Bengaluru grounded digital healthcare establishment MediBuddy has acquired the ‘vHealth by Aetna ’ business (Indian Health Organisation or IHO). ‘vHealth by Aetna’ is a leader in the B2B healthcare space and offers subscription-grounded primary healthcare services similar to telehealth consultations, an expansive inpatient network, drugstore, diagnostics and dental among other benefits to guests. Aetna is one of the leading diversified health care benefits companies in the US.
Over the coming six months, ‘vHealth by Aetna’ business will transition to be rebranded as ‘MediBuddy vHealth’. The IHO operation team and workers across all functions will continue to be employed by IHO, which is now part of MediBuddy. Both the being and new subscriber base of ‘vHealth by Aetna’ will have access to MediBuddy’s technology and scale prowess, leading to an enhanced client experience. The rearmost accession will bring on board ‘vHealth by Aetna’s’ guests to MediBuddy’s platform further strengthening the client base of 30 Mn. MediBuddy concluded its junction with DocsApp and the company raised $ 125 million in a Series C backing in the first quarter of 2022. vHealth presently has a subscription count of around1.4 Mn in India. As per Kannan, vHealth will contribute roughly around 30 of MediBuddy’s topline by FY24. MediBuddy posted a net loss of INR 249.2 Cr in FY22, a 142 increase from INR 102.7 Cr in FY21.
Profit from operations rose 58.6 to INR 234.06 Cr from INR 147.5 Cr in FY21. Responding to a question about the growing loss, Kannan said that the incipiency is in a growth phase and is in addresses to acquirefurther companies. “We’ve a strong unit economics. At the phase we’re growing, I anticipate to be EBITDA positive in the coming two times, ” he added. The incipiency last raised $ 125 Mn in its Series C round of backing from Quadria Capital and Lightrock India. It also saw participation from being investors including Bessemer Venture mates, India Life lores Fund III, Rebright mates, JAFCO Asia, and TEAMFUND LP. The incipiency has raised over$ 200 Mn across multiple rounds till date.