Insurtech Platform ACKO Acquires OneCare to Revolutionise Chronic Care Management By acquiring OneCare, ACKO seeks to enhance its customer experience with cutting-edge clinical care, aligning with its vision of a tech-enabled, customer-first healthcare ecosystem.
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Digital insurance provider ACKO announced that it has acquired the digital chronic care management company OneCare in an undisclosed all-cash transaction.
The acquisition is a strategic move to re-emphasise ACKO's broader vision of being a comprehensive healthcare provider to its customers, going beyond insurance services, as per the official release.
Rakesh Shivran and Sagar Bhat, co-founders of OneCare, will also be joining the leadership team of ACKO to enhance the care offerings of the company.
Varun Dua, Founder and CEO of ACKO, said, "We're constantly redefining the healthcare landscape for our customers at ACKO. We have acquired OneCare, whose core business values emphasise a customer-first approach and comprehensive care, sharing our common goals to alleviate customer pain points. 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."
Founded in 2016 by Varun Dua, ACKO revolutionises insurance with a paperless, direct-to-consumer model. It's known for pioneering auto insurance and recently expanded into health insurance, launching a unique Extended Battery Warranty for EVs in partnership with Ather and Hero.
ACKO's growth includes acquiring Parentlane and collaborating with platforms like PhonePe and MyGate.
The company claims to boast a significant market share in embedded insurance, partnering with over 50 players such as Oyo, redBus, Zomato, HDB Financial Services, and Urban Company. Through its Group Health Insurance, it has insured more than 8 lakh lives, reaching over 78 million unique customers in just nine years.
Founded in 2021 by Rakesh Shivran and Sagar Bhat, Bengaluru-based OneCare has built an omnichannel model of chronic care delivery built around advanced wearables and clinical insights, delivered through offline clinics and online care teams. It claims to integrate over 100 offline clinics with its omnichannel care solution.
Rakesh Shivran and Sagar Bhat, Co-founders of OneCare, said, "ACKO's vision aligns perfectly with our goals. We see a tremendous opportunity to scale our impact and to transform the way care gets delivered to millions across the country."
