MedPlus

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MedPlus Health Services Pvt. Ltd.
TypePrivate
IndustryPharmacy Retail Stores
FoundedHyderabad, 2006
FounderMadhukar Gangadi
Headquarters
Hyderabad
,
India
Number of locations
1,300[1] (2015)
Area served
India
Number of employees
approx. 10,000 in retail[1] (2015)
SubsidiariesMedPlusMart.com
MedPlusLab.com
MedPlusLens.com
MedPlusIndia.com

MedPlus is an Indian pharmacy retailer headquartered in Hyderabad, India.[2][3]

Overview[]

MedPlus is the second largest pharmacy chain in India. As of 2015, it operates 1,300 stores across 150 cities in India and employs about 10,000 employees in retail.[1]

MedPlus sells prescription and OTC medicines, FMCG products, vitamins and other nutrition supplements, and opticals.[4] It also offers clinical laboratory services and physician consultation services in Hyderabad, Vijayawada and Bengaluru, India. The company owns and runs ePharmacy[5] and an online clinical lab[6] service.[7]

History[]

MedPlus was founded in 2006 by Madhukar Gangadi. The company's first store was launched in Hyderabad.[8] Initially operating under the Aushadhi brand name, it was rebranded as MedPlus after the opening of the first 48 stores.[citation needed]

The company opened pharmacies in the western states of Gujarat and Rajasthan in 2007 but had to shut down and exit operations due to recurring losses. It relaunched stores in Ahmedabad, Gujarat in 2014.[citation needed]

MedPlus Health Services Limited has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India (SEBI) for initial public offering (IPO) of INR 16,387.16 million on 16 August, 2021. [9]

Criticisms[]

The AIOCD (All India organization of Chemists & Druggists) called for a nationwide strike on 14 October 2015 against online sale of drugs and criticized ePharmacies[10] like MedPlusMart.com as illegal and a threat to the interests of around 8.5 lakhs chemists [11] around India. MedPlus defended its online sales policy[12] as being in compliance with the current drug act and as a valuable service to its customers.

See also[]

References[]

  1. ^ Jump up to: a b c "MedPlus to raise up to $70 mn, launches online lab services". Retrieved 3 February 2016.
  2. ^ "Hyderabad's online pharma chains help take meds to the marooned". The Times of India. 4 December 2015. Retrieved 17 August 2018.
  3. ^ Ltd, Researchmoz Global Pvt. "India Pharma Retail Market 2015 - Market is projected to exhibit a CAGR of over 14.22% globally during 2015–2020F: ResearchMoz". GlobeNewswire News Room. Retrieved 22 January 2016.
  4. ^ ReportBuyer. "India Pharma Retail Market: Trends, Opportunities and Forecasts (2015-2020F) (By Segment - Standalone & Chained, By Region, Customer Survey, Market Entry Strategy, Value Chain, Private Label Brands, Margins and Revenue Contribution)". www.prnewswire.com. Retrieved 22 January 2016.
  5. ^ "Soon you will be able to buy medicines online!". Business Insider. Retrieved 22 January 2016.
  6. ^ "MedPlus launches online clinical lab service". The Hindu. 10 December 2015. ISSN 0971-751X. Retrieved 22 January 2016.
  7. ^ "MedPluslab.com to make lab testing convenient and affordable". www.pharmabiz.com. Retrieved 22 January 2016.
  8. ^ Phadnis, Aneesh (18 September 2019). "Pharmacy retail chain MedPlus plans entry into Mumbai in next 3 months". Business Standard. Archived from the original on 26 February 2020. Retrieved 26 February 2020.
  9. ^ must, profit (16 August 2021). "Medplus IPO". profitmust. Retrieved 16 August 2021.
  10. ^ "End of e-pharmacy days? - Times of India". The Times of India. Retrieved 22 January 2016.
  11. ^ "Online pharma portal runs into resistance from store chemists - Times of India". The Times of India. Retrieved 22 January 2016.
  12. ^ "Some form of online pharma presence inevitable: MedPlus". Deccan Herald. Retrieved 22 January 2016.

External links[]

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