Medlife

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Medlife International Pvt Ltd
TypePrivate
Industry
Founded2014; 7 years ago (2014)[1]
Founders
Prashant Singh & Tushar Kumar
FateMerged with PharmEasy
Headquarters
Bangalore
,
India
Area served
India
Key people
Ananth Narayanan (CEO) Tushar Kumar, Prashant Singh
Services
RevenueIncrease ₹363.4 crore (US$48 million) (FY 2019)
OwnerPharmEasy (2021-present)
Number of employees
5000
ParentPharmEasy (100%)
Subsidiaries
  • PinHealth
  • Medlife Xpress (MyraMed)
Websitewww.medlife.com

Medlife International is an Indian online platform, which provides pharmacy, diagnostics, and e-consultation in India. It was founded in 2014 by Prashant Singh and Tushar Kumar. The company has a central laboratory based in Bangalore and delivers daily to 29 states.[2] Medlife has brought together doctors, pharmacist, path labs and consumers on a single platform. Medlife has a lot more to offer than just buying medicines online. [3][4][5][6]

History[]

The company started out as an online platform for medicine delivery and later expanded to offer online doctor consultation and diagnostic services.[7] Medlife offers one consumer-facing mobile app for accessing all three services.[8]

In 2018, Medlife was awarded India's Best Pharma Delivery e-Platform Company of the Year by Frost & Sullivan at the Fifth Annual 2018 India Best Practices Awards. Founding team Saurabh Mittal (CTO), Saurabh Agarwal (CFO) and Raghunandan Sreenivasan (COO) streed the company to over $150M ARR within four years of incorporation.[9] In November, Medlife acquired healthcare start-up EClinic.[10]

In August 2019, Ananth Narayanan (former CEO of Myntra) joined Medlife as the Co-Founder and Chief Executive Officer.[2][11]

According to a Frost and Sullivan report Medlife owns 30 per cent of the e-Pharma market share in India.[12][13]

In May 2020, Medlife goes multilingual, offered Hindi language in there app.[14]

Acquisition[]

In May 2021, Medlife was acquired by PharmEasy.[15]

In 2019, it acquired Medlabz,[16] a digital healthcare platform, and MyraMed, a medicine-delivery startup.[17][18][19]

In 2018 it acquired EClinic24/7 a health tech startup.[20][21]

Funding[]

Medlife received roughly $30 million from Alkem Laboratories's Family Office. Kumar and Singh also claim to have put $20 million of personal funds into the business.[10]

In April 2019, Medlife received $17 million in funding from Kumar's family trust.[7] In December 2019, Medlife raised Rs 110 Cr ($15 million) from Wilson Global Opportunities Fund in debt funding.[22]

References[]

  1. ^ "Medlife International Private Limited Information - Medlife International Private Limited Company Profile, Medlife International Private Limited News on The Economic Times". The Economic Times. Retrieved 2020-04-09.
  2. ^ a b "Ex-Myntra chief executive Ananth Narayanan joins Medlife". www.businesstoday.in.
  3. ^ "Medlife acquires Bengaluru-based Myra Medicines". @businessline.
  4. ^ "Medlife launches #GoodHealthIsFreedom campaign ahead of Independence Day - ET BrandEquity". ETBrandEquity.com.
  5. ^ "Medlife acquires Mumbai-based MedLabz". @businessline.
  6. ^ Malik, Yuvraj (June 13, 2019). "SoftBank in talks to invest $70 million in Indian e-pharmacy Medlife" – via Business Standard.
  7. ^ a b "Online healthcare startup Medlife gets $17 mn in fresh funding". Techcircle. April 12, 2019.
  8. ^ "Online healthcare startup Medlife readies $30 mn booster shot". VCCircle. August 28, 2017.
  9. ^ "Medlife receives Frost and Sullivan's award for India's best pharma delivery e-platform company". October 17, 2018.
  10. ^ a b "Medlife acquires healthcare start-up EClinic, plans $100 million expansion". @businessline.
  11. ^ "Medlife hopes to achieve 100% growth by the end of this financial year, will take its diagnostics offering to 50 cities within the next 24 months". Business Insider.
  12. ^ "We will be the largest e-Diagnostic player by March 2019: Prashant Singh, MedLife - Exchange4media". Indian Advertising Media & Marketing News – exchange4media.
  13. ^ Bureau, BW Online. "Medlife Clocks Run Rate of 1000 Cr in FY 2019 Amidst Steady Growth". BW Disrupt.
  14. ^ Awasthi, Prashasti. "E-healthcare platform Medlife goes multilingual to deepen its reach". @businessline. Retrieved 2021-03-23.
  15. ^ The Economic Times. "Pharmeasy buys Medlife, creates India's largest online pharmacy".
  16. ^ "Medlife International acquires healthcare start-up Medlabz". @businessline.
  17. ^ "Medlife Acquires Myra Medicines For Express Delivery And Data Science Capabilities". Forbes India. Retrieved 2020-04-09.
  18. ^ "Medlife acquires e-pharmacy Myra to expand delivery services". VCCircle. May 6, 2019.
  19. ^ "Medlife buys Bengaluru-based medicine delivery startup Myra Medicines". www.pharmabiz.com.
  20. ^ "Medlife acquires healthcare start-up EClinic, plans $100 million expansion". @businessline. Retrieved 2020-04-09.
  21. ^ inventiva (2018-11-22). "Medlife Acquires HealthTech Startup EClinic24/7; To Invest $100 Mn for E-Pharma Expansion". Inventiva. Retrieved 2020-04-09.
  22. ^ "Medlife Raises $15.5 Mn From Wilson Global Opportunities Fund For Growth". Inc42 Media. 2019-12-18. Retrieved 2021-03-23.

External links[]

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