PharmEasy further loses its valuation to $456 million: Report
Health-tech company PharmEasy has drastically lost its valuation to now around $456 million, from its all-time high of $5.6 billion.
PharmEasy on Wednesday said it has completed the acquisition of Medlife to become the largest healthcare delivery platform in India.
All the users of Medlife would be migrated to PharmEasy, the company said in a statement.
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“This acquisition significantly strengthens our position in the healthcare industry, and further helps us in providing quality healthcare to a greater number of Indian households,” PharmEasy Co-founder Dharmil Sheth said.
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The online pharmacy has now become the largest healthcare delivery platform across the country, catering to more than two million families every single month, PharmEasy said.
PharmEasy will also be looking forward to onboarding Medlife’s retail partners and continuing their journey with the brand, it added.
PharmEasy currently works with around 80,000 pharmacies and intends to expand that to 1,20,000 outlets across 100 cities by the end of 2021, the company said.
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