Practo

Health-tech platform Practo on Thursday announced its expansion into the US with the launch of its care navigation platform in the world's major healthcare market. Practo has seen rapid organic adoption since its soft launch in the US last year, listing more than 2 lakh doctors on its platform and reaching an annualised GMV run-rate of over USD 75 million, underscoring early momentum in the world's largest healthcare market, the company said in a statement. "The US launch signals something larger than expansion; it shows that an India-built healthcare technology can meaningfully solve for depth, trust, and navigation even in the world's most complex systems, Practo Co-founder & CEO Shashank ND stated. The platform is also expanding its US team to strengthen its on-ground presence and accelerate onboarding of independent practices, clinics, hospitals, and large healthcare chains onto the platform, it stated. In parallel, the company is evaluating strategic acquisitions to deepen ...

Digital healthcare platform Practo is targeting a $1 billion annualised GMV run-rate by June 2026, with US operations expected to add $250-300 million as it gears up for an IPO by end-2026

The company, which achieved profitability in the March 2024 quarter, was valued at $418 million as of April 2022, according to data from market intelligence platform Tracxn

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Health-tech platform Practo has reported a 22 per cent growth in revenue to Rs 240 crore for the 2023-24 financial year as it achieved a gross merchandise value of Rs 3,500 crore in the year, according to a company statement. The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 from Rs 99 crore in the previous financial year, the statement said. Practo stated that also achieved its first full profitable quarter in the last quarter of 2023-24 and is on its path to sustained profitability with consecutive profit in the preceding 12 months ending September 2024. Practo cofounder and CEO Shashank ND said, "Our goal has always been on improving healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results. The company delivered a gross merchandise value (GMV) of Rs 3,500 crore in the year ended on March 31, 2024. GMV is the total value of goods and services sol

Practo reported a 68 per cent compound annual growth rate (CAGR) from FY22 to FY24. The company's Ebitda margins rose to 40 per cent from near zero in FY22

Practo's co-founder and chief executive officer Shashank ND said that they have been focusing on profitability and so far in FY24, they have been cash flow positive

The healthcare technology and services firm expects to grow at 100% y-o-y delivering about Rs 400 cr in revenue in FY24 and achieving positive cash flow and a full profitable year

The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth

Executive has been associated with Practo since its inception and has been a driving force behind the technology, growth and business strategy.

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Adoption of digital healthcare will increase in next 4-5 years in India's $150 billion healthcare market and Practo will play a leading role in the transition

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Most of the health plan users are from metro cities like Delhi, Bengaluru, and Mumbai

The last three years saw us fine-tune our business model and get closer to our vision of building quality health care for a billion Indians, said CEO N D