General Atlantic-backed Acko Acquires Parentlane
The technology platform empowers young millennial parents with proactive healthcare solutions from preconception to the most critical early childhood development phase, the company said in a statement on Thursday
ACKO has acquired Parentlane, a digital health platform in the maternity and child health space. The technology platform empowers young millennial parents with proactive healthcare solutions from preconception to the most critical early childhood development phase, the company said in a statement on Thursday.
The platform, combined with ACKO's core insurance offering, will deliver personalised content and services to enable better healthcare choices, informed decisions, and improved outcomes, the statement said.
ACKO wants to be every customer's friendly companion during all stages of their healthcare journey. For young millennial parents, who comprise most of ACKO's customer segment, maternal care is the first in-depth hospitalisation or healthcare experience. With this acquisition, ACKO improves its ability to not only provide continuum care for maternal care but also aims to develop specialised care programmes for many other conditions.
While speaking about the acquisition, Varun Dua, Founder of ACKO, said, "At ACKO, we are constantly working towards strengthening the customer value proposition, and the Parentlane acquisition is a step in that direction. As both ACKO and Parentlane seek to address the problems in healthcare, there is total alignment in our respective philosophies. Parentlane has built a successful engagement-led technology platform for maternal health, which we believe will play a significant role in helping us provide comprehensive healthcare service to our customers and expand beyond the core insurance offerings by partnering with the healthcare ecosystem."
Vijay Anand, Co-Founder and CEO of Parentlane, will join the Acko leadership team and spearhead strategic initiatives for the company.
While speaking about the acquisition, Vijay said, "Parentlane has been a gratifying experience for us as we offered comprehensive care to young couples during one of their most exciting and important life milestones. During this journey, we discovered the significant value that insurance brings to customers and how it could potentially become the primary gateway for consumers to access healthcare services and improve their health outcomes."
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