API Holdings Limited, the parent company behind the renowned online healthcare platform PharmEasy, is India’s largest digital healthcare aggregator by gross merchandise value (GMV). Founded in 2015 and headquartered in Mumbai, API Holdings operates an integrated, end-to-end healthcare ecosystem that connects consumers, pharmacies, diagnostic labs, hospitals, and healthcare professionals via its digital platform.
PharmEasy offers seamless access to medicines, diagnostics, teleconsultations, and wellness solutions to millions of users nationwide. Leveraging AI-driven technology and a wide delivery network, API Holdings aims to transform healthcare access in India, driving convenience, affordability, and improved health outcomes.
Despite operating losses as the company aggressively expands and invests in infrastructure, API Holdings demonstrates strong top-line growth with revenues reaching ₹5,664 crore in FY24, emphasizing scale and future profitability potential.
PharmEasy has acquired various healthcare companies to provide better service at affordable costs:
Medlife Acquisition – In January 2021, API Holdings acquired Medlife, then one of India’s leading digital healthcare companies in terms of GMV of products sold on its platform in the financial year 2021, as per RedSeer Report.
Thyrocare Acquisition – In September 2021, API Holdings acquired Thyrocare, India’s largest diagnostic player by test volumes, as per RedSeer Report. Thyrocare’s addition to API Holdings has enabled a pan-India diagnostics presence spanning more than 550 districts (as of June 30, 2021) and an ability to serve a large portion of India’s population with a diagnostic test. Thyrocare provided API Holdings the ability to offer diagnostics services to customers across the country, thereby adding complimentary services to our portfolio of offerings. Our technology and digital products will also bring necessary digital capabilities to Thyrocare’s business.
Aknamed Acquisition – In September 2021, we acquired Aknamed, which strengthened our technology-enabled supplier business of supplying pharmaceutical products, medical consumables, and other surgical products to hospitals, clinics and medical centres. Aknamed is one of the largest tech-enabled suppliers of specialty medicines, pharmaceutical drugs, surgical and medical devices, and other medical products to doctors and hospitals in India, on the basis of revenue in Financial Year 2021 as per the RedSeer Report. Aknamed complements our capability and scale across distribution to pharmacies with the ability to now serve hospitals, clinics and medical centres across the country. Aknamed’s portfolio of products as well as presence in specialty therapies also offers API Holdings the capabilities to roll out chronic care programs across different specialty segments. We can also use Aknamed’s presence in surgical items and other consumables to cross-sell these products to pharmacies on Retailio.
Investment in Marg ERP Limited – In October 2021, we acquired a 49.17% stake in Marg, one of India’s largest ERP providers for pharmaceutical retailers and wholesalers with over 200,000 pharmacies and wholesalers served as of Fiscal 2021, as per the RedSeer Report. Through the investment in Marg ERP Limited, we now have access to a technology user base and an ERP system that can integrate deeply with API Holdings’ technology products including Retailio, Redbook and PharmEasy to create a seamless technology layer that can strengthen our ecosystem-based approach to offer healthcare services and digital payments amongst others as well as market intelligence through the large volume of data that our integrated technology layers can create. Marg ERP Limited along with Retailio would also allow us to build relationships with pharmacies and wholesalers as our products power both operations as well as commerce opportunities.
