MediBuddy acquires ‘vHealth by Aetna’, the India health business of Aetna Inc., a CVS Health ® company.
MediBuddy, India’s largest Digital Healthcare platform announced today that it has acquired the ‘vHealth by Aetna’ business (Indian Health Organization Private Limited) in India.
‘vHealth by Aetna’, is one of India’s most innovative primary healthcare service providers. ‘vHealth by Aetna’ is a leader in the B2B healthcare space and offers subscription-based primary healthcare services such as telehealth consultations, an extensive outpatient network, pharmacy, diagnostics and dental among other benefits to customers.
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.” He further added, “vHealth by Aetna’ business has shown an impressive rate of growth in the past and with the expertise of the current team and MediBuddy’s existing strengths, we expect the combined business to grow significantly over the coming years.”
Anurag Khosla, CEO 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.”
Over the next six months, ‘vHealth by Aetna’ business will transition to be rebranded as ‘MediBuddy vHealth’. The existing IHO management team and employees across all functions will continue to be employed by IHO, which is now part of MediBuddy. Both the existing and new subscriber base of ‘vHealth by Aetna’ will have access to MediBuddy’s technology and scale prowess, leading to an enhanced customer experience. The latest acquisition will bring on board ‘vHealth by Aetna’s’ customers to MediBuddy’s platform further strengthening the existing customer base of 30 Mn+. MediBuddy recently concluded its merger with DocsApp and the company raised $125 million in a Series C funding in the first quarter of 2022.