MediBuddy buys Indian health business of US-based Aetna
With this acquisition, Medibuddy will be able to expand its existing subscriber base to over 30 million users.
Bengaluru-based digital healthcare platform , which is valued at over $500 million, has bought US-based Aetna Inc's vHealth by Aetna business (Indian Health Organization Pvt Ltd) in India for an undisclosed amount.
Over the next six months, the vHealth by Aetna business will be rebranded as ‘MediBuddy vHealth’. The existing Indian Health Organisation (IHO) management team and employees across all functions will continue to be employed by IHO, which is now part of MediBuddy.
With this acquisition, Medibuddy will be able to expand its existing subscriber base to over 30 million users.
Owned and operated by IHO, vHealth by Aetna operates in the business-to-business (B2B) healthcare space offering subscription-based primary healthcare services like telehealth consultations, an extensive outpatient network, pharmacy, diagnostics, and dental services among others to customers.
"We believe that this acquisition will further strengthen our market leadership by giving impetus to our distribution channels, helping us in scaling our operations and offerings to a much wider section of the population," said Satish Kannan, Co-founder, and CEO of MediBuddy.
vHealth by Aetna’s subscriber base will now have access to the healthcare services provided by MediBuddy. “MediBuddy and vHealth by Aetna share a common vision of a future, where primary and digital healthcare comes together to redefine accessibility and delivery of quality healthcare services," said Anurag Khosla, CEO Aetna India and IHO.
MediBuddy recently concluded its merger with DocsApp. The company raised $125 million in a Series C funding in the first quarter of 2022. Just last month, it laid off 8% of its workforce, around 200 people, across all departments in a restructuring exercise.
Edited by Akanksha Sarma