Medlife

Medlife International, is an India online platform, which provides pharmacy, diagnostics, and e-consultation in India. It was founded in 2014 by Prashant Singh and Tushar Kumar. The company has a central laboratory based in Bengaluru and delivers daily to 29 states.[2] Medlife has brought together doctors, pharmacist, path labs and consumers on a single platform. Medlife has a lot more to offer than just buying medicines online. [3][4][5][6]

Medlife International Pvt Ltd
Private
Industry
Founded2014 (2014)[1]
Founders
  • Prashant Singh
  • Tushar Kumar
Headquarters
Bengaluru
,
India
Area served
India
Key people
Ananth Narayanan (CEO)
Services
Revenue ₹400 crore (US$56 million) (FY 2019)
OwnerMedlife Wellness Retail Private Limited
Number of employees
5000
Subsidiaries
  • PinHealth
  • Medlife Xpress (MyraMed)
Websitewww.medlife.com

History

The company started out as an online platform for medicine delivery and later expanded to offer online doctor consultation and diagnostic services.[7] Medlife offers one consumer-facing mobile app for accessing all three services.[8]

In 2018, Medlife was awarded India's Best Pharma Delivery e-Platform Company of the Year by Frost & Sullivan at the Fifth Annual 2018 India Best Practices Awards.[9] In November, Medlife acquired healthcare start-up EClinic.[10]

In August 2019, Ananth Narayanan (former CEO of Myntra) joined Medlife as the Co-Founder and Chief Executive Officer.[2][11]

According to a Frost and Sullivan report Medlife owns 30 per cent of the e-Pharma market share in India.[12][13]

In May 2020, Medlife goes multilingual, offered Hindi language in there app.[14]

Acquisition

In 2019, it acquired Medlabz,[15] a digital healthcare platform, and MyraMed, a medicine-delivery startup.[16][17][18]

In 2018 it acquired EClinic24/7 a health tech startup.[19][20]

Funding

Medlife received roughly $30 million from Alkem Laboratories's Family Office. Kumar and Singh also claim to have put $20 million of personal funds into the business.[10]

In April 2019, Medlife received $17 million in funding from Kumar's family trust.[7] In December 2019, Medlife raised Rs 110 Cr ($15 million) from Wilson Global Opportunities Fund in debt funding.[21][22]

Services

Medlife deliver to 25,000+ pin codes over 2500+ cities and 29 states across India. Medicine home delivery made easy.

  • Pharmacy - Buy medicines online
  • Medlife Labs -Book free collection of samples from home for laboratory tests
  • Doctor Consultation - Consult a doctor from the comfort of your home
  • OTC - Order healthcare and wellness products
  • Medlife Essentials - Get herbal supplements and varied range of accessories

References
  1. "Medlife International Private Limited Information - Medlife International Private Limited Company Profile, Medlife International Private Limited News on The Economic Times". The Economic Times. Retrieved 2020-04-09.
  2. "Ex-Myntra chief executive Ananth Narayanan joins Medlife". www.businesstoday.in.
  3. "Medlife acquires Bengaluru-based Myra Medicines". @businessline.
  4. "Medlife launches #GoodHealthIsFreedom campaign ahead of Independence Day - ET BrandEquity". ETBrandEquity.com.
  5. Bureau, Our. "Medlife acquires Mumbai-based MedLabz". @businessline.
  6. Malik, Yuvraj (June 13, 2019). "SoftBank in talks to invest $70 million in Indian e-pharmacy Medlife" – via Business Standard.
  7. "Online healthcare startup Medlife gets $17 mn in fresh funding". Techcircle. April 12, 2019.
  8. "Online healthcare startup Medlife readies $30 mn booster shot". VCCircle. August 28, 2017.
  9. "Medlife receives Frost and Sullivan's award for India's best pharma delivery e-platform company". October 17, 2018.
  10. Bureau, Our. "Medlife acquires healthcare start-up EClinic, plans $100 million expansion". @businessline.
  11. "Medlife hopes to achieve 100% growth by the end of this financial year, will take its diagnostics offering to 50 cities within the next 24 months". Business Insider.
  12. "We will be the largest e-Diagnostic player by March 2019: Prashant Singh, MedLife - Exchange4media". Indian Advertising Media & Marketing News – exchange4media.
  13. Bureau, BW Online. "Medlife Clocks Run Rate of 1000 Cr in FY 2019 Amidst Steady Growth". BW Disrupt.
  14. https://www.thehindubusinessline.com/companies/e-healthcare-platform-medlife-goes-multilingual-to-deepen-its-reach/article31541575.ece
  15. Bureau, Our. "Medlife International acquires healthcare start-up Medlabz". @businessline.
  16. "Medlife Acquires Myra Medicines For Express Delivery And Data Science Capabilities". Forbes India. Retrieved 2020-04-09.
  17. "Medlife acquires e-pharmacy Myra to expand delivery services". VCCircle. May 6, 2019.
  18. "Medlife buys Bengaluru-based medicine delivery startup Myra Medicines". www.pharmabiz.com.
  19. Bureau, Our. "Medlife acquires healthcare start-up EClinic, plans $100 million expansion". @businessline. Retrieved 2020-04-09.
  20. inventiva (2018-11-22). "Medlife Acquires HealthTech Startup EClinic24/7; To Invest $100 Mn for E-Pharma Expansion". Inventiva. Retrieved 2020-04-09.
  21. https://www.crunchbase.com/organization/medlife-international-private-limited
  22. https://inc42.com/buzz/medlife-raises-15-5-mn-from-wilson-global-opportunities-fund-for-growth/
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