Mumbai-based primary healthcare aggregator HealthAssure has acquired FitMeIn, an on-demand fitness subscription service delivered through a technology-enabled network of 2500+ fitness centers and coaches. With this transaction, HealthAssure aims to serve the healthcare needs of more than 5 million individuals in India from fitness solutions to primary care by the year-end of 2020.
Founded in 2011, HealthAssure ties up with insurance companies to help their customers with pre-policy check-ups and other diagnosis. It provides the entire spectrum of primary care experience for an individual across 1,300 cities in the country from diagnostics, pathology, consultation, pharmacy and others.
Through a mobile and web platform, FitMeIn, which was founded in 2015, allows its users to access its network in exchange for FitCoins (credits for the on-demand services on the App) across 20 cities in India. The wellness-focused start-up has served over 500,000 individuals since its inception and will look to double up that number after joining hands with HealthAssure.
THE LARGER TREND
An industry study by Indian retail fitness services market suggests that there are six million active users in India who are spending on an average $350 to $400 annually towards fitness services, amounting to $2.6 billion market size. Last July, HealthAssure announced a $2.5M Series A funding round led by Blume Ventures, an early stage venture capital fund, MobiHealthNews reported.
ON THE RECORD
“This acquisition signifies the integration of the curative and preventative healthcare platforms that will holistically cater to the growing health needs that our consumers have. HealthAssure has a unique network of primary care centers; with FitMeIn the company looks forward to augmenting its technology-enabled offering of health and wellness services that provides quality and access to its consumers,” said Varun Gera, Founder & CEO, HealthAssure.
Vishesh Goel, Co-Founder, FitMeIn added, “FitMeIn has been collaborating with the healthcare ecosystem as a core value since its inception. An integrated, technology-first model with HealthAssure will unlock exponential synergies and opportunities to successfully solve for daily health needs of customers. This alliance will allow the development of disruptive solutions for the industry.”