us gain experience on the job. We make mistakes and learn, but if there is one profession where this does not work, it is healthcare, particularly for doctors. Deepu Sebin understood this during his residency and realised that public case studies are crucial for a doctor’s learning.
As a doctor, Deepu knew that getting one’s hands on these case studies was a challenge. This led him to start DailyRounds, a mobile and web-based application for doctors and medical students in India.
He started DailyRounds in 2015 with Priyaank Choubey, and Nimmi Cherian, and has had the backing of investors Accel Partners, Kae Capital, Powerhouse Ventures, and Japanese VC Beenext.
In an interaction with YourStory right after the deal was made public, Deepu delves into how the acquisition took place and how the two entities found matching synergy in the healthcare space.
Deepu explains how like for any other relationship building exercise the acquisition to M3 too focussed on mutual synergies. With his signature quiet and composed demeanour, the Tech30 startup founder says:
“We had met the team for an investment. But after meeting the team, acquisition seemed like the right route. The company acquired a majority stake in DailyRounds. This gave us the opportunity to operate like a startup on a global canvas with the know-how of an 18-year-old company.”
Deepu explains how the synergies between the startup and the company matched in building the network on a global level. “Also, as certain industry verticals go, founders and investors need to be ready to be in it for the long haul,” says Deepu.
M3 India at present operates Health Impetus Private Limited (HIPL), which runs online portals that help Indian doctors stay abreast with the latest in research, medical news, evidence-based medicine, practice guidelines, expert articles, etc. HIPL is a joint venture announced in association with HealthCare at HOME India, in August 2016.