ACKO acquires OneCare to expand healthcare ecosystem

ACKO has acquired OneCare, a digital chronic care management company, in an all-cash transaction aimed at expanding its healthcare services beyond insurance. As part of the deal, OneCare’s co-founders, Rakesh Shivran and Sagar Bhat, will join ACKO’s leadership team to bolster its health-tech offerings.

ACKO, renowned for its technology-driven approach, has been actively involved in the health insurance sector. OneCare, which provides an integrated care model through wearables, data analytics, and a combination of physical and virtual care, aligns well with ACKO’s vision of a technology-enabled healthcare system. ACKO’s Founder and CEO, Varun Dua, emphasized that this acquisition will help redefine healthcare for customers by merging OneCare’s customer-centric care with ACKO’s insurance services.

Shivran and Bhat expressed their enthusiasm, noting that ACKO’s vision aligns with their own objectives. They see this acquisition as an opportunity to broaden their impact and enhance care delivery nationwide.

ACKO, which launched its retail health insurance segment in March 2023, holds a significant market share in embedded insurance products, collaborating with over 50 internet ecosystem partners including Oyo, redBus, Zomato, HDB Financial Services, and Urban Company. OneCare, founded in 2021 in Bengaluru, is a venture-capital-backed health-tech firm.