Online pharmacy Medlife has acquired Myra, a Bengaluru-based medicine-delivery startup, in an all-stock deal. This acquisition will enable Medlife to strengthen its pharma business and accrue profits.
Post acquisition, Medlife will be gaining access to Myra’s express delivery segment and expand the service to 22 cities in the coming months.
Tushar Kumar, Founder and CEO, Medlife, said, “Our acquisition of Myra Medicines will be a game changer in the delivery of quality services for access to medicines. 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 the one-hour delivery window.”
“Medlife is currently servicing over 20,000 deliveries every day across 29 states and having Myra on board will further strengthen its standing as a dependable and reliable partner for people's health,” he added.
Faizan Aziz and Anirudh Coontoor, Co-Founders of Myra Medicines, stated, “Myra was established with the vision of ensuring timely access to medicines across the country. We have implemented the model successfully in Bengaluru; but now with Medlife's support, the services will be extended to several other cities.”