Acquisition of OneCare by ACKO
StartUp Acko General Insurance acquires Healthtech company OneCare.This acquisition is a strategic move to redefine and provide excellent healthcare services and address various customer oriented requirements with a holistic approach.
ACKO is a healthcare insurance company that addresses various aspects of customers insurance requirement while OneCare is into digital chronic care management in healthcare space that provides and combines advanced wearables, data-driven insights, accessibility of physical clinics and virtual care teams.
The deal has been made in all cash in an undisclosed amount. The aim of this acquisition remains in strengthening ACKO’s healthcare services beyond insurance and redefine the healthcare landscape of its customers.
Rakesh Shivran and Sagar Bhat, OneCare’s co-founders, will join the leadership team of ACKO to enhance its health-tech services, the companies said in a statement.
About ACKO
General Insurance start up ACKO is known for its tech-first approach, has been active in the health insurance sector. Founded in 2016, ACKO entered the retail health insurance segment in March 2023.
It has one of the largest market shares in embedded insurance products like mobility and gadget insurance in partnership with 50+ players in the internet ecosystem such as Oyo, redBus, Zomato, HDB Financial Services and Urban Company.
About ONECARE
OneCare was founded in 2021 in Bengaluru and is a venture-capital-supported health-tech company.
OneCare offers an omnichannel care model, integrating wearables, data insights, and both physical and virtual care vision of a tech-enabled healthcare ecosystem.
Varun Dua, ACKO’s Founder and CEO, stated, “We are redefining healthcare for our customers. OneCare’s focus on customer-first care matches our goals. Integrating their capabilities will enhance our insurance services with advanced clinical care.”
Shivran and Bhat noted, “ACKO’s vision fits our goals. This acquisition provides a chance to expand our impact and improve care delivery across the country.”
