Practo, an online platform for doctor discovery and healthcare technology has cut out almost 150 employees from the company after annual evaluation. As per company, every year some of its employees have to leave based on annual performance.
One of the representative said, “The same has been followed today and 150 of our colleagues are leaving us. This is a combination of performance and natural redundancies that emerge as we evolve our businesses and integrate our five acquisitions. We continue to rapidly grow our consumer and enterprise businesses and will continue to hire talent across the board.”
It has almost 1500 to 2000 employees, and recently in January, company has raised a handsome amount of fund almost $55 million backed by Chinese firm Tencent. So this letting go does not have any relationship with shortage of money which has commonly been the pillar for reduction by other new firms.
Some of the sources reveals the fact the company would be concerned for restructuring and this decision would be based on the revenues which are not meeting the desired result. He said that, “There are 153 million internet users in India, but the number of searches for doctors and hospitals in the top 50 cities in India in 2016 is estimated at 6 million, or about 4% of total internet users. People choose doctors based on references and moving them to online searches is tough.”
Practo is also involved in a business in which it is providing the software related to healthcare and that are used by doctors, diagnostic centers, clinics, and hospitals and this business includes most part of the revenues. The recent five acquisitions are aimed to strengthen this division. Many eminent hospitals are included in its customers’ list such as Max Healthcare, Manipal Hospitals, Sparsh, Hrudayalaya, etc.
Recently, the company said that it is about to enhance its platform and allow access by more stakeholders and healthcare including pharmaceutical companies, insurers, medical devices companies. This enhancement is based on the expectation to develop a boulevard for more revenue generation.