Vakrangee ties up with PharmEasy to provide healthcare services across its platform

INDIA – Vakrangee Digital Ventures Limited, a wholly owned subsidiary of Vakrangee Ltd has partnered with PharmEasy to provide online medicines and healthcare services to India’s unserved and underserved populations.

PharmEasy serves the healthcare needs by offering a wide range of prescription medicines, OTC pharmaceutical, and other consumer healthcare products, comprehensive diagnostic test services, and teleconsultations.

Vakrangee, through its Kendras, and BharatEasy Mobile Superaap will be able to provide medicines and healthcare services in remote areas of India as part of the partnership.

Vakrangee will provide medicines and healthcare services to communities in unserved/underserved areas of the country through 70% of Nextgen Vakrangee Kendra outlets in Tier-5 and 6 towns.

Customers will also be able to take advantage of various discount offers and save significantly on their purchases of medicines and health products.

Vakrangee Kendra will be its customers’ one-stop shop for all online medicines and healthcare service requirements across the value chain.

PharmEasy serves the healthcare needs by offering a wide range of prescription (medicines), OTC pharmaceutical, and other consumer healthcare products, comprehensive diagnostic test services, and teleconsultations.

Vakrangee will provide services across the platform, including a physical network and a digital mobile app. Vakrangee Kendras exclusively provide a wide range of banking, insurance, ATM, Assisted E-Commerce, e-Governance, and logistics products and services.

Commenting on this partnership, Mr. Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, “We are happy to partner with PharmEasy to facilitate our customers with online Medicines & Healthcare service in both urban as well as rural remote areas.”

With this partnership, we have strategically added a complete bouquet of online medicines & healthcare services at our Nextgen Kendras & BharatEasy Mobile App making them into a one-stop for all the healthcare requirements of our customers.

E-pharma start-up PharmEasy is looking to raise Rs 6,250 crore ($840 million) in the upcoming Initial Public Offering (IPO), according to the company’s filings with the Securities Exchange Board of India (SEBI).

However, PharmEasy’s IPO application has been met with opposition, as the Confederation of All India Traders (CAIT) has written to the Securities and Exchange Board of India (SEBI) requesting that the regulator reject the initial public offering tendered by API Holdings, which owns PharmEasy, arguing that the online pharmacy’s business model is entirely based on gross illegality.

Earlier in November, the Delhi-based South Chemists and Distributors Association (SCDA) requested that the IPO be rejected on the grounds that online pharmacies are not legal in India.

The concerns raised by SCDA and CAIT highlight the importance of online pharmacy and healthcare regulations.

The Indian government published a draft policy to regulate e-pharmacies in August 2018, but it has yet to be finalized.

Despite the lack of regulatory clarity, the e-pharmacy sector is rapidly expanding, with many large players entering the market.

Reliance acquired NetMeds in August, and Tata acquired 1MG in June of this year.

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