Tag: 1MG

PharmEasy set to acquire Thyrocare’s majority stake valued at US$600m

Frank

INDIA – PharmEasy an Indian pharma startup with a unicorn status is acquiring 66% stakes in diagnostics chain Thyrocare technologies valued at around Rs 4500 crore (US$606.6m) as it strives to bolster its online drug logistic business. PharmEasy parent company API Holdings signed a definitive agreement to acquire a 66.1% stake in Thyrocare for Rs 4,546 crore, according to an exchange filing made on Friday, the first acquisition of a listed company by an Indian unicorn. PharmEasy has a user base of 12 million, a network of 6,000 digital consultation…

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Max Healthcare collaborates with digital health solutions to launch a remote healthcare monitoring system

Frank

INDIA – Max Healthcare, a giant Indian based corporation in the healthcare sector, has launched an artificial intelligence (AI) powered device integrated patient monitoring framework, claimed to be the first in the country. The project was a success owing to the fact that Max Healthcare collaborated with digital health solutions, an Indian social business that uses technology and creativity to make high-quality health services. This was a move Max Healthcare undertook in a bid to expand its geography of care, allowing patients from across India and globally to stay connected…

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1MG now valued at US$450m after Tata group buys 51% of its stake

Frank

INDIA – IMG, an e-pharmacy retailer incorporated in 2015 that also offers teleconsultation services and operates three diagnostics labs is now worth US$450million after Tata group buys 51% of its stake to become a majority shareholder. Tata group, is an Indian public multinational conglomerate manufacturer of automobiles, airplanes and with previous affiliation to the pharma industry bought stakes worth US$230million. The e-pharmacy venture, 1MG was valued at US$242 million and had already raised US$156 million worth of capital prior to Tata group’s mega investment with a recorded a loss of…

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