PharmEasy ships pharmaceuticals and other medical supplies to Indian cities and towns. It’s similar to Grofers, but for medicine.
Pharmacy is an e-commerce site where you may buy drugs and other healthcare supplies. When someone files a prescription to PharmEasy, it is automatically routed to a nearby drugstore. Customers may get high-quality healthcare items and basics at low prices because of the business’s mobile application and web technologies.
The pharmacy offers high-quality medications that are comparable to those found in reputable hospitals and medical stores. After PharmEasy transmits your prescribed medication to the pharmacy, a delivery person receives the medications from the pharmacy while following all of the necessary safeguards and rules. After that, your order is wrapped and delivered directly.
Founders of PharmEasy
The company’s two top executives are Dhaval Shah and Saumil Parekh. PharmEasy’s founders have set their sights on becoming India’s greatest healthcare delivery company. At the time, the emphasis was on digitization to the greatest extent possible. PharmEasy is a privately held corporation that hires new employees every other day.
The organisation intended to fulfil its purpose of delivering everything linked to healthcare to customers’ doorsteps, something it is always on the verge of accomplishing. In India’s healthcare industry, digitization has become a necessary component. Every step in the sector has been digitised, from organising a doctor’s visit to delivering results and drugs. E-pharmacies like PharmEasy deserve a lot of the credit for this endeavour. Because of these e-pharmacies, India’s “health commerce industry” is expanding at unprecedented rates.
PharmEasy Business Model
PharmEasy ships drugs and other medical supplies to Indian cities and towns. It’s similar to Grofers, but for medicine. PharmEasy’s pin codes are utilised to locate the pharmacies closest to the clients. Customers can order things using the PharmEasy website or the PharmEasy mobile app. If consumers order through the mobile app, they will receive discounts of up to 20%, increasing brand awareness and bringing in new clients to PharmEasy. PharmEasy is indeed an e-pharmacy with primarily online processes that acts as a three-way link between buyers, suppliers, and the distribution network.
Acquisitions by Pharmeasy
PharmEasy’s most recent acquisition is Aknamed, a Bangalore-based healthcare supply chain management firm. According to regulatory papers, the latter has approved the sale of 975,937 equity shares to API Holdings at a price of Rs 3,155.94 in order to raise Rs 308 crores (about $42 million) from PharmEasy’s parent company. Furthermore, the corporation is said to have bought out the stakes of the company’s top 5 promoters, including its co-founders, who held about 50.67 percent of the company. Aknamed will now operate as a subsidiary of API Holdings Pvt Ltd, the parent company of PharmEasy.
In a Rs 4,546 crore agreement on June 26, 2021, PharmEasy bought 66.1 percent interests in Thyrocare, Mumbai-based Indian diagnostics, and preventive care laboratories. The acquirer was Docon Technologies Pvt Ltd, a subsidiary of API Holdings, PharmEasy’s parent firm.
PharmEasy has bought three businesses:
- Aknamed is a healthcare startup in India that aims to improve the industry’s supply chain. On September 14, 2021, PharmEasy bought Aknamed. For an initial investment of Rs 308 crores ($41.90 million), PharmEasy bought the majority interests in Aknamed. In a few months, the company would fully acquire Aknamed in a deal worth roughly Rs 1000 crores ($136.04 million).
- Thyrocare Technologies is a full-automated diagnostic laboratory that claims to be India’s first of its type. On June 26, 2021, PharmEasy bought Thyrocare. The deal size is listed as Rs 4564 crores ($620 million) in a formal agreement in which the corporation has purchased 66.1 percent ownership in Thyrocare.
- Medlife – Medlife is an internet – based retailer based in Bangalore, India, that offers home delivery. On August 18, 2020, PharmEasy purchased Medlife. The corporation paid $250 million for a majority share in Medlife.
PharmEasy Revenue Model
PharmEasy makes the majority of its money by advertising sponsored results from various pharmaceutical companies. Advertisements of this nature can be found on the home pages of such organisations. Advertising is a big source of money for this e-pharmacy, and it is used to its full potential. PharmEasy’s revenue is boosted by attractive discounts. PharmEasy also receives commissions from its clients for the healthcare products and medicines that are sold through the platform. The brand also makes money from the delivery fees that are imposed on the products.
The company is expanding at a rapid pace. The company’s income has virtually quadrupled in the last financial year, from Rs 340 crore to Rs 637 crore in FY20. Impressive! Dhaval Shah and Dharmil Sheth, via their great leadership and decision-making, are instrumental in this growth.
PharmEasy has registered its DRHP with the stock exchange regulator SEBI and plans to extend up to Rs 6,250 crores through a new share offering on November 10, 2021. According to the DRHP, the company’s existing investors would not sell any shares in the impending IPO. PharmEasy has also declared that it will seek pre-IPO financing of up to INR 1,250 crore through a private placement.