The internet has taken over the world in all aspects. Not sparing any field, it is not surprising that even pharmacies have gone online. But mostly, the consumers are unaware of how they get their medicine and therefore, do not trust the e-pharmacy completely.
PharmEasy, a health tech start-up which offers services such as teleconsultation, medicine deliveries, and diagnostic tests, which also works towards keeping a transparent framework keeps their customers informed.
In 2015, two young individuals dreamt to connect patients to local pharmacies and diagnostic centres digitally. They wanted to make healthcare accessible and affordable across India through a quick and efficient service. This vision led to the discovery of PharmEasy, India’s largest healthcare aggregator. Founded by Dharmil Sheth, an MBA and his pal, Dr. Dhaval Shah, an MBBS and MBA, PharmEasy caters to the chronic-care segment through services.
The company maintains pin codes which are used to Identify pharmacies closest to the customers. Customers can either access PharmEasy’s website or use its mobile app to order items. The company has significantly improved the supply chain in the pharmaceutical sector by digitizing the process.
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Any local pharmacy store if interested can partner with PharmEasy through their website. The website also provides blogs ranging from nutrition and fitness to ortho or diabetic care
In 2016 PharmEasy was selected in the list of the top 100 Most Promising Brands in India in a comprehensive research among brands. The list was compiled by World Consulting and Research Corporation (WCRC).
Recently, on April 7th, 2021, PharmEasy’s parent company API Holdings raised $350 million invested by Prosus Ventures and US based private equity firm TPG Growth. This deal has estimated to have PharmEasy valued at $1.5 billion making it the first Indian Epharmacy to enter the unicorn club. The company said plans to connect 200,000 pharmacies in the next two years, making its
reach greater in other cities too.
Further on May 22nd, 2021, the e-pharmacy unicorn acquired its competitor Medlife for an undisclosed amount. A singular focus on consumer needs through a single platform will help cater the customers much better
The success story of PharmEasy is indeed an inspiring one. Two likeminded individuals with an idea to improve the world with a relentless thirst to continuously innovate. But, just like every other success story, PharmEasy experienced its share of troubles that the founders overcame with intelligence, dedication and determination. Be it lack of support from the regulatory bodies
or the customer mindset
Despite the adversaries faced PharmEasy stands tall as the largest E-pharmacy brand of the nation also being in the unicorn club of companies. And continues its journey to achieve many more milestones.