Multiples Private Equity-backed Acko General Insurance has acquired digital chronic care management company OneCare as it focusses on becoming a healthcare service provider.
The deal was an all-cash transaction, though the firms did not disclose the financial deals. OneCare provides advanced wearables, data-driven insights, and follows an omnichannel approach with both physical clinics and virtual care teams, the firms said.
Acko said the acquisition is a key component of its strategy to build a healthcare ecosystem to address various aspects of a customer’s health insurance needs, from protection to prevention, care and recovery.
Dr. Rakesh Shivran and Sagar Bhat, co-founders of OneCare, will be joining the leadership team of Acko.
“Integrating OneCare’s capabilities will help us weave cutting-edge clinical care directly into our customers’ insurance experiences, ensuring they receive the best possible care,” Varun Dua, founder and chief executive of Acko, said.