March 29, 2024 00:42 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 | NIA arrests key conspirator in Bengaluru cafe blast case | Actor Govinda returns to politics after 14 years of 'vanvas', joins Eknath Shinde camp | 'To browbeat and bully others is vintage Congress culture': PM posts after 600 lawyers write to CJI | Comments on our electoral, legal processes completely unacceptable: India on US' remarks over Kejriwal arrest
Medlife acquires medicine delivery startup Myra Medicines

Medlife acquires medicine delivery startup Myra Medicines

India Blooms News Service | @indiablooms | 06 May 2019, 12:12 pm

Mumbai, May 6 (UNI) Medlife, India’s largest online pharmacy has announced the acquisition of Bengaluru-based medicine delivery startup Myra Medicines.

Medlife recently crossed the 1000 cr plus run rate as of March 2019.

The company expects to achieve overall sales of 1500 cr with an exit run rate of 2000 cr over the next financial year. Myra’s acquisition will enable Medlife to strengthen its pharma business and accrue profits, a release said.

While Myra was earlier handling about 4000 deliveries a day in Bengaluru alone, its services are now ready to be scaled across 22 cities this quarter. Medlife’s physical network, 50,000 SKUs and multiple city presence will allow Myra to offer express delivery service across the network. Medlife’s full-stack inventory will also

enable Myra Medicines to increase margins and meet the increasing demand making the latter profitable by this quarter itself.

Tushar Kumar, Founder and CEO, Medlife, commented, 'Our acquisition of Myra Medicines will be a game changer in the delivery of quality services for access to medicines. We are currently servicing over 20,000 deliveries every day across 29 states and having Myra on board will further strengthen our standing as a

dependable and reliable partner for people’s health. Our target for the next quarter is to achieve a 30-minute to 1-hour delivery window.'

Prashant Singh, Founder & Director Medlife, added, 'Myra’s cutting-edge technology and algorithms offering great customer experience and efficiency of operations will now be integrated with

Medlife. This will quadruple our capabilities and ensure operational profitability. Myra has a passionate and brilliant team. This coupled with Medlife’s experience of scale, is bound to be a win-win 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.