Online pharmacy Netmeds has acquired online doctor consultation startup JustDoc in a cash and stock deal. The deal is expected to be worth close to ₹7.2 crores ($1million).
The news comes weeks after Netmeds raised ₹248 crores in series C round led by Daun Penh Cambodia Group.
“We were looking to add diagnostic services, given that our aim is to provide a more holistic health platform to our consumers, particularly those dealing with chronic health issues. Getting into diagnostics and telemedicine was a critical part,” Pradeep Dadha, chief executive of NetMeds.
Post acquisition, Netmeds will be absorbing the entire 8-10 member JustDoc team, along with integrating JustDoc technology.
This marks the second acquisition by Netmeds after it acquired Pluss app, an on-demand medicine delivery startup, in November 2016.
Bengaluru-based telemedicine startup JustDoc was founded by Jugal Anchalia, Abhishek Kumar, and Vikash Singh on August 2015. It offers a platform to connect patients with doctors and get online consultations over chats at any time of the day.
JustDoc offers a wide range of services like second medical opinion, book home diagnostics, and order medicine online. The healthtech startup claims to have more than 1,000 doctors for over 40 specialities and more than 100 medical conditions.
The startup is backed by marquee investors including former Infosys senior executive TV Mohandas Pai, Mohit Saxena, Co-Founder of InMobi, Raghunandan G, Founder of TaxiForSure and CEO of Vokal, along with Singapore Angel Network and Traxcn Labs.
Chennai-based Netmeds was founded by Pradeep Dadha in 2010. It provides an online marketplace offering a wide range of prescriptions and other health products across the country.
The startup claims to have served over 2 lakh customers in more than 800 cities across the country. It also provides an app which can be used to order medicines. The app is available on both Android and iOS devices.
Other players in the online pharmacy space competing with Netmeds include LifCare, Medlife, MedPlus, 1mg, and PharmEasy, among many others.