Healthcare services platform
Medlife International Private Limited has acquired medicine-delivery app Myra
Medicines in a cash and stock deal. The acquisition will support Medlife’s
pharmacy business and help it accrue profits. At the same time, Medlife will
consolidate and strengthen the delivery of medicines and extend the reach to
more Indian cities.
It claims to leverage data science
and technology to automate a highly operational business their prediction
algorithm is able to ensure 95% order fulfillment with just 25 days of
inventory holding and delivery costs of fewer than 40 per order achieving near
positive unit economics.
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.
Medlife
was founded in 2014 by Kumar and Prashant Singh and began operations with
online drug deliveries before expanding into online consultations with medical
professionals and diagnostics. The company is currently looking to raise
capital from external sources. This is the second reported acquisition that
Medlife has made this year. In January, it bought Mumbai-based digital
healthcare platform and home diagnostics services company MedLabz for an undisclosed sum.
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