Delhi based AkosMD acquires majority stake in medicine delivery startup mChemist
- ByTejika Bajaj | November 26, 2021
Delhi based telemedicine company AkosMD has acquired a 72% stake in online medicine delivery startup mChemist for an undisclosed amount.
Incepted in 2016 by Kishlay Anand, AkosMD is a telemedicine startup which provides varied services such as virtual consultations, diagnostics booking and online pharmacy for workplace wellness. The platform provides customizable plans for employees at an affordable cost which enables the employees to return to work quickly.
Talking about his views on the recent acquisition, the CEO and founder of AkosMD, Kishlay Anand said, “The partnership aims to offer a game-changing healthcare service to individuals by empowering them with expert remote healthcare services at competitive prices, thereby giving them a sense of self-sufficiency and accountability for their well-being.”
Founded in 2014 by Rajiv Gulati, mChemist is an online medicine delivery provider. The startup delivers medicines, healthcare supplements, daily wellness aids, herbal supplements and healthcare devices of different brands on its platform. The healthcare startup aims to provide a solution for the long term healthcare requirement of individuals by making medicines affordable and easily accessible.
Commenting about his startup and the online pharmaceutical space, the CEO of mChemist, Rajeev Ranjan stated, “Mail order service for chronic medicine has been a boon in developed countries. Patients, payers, and providers, all prefer home delivery of chronic medicines because it is convenient, economical and, most of all helps ensure compliance with the prescribed drug regimen by making authentic medicines available at the right time supporting remote healthcare infrastructure in India.”
The recent acquisition is likely to allow the company to cut close to 70% of the primary cost thus giving it a comparative price advantage.
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