1mg a Bagalore based HealthKart’s online search business has acquired an Indore based platform Medd.in for booking diagnostic & imaging tests.
Medd was launched in 2015 by Arpit Kothari, Era Dwivedi and Anurag Mundhada. Initially it started their operations in Indore with 1000 app downloads in 2 months. It was operational across Indore, Nagpur, Mumbai, Bhopal, Jaipur and Bangalore.
1mg was launched in 2012 by Prashant Tandon and Sameer Maheshwari. It allows users to book appointment for at home sample collection and to receive the test results online other than selecting paper option.
Prashant Tandon, CEO of 1Mg said
“Diagnostics is a huge opportunity within ecommerce since there are more than 100,000 diagnostics labs with very few scale players. Consumer experience is also not satisfactory with issues like requirements of advance bookings, lack of transparency in pricing across labs.”
Currently it offers it services across 23 cities, and plans to cover 30 cities by the end of 2016. It claims to offer 40-60% savings on lab test. It will expand its services for booking of imaging tests including CT Scans, MRIs and X-rays.
In April 2015, 1Mg raised funding of $6 million from Intel Capital, Sequoia Capital, Omidyar Network and Co-founder of MakeMyTrip, Deep Kalra. It has also acquired Homeobuy, an online homeopathic drug startup which is now rebranded as 1MGAyush. In May 2016 it has included Tanmay Saksena, Zomato’s chief product officer, as COO.
This move will bring all the three co-founders of Medd on 1mg board. 1mg has also brought on board former Marketing Head for Gastroenterology at Abbott, Ankur Gigras. He is MBA from Stanford GSB and amp, IIT Madras alumnus. Earlier worked with McKinsey, Investment Bank William Blair and Abbott Nutrition.
Ankur Gigras said
“I believe 1mg has created an exceptional platform which is engaging consumers at scale in a very unique way. This platform opens up tremendous opportunities to change the way healthcare works – the direct connect with the patients makes the creation of patient centric models a reality; something that has been always discussed across the ecosystem, but could never get off the ground.”