India’s health-tech platform Medlife aims to launch 750 pharmacies across the country by the end of 2020. Currently it is present in 21 cities with 50 licensed pharmacies or fulfillment centers.
Tushar Kumar, founder and CEO, Medlife, said, “We’ve started the omnichannel where we are now looking at active acquisitions of offline retail chains. We have earmarked around $40 million (Rs 250 crore) for acquisitions which will be raised through internal accruals and we also have a commitment from the Alkem Family Trust.” These stores will act both as offline pharmacies as well as hyper-local centers for last mile delivery of medicines, he added.
Medlife will launch pharmacies mainly in tier II cities such as Indore, Chandigarh, Mangalore, Durgapur, Howrah, Surat, Nagpur, and Kanpur among others. The company plans to operate hospital pharmacies too. “The pharmacies in Fortis Hospitals will be managed by us,” Kumar said.
