PharmEasy to acquire 66pc stake in Thyrocare
PharmEasy’s parent company API Holdings has acquired a 66.1 percent stake in Thyrocare Technologies Ltd (Thyrocare) from Dr A Velumani at Rs 1,300 per share, aggregating to Rs 4,546 crore.
The transaction is subject to regulatory and other applicable customary approvals. Docon Technologies Pvt Ltd, a 100 percent subsidiary of API, will be the acquirer and shall make an open offer for an additional 26 percent stake.
This marks PharmEasy’s second acquisition in 2021. Earlier in May, it acquired Medlife for an undisclosed amount, making the e-pharmacy unicorn India's largest medicine delivery platform.
In April this year, the Mumbai-headquartered startup entered the coveted billion-dollar club after raising $350 million in a Series E funding round led by Prosus Ventures and TPG growth, at a reported valuation of $1.5 billion.
Founded by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia, and Siddharth Shah, PharmEasy connects over 60,000 brick and mortar pharmacies and 4,000 doctors in 16,000 zip codes across India.
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Before you go, stay inspired with…
"We started with the sole purpose of making affordable healthcare accessible to all in 2015. PharmEasy has now covered every single pin code across the country."