Policybazaar acquires Visit health app

Mumbai: Policybazaar has acquired Visit Internet Services (VISPL) through its subsidiary Docprime Services. VISPL is a startup that operates the Visit health app, which uses artificial intelligence to connect patients to medical specialists from across the country.

The Delhi-based company was founded by BITS Pilani students Anurag Prasad, Vaibhav Singh, Shasvat Tripathi and Chetan Anand who came up with the concept in 2016. In an exchange filing, PB Fintech — the owner of Policybazaar brand — said that the cost of acquisition was Rs 22.4 crore in one or more tranches and would lead to an initial acquisition of 98.4%. This would increase to 100% through the secondary acquisition of preference shares from existing shareholders of VISPL.

The exchange filing said that VISPL’s objective was to develop and provide on-demand tele-healthcare services through web and mobile applications by connecting healthcare providers and help seekers through the use of technology for providing integrated and internet-based healthcare, medical and other related services in India as well as abroad.

According to the filing by Policybazaar, VISPL had a turnover of Rs 23 lakh for FY19, Rs 1.8 lakh for FY20 and Rs 76.4 lakh for FY21. Docprime services recently announced that it has signed up to provide free health lockers to Indians.