15 May 2020 | News
Acquisition completes the user engagement journey from wellness to prevention for the health-tech startup
(From left) Founder & CEO of HealthAssure- Mr. Varun Gera, Co-founders of FitMeIn Nidhisha Varshney and Vishesh Goel
Mumbai based HealthAssure, India’s foremost health-tech primary care services platform with a 25% of market share in the country acquires FitMeIn, an on-demand fitness subscription service delivered through a technology enabled network of 2500+ fitness centers and coaches. The acquisition will enable HealthAssure to address the comprehensive healthcare needs of its customer from wellness, preventive and insurance care services that the primary healthcare aggregator is known for. With this transaction, HealthAssure aims to serve the healthcare needs of more than 5 million individuals in the country from fitness solutions to primary care by the year end of 2020.
HealthAssure is a pioneer in the primary healthcare space that provides the entire spectrum of primary care experience for an individual across 1,300 cities from diagnostics, pathology, consultation, pharmacy, etc. Founded in 2011, HealthAssure provides access to its platform to almost all Insurers in the market and many large Corporates viz. Max Bupa, Cigna, Aditya Birla Health, Loreal, Deloitte, Deutsche Bank, etc. Recently it has launched first of its kind OPD insurance products for B2C segment.
FitMeIn is a wellness ecosystem that provides convenient access to a network of 2500+ Fitness Centres, Fitness Coaches, Nutritionists & Mental health practitioners across tier 1 & tier 2 cities. The startup, through a mobile and web platform, allows 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 5,00,000 individuals since its inception and will look to double up that number after joining hands with HealthAssure. With this acquisition, HealthAssure aims to integrate the offerings of both the brands under a single umbrella thereby extending their services from primary care to include preventive care through fitness and lifestyle choices.
Speaking on the occasion, Mr. Varun Gera, Founder & CEO, HealthAssure says, “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. Looking at the large business opportunity in the sector we are enthused to build a more comprehensive offering for our customers in line with our goal of bringing good health closer to all. The team at FitMein has shown
formidable progress within the fitness and wellness space in a short span of time and we look forward to combining forces that will enable us to design and deliver a more futuristic healthcare solution enabled by cutting edge technology, as we step into the new normal.”
Vishesh Goel, Co-Founder, FitMeIn adds, “FitMeIn has been collaborating with the healthcare ecosystem as a core value since 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.” As a part of the combined team Vishesh will head the product team to drive innovation for deeper customer engagement and providing a seamless experience of the customer journey from fitness to cure.
“FitMeIn’s vision of providing accessible & standardized fitness experience runs in parallel with HealthAssure’s philosophy of bringing health closer to people. Teaming up with HealthAssure will expedite our vision of creating an inclusive healthcare ecosystem that makes pursuing healthy choices easier for consumers. We're thrilled and look forward to achieving our goals together” says Nidhisha Varshney, Co-founder, FitMeIn. Nidhisha will be heading the wellness function at HealthAssure, driving a greater emphasis on customer retention and engagement through enhanced digital and offline fitness
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.