Prateek Kumar Profile picture
Mumbaikar | Work: Equities | IITK | Love Running and Painting | GrowMore everyday

Jun 26, 2021, 9 tweets

#Pharmeasy - Health Tech #unicorn – to acquire Majority stake (66%) in #Thyrocare. Open offer for an additional 26% stake at Rs1300/sh. With this diagnostics bet, it completes its exhaustive portfolio of "Wholistic Outpatient Healthcare Ecosystem". (1/9)

Gujju Gang from Ghatkopar (as founders call themselves) make it big in what is first-ever acquisition of publicly listed firm by the unicorn. New funding tied up at #valuations of USD4bn. Promoters of Thyrocare will also be investing in Pharmeasy for 5% stake. (2/9)

Pharmeasy founders started as venture called dialhealth.com (2012-13) which failed, followed by Dial Health chain of retail stores which also failed. After 2 failed ventures, they moved to distribution business (& B2B) that was a success (2015). (3/9)

Pharmeasy has registered user base of 12mn+, a network of 6,000 digital consultation clinics and 90,000+ partner retailers across country. Company moves 1.5mn deliveries to consumer and as well 1.5mn deliveries to retailers. (4/9)

With Thyrocare acquisition, Pharmeasy gets well entrenched into Information, Consultation, Test & Treatment business – both into B2B/B2C offerings and integrated Supply Chain. Technology to address friction in system: Assurance, Verification, Visibility, Pricing, Storage. (5/9)

Pharmeasy has (1) leading online pharmacy brand, (2) RetailIO – a B2B pharma marketplace & seller connecting Distributors to Pharmacy, and (3) DocOn – a consultation and EMR platform. Thyrocare brings in the leading diagnostic solution on the platter. (6/9)

Funding for transaction tied up with marquee investors – Temasek, TPG, Naspers, Think Capital, BCapital, Orios Ventures, Kotak PE etc. Stake of founders in PharmEasy is ~7% as of now and management team owns another 6%. (7/9)

Pharmeasy will make focused investment to accelerate in the Consumer business (8/9)

Pharmeasy completed acquisition of Medlife in May-21. Medlife already had small presence in diagnostic business. Thus, Diagnostics accounts for small mix of PharmEasy’s annual sales as of now. Pictures from Presentation (9/9)

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