Online drugstore PharmEasy, which bought diagnostic chain Thyrocare in June, aims to raise a billion dollars at a valuation of $9 billion in its initial public offering later this year, two people directly aware of the company’s plans said. PharmEasy, founded by Dharmil Sheth and Dhaval Shah in 2015, has seen its valuation jump threefold in less than four months. In May, PharmEasy completed the acquisition of smaller rival Medlife to become India’s largest online pharmacy and healthcare aggregator. Several large groups have entered the online pharmacy segment through acquisitions and organic play. In August last year, US online retail giant Amazon launched its online pharmacy in India.

Source: Mint August 16, 2021 18:56 UTC