Pharmeasy acquires Medlife to create largest drug distribution platform in India

As COVID 19 rears its ugly head again in India, the online pharmacy market is on the rise. The trend has grown steadily since last year, after the official declaration of the pandemic, with people having to rely on online resources to obtain their medicines at a time when the need for quality health care has become paramount. . Today, as India’s health infrastructure continues to suffer, smart solutions are needed. With this in mind, the online pharmacy “PharmEasy” has acquired competitor Medlife, welcoming it into its family of health services.

“We are delighted to welcome Medlife to the PharmEasy family! We look forward to innovating together and delivering better experiences to our consumers, delivery staff and retail partners across the country, ”PharmEasy said in a statement. blog post announcing the acquisition.

The company did not mention financial details of the transaction.

With this merger, Medlife clients will automatically become clients of PharmEasy, with the former going out of business on May 25 (i.e. today).

Medlife customers can log into the PharmEasy app to start using their Medlife account without having to register again with the same number. Plus, all of their scanned prescriptions and saved addresses one year old will be automatically available on the PharmEasy app.

Medlife and PhamEasy operate in the same market, and this acquisition will help the latter directly gain a huge influx of new customers.

The online health insurance market has grown exponentially over the past year, a phenomenon that has paid huge dividends for PharmEasy. Its parent company API Holdings recently broken in the unicorn club with a massive $ 1.5 billion valuation. Additionally, demand has grown even more in recent months, after the second wave of COVID 19 once again resulted in closures in almost all parts of India.

Thus, PharmEasy seeks to improve its offer, and this acquisition is a step towards achieving this objective.

“This acquisition significantly strengthens our position in the healthcare industry and further helps us provide quality healthcare to more Indian households. In the future, we aim to provide better service to people, ”the company said.

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