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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Synopsis
API Holdings Siddharth Shah on what’s next for Thyrocare after the PharmEasy deal, API’s existing online drug delivery business, and what he makes of deep-pocketed rivals Reliance and Tata Group. Excerpts from the interview:
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Siddharth Shah, co-founder and chief executive of API Holdings which runs PharmEasy.
Bengaluru:Siddharth Shah, co-founder and chief executive of API Holdings which runs PharmEasy, has largely been under the radar despite continuous action in the online pharmacy space over the last 12-18 months. But last week Shah hit the headlines, when PharmEasyannounced it is buying diagnostics chain
Thyrocare, in the first instance of a unicorn acquiring a listed legacy player in India.
Conquering outpatient care: can Thyrocare help PharmEasy cement its top position in digital health?
✖ From left, Siddharth Shah, cofounder & CEO, API Holdings Ltd shakes hands with A Velumani, chairman & managing director, Thyrocare after signing the agreement of acquisition; image courtesy of PharmEasy
Synopsis
PharmEasy seems to have cemented its position as India’s largest online pharmacy firm with the addition of Thyrocare. It now has a diversified portfolio of offerings and a strong back-end support. With this added muscle, the more than six-year-old startup is now ready to compete with the likes of Tata-backed 1mg, Reliance-Netmeds, and Apollo Hospitals’ 24x7.
Online startup PharmEasy to acquire 66% stake in dignostics chain Thyrocare for Rs4,500 cr domain-b.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from domain-b.com Daily Mail and Mail on Sunday newspapers.
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