Online Medical Platform ‘PharmEasy’ acquires rival ‘Medlife’ to become India’s Largest e-pharma Company
- PharmEasy, an online medical platform, has acquired its rival Medlife, to create India’s largest online pharmacy.
- Medlife has now ceased to operate with effect from May 25, 2021, following the merger with PharmEasy.
- With this acquisition, Medlife users will automatically become PharmEasy users.
- API Holdings, the parent of PharmEasy, has acquired 100 percent equity shares of Medlife in return for 19.59 percent equity share capital, estimated at $250 million.
- With this total combined entity set, PharmEasy will serve around 2 million customers a month.
Source: Business Standard