Portea Medical Acquires MedybizPharma to Accelerate Penetration into India’s Chronic Disease Market
Healthcare platform Portea Medical has acquired pharmaceutical distributor MedybizPharma in a move that will enable Portea to strengthen patient engagement and provide better care for chronic disease patients in India. The acquisition was made for an undisclosed amount of cash and stock.
MedybizPharma, which started in 2009, has served more than two lakh patients providing prescription refill and therapy compliance support for super-speciality medicines.
Portea Medical handles more than 60,000 home visits a month across 24 cities in India and in September 2015, it received Series B funding of $37.5 million from Accel, IFC, Qualcomm Ventures and Ventureast. The company focuses on general primary health care, post-hospitalization care, chronic disease management and allied services such as diagnostics. It also provides collection of lab samples and medical equipment on hire, bringing the entire gamut of healthcare services to a patient’s doorstep.
Headquartered in Bengaluru, Medybiz has 200 employees and a footprint across 26 cities in 19 states in India. The company was acquired from the Reliance ADA Group by its Management Team in 2011. Kewal Handa, a 30-year pharmaceutical industry veteran and formerly MD of Pfizer India is the Chairman of Medybiz.
Healthcare Platform Medikoe Raises $100k in Angel Funding to Fuel Expansion
Bangalore-based online platform, Medikoe has raised $100k in angel funding from Anil Menon, the CEO of CMS Computers Limited to fuel expansion in Mumbai and NCR region by December and in more than 20 cities by the first quarter of 2016.
Launched in October 2015 by Sreevalsan Menon & Raman shukla, Medikoe enables access to healthcare & wellness services through a single platform. The services and offers can be accessed pan India including Tier-2 and Tier-3 cities. Some of the key partners includes Manipal Hospitals, Jiyo Natural(healthy food), NM Medical Diagnostic, Nightingales Home care, Positive Homeopathy etc to name a few and clocks.
The startup takes pride in catering to over 1800 users with more than 20000 search’s on the platform with in one month of its launch. So far, it has registered more than 1500 healthcare & wellness service partners with more than 100 deals on its platform.Category Business Investments