MediBuddy – a Bengaluru-based telemedicine startup and an online platform for shopping generic medicines and health supplements – acquired the vHealth by Aetna, the telehealth business of US-based managed healthcare company Aetna in India, for an undisclosed amount.
vHealth by Aetna is a virtual primary healthcare service provider in India. vHealth by Aetna operates as a B2B healthcare platform and offers subscription-based primary healthcare services such as telehealth consultations, an extensive outpatient network, pharmacy, diagnostics, dental and other benefits to customers, across India.
Commenting on the acquisition, Satish Kannan, Co-Founder and CEO at MediBuddy, said, “We made a strategic decision to go ahead with this critical acquisition as it is in line with our commitment to making high-quality healthcare accessible to a billion people.”
“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. ‘vHealth by Aetna’s subscriber base will now have the convenience and the opportunity to access the full spectrum of the healthcare services provided by MediBuddy,” said Satish Kannan.
Anurag Khosla, CEO of Aetna India and IHO, said: “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. We are confident and excited that the coming together of MediBuddy and’ vHealth by Aetna’ will not only benefit our existing ‘vHealth by Aetna’ customer base but will also advance the combined business with MediBuddy’s expertise.”
M&A activity telehealth and telemedicine sector
According to our database, over 300 telehealth and telemedicine companies have been acquired to date.
More recently, Wheel Health, a provider virtual care platform for healthcare companies and clinicians, acquired GoodRx Care’s backend virtual care business for $19.5 million in cash.
In another deal, Pfizer, a global pharmaceutical and biotechnology company, announced the acquisition of ResApp Health, a telehealth company, for $180 million.
