PharmEasy and Ascent health have begun considering a new potential merger
PharmEasy has also recently appointed Abhinav Yajurvedi as the new chief technology officer
India’s e-pharmacy and drug retailers are gaining power over circulation and supply chain is serious
PharmEasy is an Indian mobile application which provides E-pharmacy, Online medicine ordering, Provides Diagnostic appointments, Doctor’s consultation and Set dosage reminders. The Mumbai based company was co-founded by Dharmil Sheth in 2015 and is now operating in more than Delhi, Noida, Gurugram, West Bengal, Karnataka, Uttar Pradesh, Rajasthan, Madhya Pradesh, Telangana, Gujrat, and Telangana. Also, in major metro cities such as Bangalore, Hyderabad, Chennai, Ahmedabad, and Indore.
PharmEasy and Ascent health have begun considering a new potential merger of the two Mumbai-based e-pharmacy companies, in what could turn out to be the biggest amalgamation in the space. The working boards of both the companies, which consider several Marque private equity and Venture capital investors such as Everrstone Capital, Kedar Mankekar, Eight Roads Ventures, and Orios Venture Partners amid their ranks, are considered to have given then in-principal assent for the all-stock transfiguration to go through.
“The stakeholders of both companies have given the green-light sign for the coalition almost three weeks back and the boards are more likely to give confirmation soon,” said by sources.
A possible amalgamation between two firms could likely see the new-setup organization come out as the largest competitor in the market on e-pharmacy, while also managing its circulation and supply chain channels, critical for disastrous for them to grow. India’s e-pharmacy and drug retailers are gaining power over circulation and supply chain is serious. Almost out of all of them, other e-pharmacy firms such as Medlife and Myntra, have invested in the market.
PharmEasy has also recently appointed Abhinav Yajurvedi as the new chief technology officer. Former software developing manager of Amazon.com and Trilogy. “As a major technology leader, Abhinav provided exceptionally to Myntra’s contribution for recording 400x growth in its revenue under his leadership. Abhinav is credited with introducing and launching the first responsive website for Myntra, which was perhaps the first e-commerce in India.” said by PharmEasy’s Spokesperson.
Yajurvedi is an IITian, who started his career with a trilogy, which is a B2B software product firm with technology-based products in the niche space arrangement management. He has also worked for other firms such as Amazon.
“We hope him to bring a lot of extra automation in our systems to assist us to create a world-class online health care platform that provides medicines and other medical facilities to every person from each corner of India,” said by PharmEasy’s CEO Dharmil Sheth.
Stay connected with us for latest updates!
Latest posts by Shubham Mishra (see all)
- Al firm ‘Haptik’ Enables Concierge Service for Samsung - April 22, 2020
- Bus Aggregator ‘Shuttl’ All Know External Funding - April 2, 2020
- EazyDiner and American Express Launches ‘EazyDiner Prime’ - March 30, 2020