• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 13, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home India News

PharmEasy acquires 66% of Thyrocare stakes for ₹4,546 cr

by Balraj
June 26, 2021 - Updated On June 27, 2021
in India News, Startups, Trending
Reading Time: 2 mins read
0
PharmEasy logo
TwitterWhatsappLinkedin

In its attempt to expand and enhance its diagnostics business, online pharmacy startup PharmEasy has taken up the majority in the Thyrocare diagnostic chain technologies. According to an exchange filing issued on Friday, PharmEasy parent API Holdings signed a formal deal to buy a 66.1% stake in Thyrocare for Rs 4,546 crore, the first acquisition of a publicly listed company by an Indian unicorn.

You might also like

Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

Weekly Business News: Everything from Fipola’s shutdown to the Kuku FM battle

Docon Technologies, a subsidiary of API Holdings, will also make an open offer for a 26% share in the company. In addition, Dr. A Velumani, chairman and managing director of Thyrocare, will independently purchase a minority non-controlling position in API valued at less than 5% as part of a series of equity investments by existing and new API investors, according to Pharmeasy.

PharmEasy has acquired 66% of Thyrocare stakes for ₹4,546 cr

With over 110 million tests completed annually, Thyrocare claims to be the country’s largest diagnostics provider by volume. It has a network of about 3,330 collecting centers spread across India’s more than 2,000 cities. With 1 mega central processing lab, 2 zonal processing labs, and 13 regional processing labs spread around the country, the company employs a multi-lab approach. However, the transaction is still pending regulatory approval, although it was completed at a discounted INR 1,300 per share price.

“The unique reach and strength of Thyrocare in Diagnostics blended with a young and dynamic team of PharmEasy will bring in better healthcare solutions for common man nationwide,” stated Dr. Velumani, Chairman and MD of Thyrocare.

While in April this year, PharmEasy secured $350 million to become a unicorn at an estimated valuation of $1,5 billion, Thyrocare’s market capitalization is INR 7,660 Cr. At the closing of the day, their shares traded on INR 1,450.35. In the last year, the company share price grew 187% – a moment in which the country was slipping into the pandemic of Covid-19.

Online Pharmacy Unicorn has 12 Mn+ customers, a network of over 6,000 digital consulting clinics, and over 90,000 partner stores in the entire country. Every month, it provides pharmacy and diagnostics services to over 1 million patients, conducts 300,000+ consultations, and issues over 1 million digital prescriptions.

In the preceding year, the healthcare startups in the country have seen a series of great acquisitions. Tata Digital announced the majority-stakeholder acquisition for 1MG on June 10. In addition, Reliance Retail acquired 60% of Netmeds equity stake for $83 million (INR 620 Cr). In contrast, Amazon built its own pharmacy to offer healthcare services throughout India.

Tags: expansionHealthcare startupsOnline pharmacy unicornPharmEasyReliance RetailTata DigitalThyrocare
Tweet54SendShare15
Previous Post

Motorola Edge 20 series specification surfaced online before launch

Next Post

Apple goes after leaks, pre-launch of its new products

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

by Ishaan Negi
July 12, 2025
0
Google’s $2.4 Billion Windsurf Deal Heats Up AI Talent Wars

In a power move that signals escalating competition in the artificial intelligence sector, Google has secured a high-profile deal with coding AI startup Windsurf, paying a staggering $2.4...

Read more

Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

by Thomas Babychan
July 12, 2025
0
Eutelsat OneWeb Raises €1.5 Billion with Strategic Support from UK, France, and Bharti

Eutelsat Group has completed a major financial move by securing €1.5 billion through a capital increase. This step is expected to reshape its position in the global satellite...

Read more

Weekly Business News: Everything from Fipola’s shutdown to the Kuku FM battle

by Ishaan Negi
July 12, 2025
0
Weekly Business News: Top business updates in this week

Fipola’s Sudden Shutdown Leaves Employees Stranded Once regarded as a rising star in the D2C meat market, Chennai-based meat delivery firm Fipola Retail India Pvt. Ltd. abruptly shut...

Read more
Next Post
Apple goes after leaks, pre-launch of its new products

Apple goes after leaks, pre-launch of its new products

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?