India’s largest online pharmacy startup Medlife has acquired Bengaluru-based medicine delivery start-up Myra Medicines.
The acquisition will support Medlife’s pharmacy business in accruing profits. At the same time, Medlife will also consolidate and strengthen the delivery of medicines and expand its reach to more Indian cities.
Speaking about the acquisition, Tushar Kumar, Founder and CEO, Medlife, said,”They had tried executing a small proof-of concept for express deliveries in Bengaluru last year, but found it challenging — that is when the Myra opportunity came up as a suitable fit. The team at Myra has solved this well and it will add to the overall Medlife customer experience.”
The company leverages its express delivery abilities to maintain lowest order level costs. The company claims that its on-demand model is built on the back of a best in class ordering and warehousing system that ensures orders are picked packed and dispatched post compliance and legal in just 5 minutes.
Earlier in January this year, Medlife announced that it acquired Mumbai-based Medlabz, a digital healthcare platform and a ‘diagnostics at home’ services company.
Founded in November 2014 by Tushar Kumar and Prashant Singh, Medlife began as an inventory-led e-pharmacy that helps doctors digitally manage and store patient records. With time, it has diversified to online doctor consultations, wellness products and laboratory services.