PharmEasy acquires Medlife, becomes India's largest e-pharma company
In the largest merger in the field of online pharmacy online, unicorn PharmEasy acquired Medlife for an undisclosed price.
According to the agreement, Medlife users will become customers of Pharmeasy by ceasing to operate Medlife from now on. The combined company will serve about two million customers every month, the company said.
“This acquisition greatly strengthens our position in the healthcare industry, and contributes significantly to the provision of quality health care to many Indian families. Going forward, we aim to work better for the people, ”said Dhaval Shah, founder of FarmEasy, in a LinkedIn post.
“Medlife customers just need to sign in to the PharmEasy app to start using their Medlife account with the same mobile number. All online transcripts and archive addresses starting at the end of the year will be available in the PharmEasy app, ”he added. In addition to users, FarmEasy will also be riding to Medlife's marketing partners.
Business Standard previously reported that the agreement would value Medlife's shareholder value of approximately $ 200-250 million. Last month, FarmEasy became the first company to join the unicorn club after raising $ 323 million from API Holdings, Prosus Ventures and TPG Growth, valued at $ 1.5 billion.
India's health sector which is expected to be a $ 16 billion opportunity in FY25, growing from $ 1.2 billion has seen a lot of action recently with bigwigs like Tatas, Amazon and Reliance entering the category. It is expected to affect 57 million homes, which is driven by positive acceptance from both buyers and suppliers as well as supportive government and investment laws, according to Redseer.
According to reports, when Tata Group signed a direct agreement with 1mg to buy about 65 per cent initially, Reliance Industries Ltd led by Mukesh Ambani acquired a 60 per cent shareholding of online pharmacy Netmeds for Rs 620. commerce Amazon has also entered the online pharmaceutical category and introduced Amazon Pharmacy which allows customers to order prescription over-the-counter medications, basic health equipment and Ayurveda medications from certified retailers.
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