- May 26, 2021
- Posted by: Admin
- Category: Healthcare App Development
This merger will bring India’s largest online healthcare delivery platform into existence, according to the statement of PharmEasy cofounder Dhaval Shah on LinkedIn. PharmEasy is a unicorn of the E-Pharmacy industry and this pharmacy giant finally proclaimed the merger with its competitor Medlife. The execution of the merger took place on 25th May 2021 after eight months of getting approval from the Competition Commission of India (CCI). The proposal of the merger was submitted last year in August month by PharmEasy to CCI. This acquisition is taking up 100% equity shares of Medlife. In return, the promoters of Medlife will be receiving a 19.95% stake in the merged entity which will reach near a sum of $ 1 billion. The merged entity will be serving over 2 million consumers per month.
Being acquired by PharmEasy, Medlife will be ceasing its entire operations, as a result, users will be unable to use the website of Medlife, but the users can use their existing credentials with the new entity and enjoy the services. The profiles of consumers with their previous data dated back to a year will be available in the new portal which includes their saved addresses and uploaded prescriptions.
In a digital blog,Pharmeasy mentioned that they are looking forward to connecting with the partners of Medlife to keep the process going as it is. The ultimate intention of this merger is to cater to a better experience in all means to the customers as well as retailers.
The inception of PharmEasy is dated back to the year 2015 and the idea was led by DharmilSheth, Dhaval Shah, and MikhilInnani. This venture is serving more than 1000 cities covering more than 22,000 pin codes and the services offered by this organization are medicine delivery, sample collection for a diagnostic test, and also telemedicine. With the merger of Medlife and PharmEasy, the activities of the e-pharmacy industry can be expected at a higher level, just like other great e-commerce players such as Amazon which has initiated with Amazon Pharmacy vertical, and Flipkart, etc.
PharmEasy further says that the zeal to serve a world-class experience to the users is the agenda with this acquisition by making the process of merger very smooth. The users of Medlife just need to download the app of PharmEasy and can continue using it in the same way as their previous portal with the same credentials. The new entity post-merger entity assures exclusive offers, faster delivery, and many more benefits for the users with a widerange of options in the services and products offered.
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