Runa Capital, Prostor Capital and Fastlane Ventures Merge Assets To Create Leading Medical Internet Resource

September 26, 2013

Runa Capital, Prostor Capital and Fastlane Ventures have merged some of their assets to create a leading online medical Internet company and consolidate the Internet health care segment. The deal combines two resources: VitaPortal (online provider of personalized health services, asset of Fastlane Ventures and Prostor Capital) and ZdorovieOnline (developer of electronic medical record (EMR) software, asset of Runa Capital).

As a result of the merger, VitaPortal will implement EMR technology and will operate the largest online services in digital health on Russian internet. To maintain the balance of shares and develop a number of additional services under the VitaPortal brand, Runa Capital and the founder of ZdorovieOnline Aleksey Kandikov keep investing in the merged company: $1 million by Runa Capital and $350,000 by Aleksey Kandikov.

As a result of the deal, VitaPortal will be top in terms of attracting investment among medically oriented start-ups in Russia. Currently, its shareholders include: Fastlane Ventures, venture capital funds Prostor Capital and Runa Capital, and also well-known business angel Esther Dyson.

The main purpose of the merger is to create the top medical online resource on the Russian market. More than 700,000 registered users already use personalized services of VitaPortal. According to investor forecasts, as a result of the merger in 2014, this figure will increase to 5 million users.

The investments received during the round will be used to create a number of new online services and further develop the health data personalization technology. Particular attention will be paid to services on mobile platforms.