Bengaluru-based digital healthcare platform MediBuddy, valued at over $500 million, has acquired US-based Aetna Inc’s vHealth by Aetna business (Indian Health Organization Pvt Ltd) in India for an undisclosed amount.
The vHealth by Aetna firm will be rebranded as “MediBuddy vHealth” over the next six months. The existing Indian Health Organisation (IHO) management team and employees across all functions will continue to be employed by IHO, which is now part of MediBuddy.
With this acquisition, Medibuddy can add over 30 million new subscribers to its existing subscriber base.
IHO owns and runs vHealth by Aetna, a business-to-business (B2B) healthcare company that provides customers with subscription-based primary healthcare services like telehealth consultations, an extensive outpatient network, pharmacy, diagnostics, and dental services.
“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,” said Satish Kannan, Co-founder and CEO of MediBuddy. vHealth by Aetna’s subscriber base will now have access to the healthcare services provided by MediBuddy.
“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,” said Anurag Khosla, CEO of Aetna India and IHO.
MediBuddy recently concluded its merger with DocsApp. In the first quarter of 2022, the company raised $125 million in Series C funding. In a recent restructuring exercise, it laid off 200 employees or 8% of its workforce.
