Medlife International Private Limited has acquired medicine-shipping app Myra Medicines in a cash and inventory deal.
Tushar Kumar, Medlife’s leader executive officer, confirmed the address VCCircle on Monday.
Myra’s founders Faizan Aziz and Anirudh Coonoor, in addition to some traders, will obtain stocks of Medlife as part of the deal, while some others will take a coins exit, Kumar stated.
“Medicine shipping is something that customers are used to moving into half-hour from their nearby pharmacy, and we want to now give them the same experience on our platform,” he stated, adding that Medlife could be able to get right of entry to a larger marketplace due to Myra’s explicit delivery abilties. “From a value angle due to the efficiencies that Myra has constructed, we can be capable of providing the explicit provider without affecting our unit economics,” he stated.
Myra – run by using Meta train Software Solutions Private Limited – turned into in advance in talks with the ANI Technologies Private Limited-run Ola Cabs, in keeping with The Economic Times. However, the one’s negotiations fell thru, following which talks with Medlife began.
According to the file, Myra’s forty five-member crew may be absorbed by Medlife, with Aziz and Coonoor heading up the product and engineering departments. The full integration of Myra’s offerings is predicted to absorb to six months.
This is the second suggested acquisition that Medlife has made these 12 months. In January, it bought Mumbai-primarily based digital healthcare platform and domestic diagnostics services organization MedLabz for an undisclosed sum. “The sophisticated diagnostic abilties offered through MedLabz will assist us in supporting our function within the diagnostics phase,” Kumar had stated of that acquisition.
Medlife turned based in 2014 by Kumar and Prashant Singh and started operations with online drug deliveries before increasing into on-line consultations with clinical experts and diagnostics. The enterprise is currently looking to improve capital from outside sources, consistent with The Economic Times.
Myra, which did not immediately reply to a request for remark, was founded in 2013. Before founding Myra, Aziz was a leader generation officer at startup Dexetra, which evolved a Siri-like voice assistant app for Android, even as Coontoor became a software program engineer at Nokia. Investors within the agency encompass Matrix Partners India and media organization Times Internet and angel traders such as Quikr co-founder Pranay Chulet and Vy Capital companion director Vamsi Duvvuri.
