On Tuesday 25th May 2021, PharmEasy, an E-pharmacy startup gave an announcement that it had acquired another peer startup Medlife. This acquisition has been done for a 100% stake by Pharmeasy’s parent company API holding. The amount had not been disclosed however this deal breaks the record by making Pharmeasy number one on the list of the largest platform that provides the medicine through delivery. They are expecting to provide their services to two million families every month. Medlife will discontinue its operations from 25th May 2021 onwards.
In September 2020, Pharmeasy shared a proposal of acquisition to CCI (competition commission of India) to take a stake in Medlife. However after 8 months approx this deal is finalized and PharmEasy becomes India’s first E-pharmacy unicorn.
There will be no disturbance to existing users of Medlife, as Pharmeasy will eventually absorb them and provide the option to set up new accounts by login into the Pharmeasy website or app. Existing customers need not change their mobile number it will continue in use. All the necessary details like prescription and address saved earlier will get transfer to the new platform. The E-commerce world has seen exponential growth in the last few years and people are now fond of shopping online. Precisely after the outbreak of COVID business took the root of digitalization whether it is a small enterprise or big organization. The health sector realizes the importance of time and cost involved to make available any medicine to relevant customers, the online platform brings more enduring to the ongoing supply and demand shortage.
Pharmeasy was founded in 2015 by Dharmil Seth and Dhaval Shah. Their primary focus is on test sample collection, teleconsultation, and easing the supply of essential medicine to the doorstep. This sector developing day by day and attracts big companies like tata, reliance to invest in these growing startups.
