The collaboration is thought about transformative for the Indian healthcare sectorNew Delhi: Digital medicine delivery store PharmEasy will obtain 66.1 percent stake in diagnostic chain Thyrocare for Rs 4,546 crore.
API Holdings Ltd, the moms and dad business of PharmEasy, announced the signing of conclusive files to obtain 66.1 percent stake in Thyrocare from Dr A Velumani and affiliates at a price of Rs 1,300 per share.
We will supply a first-rate customer experience in diagnostics equaling our pharmacy experience by leveraging technology, and building on top of the enormous scale and genuinely pan-India presence of Thyrocare, said 32-year-old Siddharth Shah, Co-founder and CEO of API Holdings.
It is our aim to deliver all out-patient healthcare product or services to every Indian within 24 hr, he said.A statement issued by the company said Shah met 62-year-old diagnostic services veteran A Velumani, Chairman of Thyrocare, in monsoon-drenched Lonavala over masala chai and the landmark deal was struck in a record time.
The special reach and strength of Thyrocare in diagnostics combined with young and vibrant group of PharmEasy will bring in much better health care solutions for the common man nationwide, said Velumani.He will independently get minority non-controlling stake of less than 5 percent in API as part of a series of equity investments by existing and new investors of API.The collaboration between PharmEasy and Thyrocare is thought about transformative for the Indian health care sector.
The synergies of both will speed up shipment of high-quality diagnostic and OPD services to nearly 80 crore Indians, the companies said in a statement.Thyrocare carries out over 11 crore tests every year and is the biggest B2B gamer in diagnostics space with a network of 3,330 collection centres throughout 2,000 towns in the country.PharmEasy has a base of 1.2 crore consumers, a network of 6,000 digital assessment clinics and 90,000 partner merchants.