Two important, but unrelated, international digital health transactions made headlines in the past week: China-based Quyi, which develops medical apps, raised $40 million, and India-based Practo, which offers a practice management tool and a doctor search engine, has acquired hospital data management offering Insta Health.
The funding round for Quyi was led by Chinese search giant Baidu, according to TechNode, with participation from existing investors HighLight Capital and SB China Capital. This brings the company's total funding to at least $48.5 million.
Quyi offers three products: a patient portal that allow users to schedule appointments, view their medical information, and make payments; a medical information tool that integrates medical data from several sources; and a telemedicine system.
More than 1,000 hospitals are using Quyi's offerings, the company said, and they expect this number to reach 2,000 by the end of 2016.
In other news, Practo has acquired Insta Health, which has developed a cloud-based hospital information management offering, for $12 million.
Practo has developed two offerings: a doctor search engine that shows consumers' local doctor's availability and a practice management tool, called Practo Ray, designed primarily for health clinics that collects patient health data, but also allows doctors to prescribe medications and send texts to patients. Practo explained in a blog post that the Insta Health acquisition will help Practo expand its offerings to hospitals too.
Insta's customers will now be able to access Practo's doctor database so that they can view health information on Practo's system and check availability as well as schedule doctor visits online. Insta's existing customers include Cloudnine, Deepam Hospitals, MyDentist in India, DaVita in India and Malaysia, Skyline Hospital in Manila, NMC Group of hospitals in UAE, and Karen Hospital in Kenya.
The companies will begin to integrate Insta Health's system into Practo's products over the next few months.
Just last month, Practo raised $90 million from Tencent, Sofina, Sequoia, Google Capital, and others.
