Why PharmEasy bought Thyrocare
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PharmEasy, forked out Rs 4,546 crore for a controlling stake in diagnostics firm
Thyrocare last week, becoming the first startup unicorn to acquire a listed legacy company in India. We spoke to Siddharth Shah, co-founder and CEO of API Holdings, on why he decided to buy, and to Arokiaswamy Velumani, promoter of Thyrocare, on why he decided to sell.
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It was the right time and right way to exit, Thyrocare s A Velumani says
PharmEasy is not an individual-run business but an institution, Thyrocare s founder A Velumani says, adding that he sees a lot of similarities between both the companies.
Synopsis
Arokiaswamy Velumani, who quit a government job at the Bhabha Atomic Research Centre to start Thyrocare in 1995, on why he decided to sell his company to PharmEasy and what he plans to do next.
Bengaluru | Kolkata: Arokiaswamy Velumani, promoter of Thyrocare Technologies Ltd., never once regretted quitting his job as a scientist at the Bhabha Atomic Research Centre in 1995, fascinated as he was by the success of entrepreneurs. Had he stayed on, Velumani who was earning about Rs 5,000 a month then would have retired this year, but the entrepreneurial urge beckoned and there was no looking back.
Indian data hints at runaway virus spread as daily deaths hit record By MANAS MISHRA and TANVI MEHTA, Reuters
Published May 19, 2021 6:06pm
Health workers wearing personal protective equipment (PPE) carry wood to prepare a funeral pyre for COVID-19 victims during a mass cremation at a crematorium in New Delhi, India, on April 26, 2021. REUTERS/Adnan Abidi BENGALURU Nearly two-thirds of people tested in India have shown exposure to the novel coronavirus, a chain of private laboratories said on Wednesday, indicating a runaway spread of the virus as the daily death toll rose to a record 4,529. India reported 267,334 new daily infections on Wednesday, taking its tally to 25.5 million, with a death toll of 283,248, health ministry data showed.
May 20, 2021
published at 1:39 AMReuters
Lilaben Gautambhai Modi, 80, wearing an oxygen mask, sits inside an ambulance as she waits to enter a COVID-19 hospital for treatment, amidst the spread of the coronavirus disease (Covid-19), in Ahmedabad, India, May 5, 2021.
Reuters
Nearly two-thirds of people tested in India have shown exposure to Covid-19, a chain of private laboratories said on Wednesday (May 19), indicating a runaway spread of the virus as the daily death toll rose to a record 4,529.
India reported 267,334 new daily infections on Wednesday, taking its tally to 25.5 million, the world s second highest after the United States, with a death toll of 283,248, health ministry data showed.