• API Holding was incorporated on March 31, 2019, since inception company has grown significantly because of its multiple strategic mergers and acquisitions, they acquired Medplus there biggest Rival in 2021. 
  • API is the one stop shop for all the healthcare services as customer can buy medicines, consumer healthcare products, diagnostic test services and teleconsultants. so on one app of PharmEasy customer can get all healthcare services.
  • 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 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.
  • Company acquired Aknamed, which strengthened their 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
  • While the healthcare opportunity is large in terms of the overall size, it is much lower than the global standards when considered at a per capita level or as a % of GDP. INR 9.6 trillion healthcare spend in 2019 translates into PPP-adjusted per capita spend of ₹ 22,950 (US$306), which is just 20% of the global average of ~US$1,459 (as per World Bank for 2018), and just ~2% and ~30% of the healthcare spend for the US and China respectively.

Overview of PharmEasy: 

- They are India’s largest digital healthcare platform (based on GMV of products and services sold for the year ended March 31,2021), according to RedSeer Report. We operate an integrated, end-to-end business that aims to provide solutions for healthcare needs of consumers across the following critical stages:

     A. providing digital tools and information on illness and wellness,

     B. offering teleconsultation,

     C. offering diagnostics and radiology tests, and

     D. delivering treatment protocols including products and devices.

They also have custom-built proprietary technology, unified data platforms, supply chain capabilities, and deep understanding of the dynamic interplay between the various sub-segments of India’s healthcare market .

These capabilities enable them to provide each stakeholder in the healthcare value-chain, viz.:

    (a) channel (wholesalers, retailers and chemists / institutions),

    (b) consultants (and hospitals), diagnostic and radiology labs,

    (c) consumers, and

    (d) companies (pharmaceutical, nutraceutical, medical devices)

With the technology tools and capabilities to solve their challenges, while also enabling them to benefit from an interconnected network. At the same time, they also enable them to build a scaled presence, allowing their platform to reach a wide base of

stakeholders across the length and breadth of the country. They have presence across the country, with last-mile capabilities to deliver in over 18,587 pin codes (for June 2021) via PharmEasy marketplace, allowing them the ability to provide

access in an affordable manner to the common man.

Products and Services:

- Sale of Products:

PharmEasy sell pharma, OTC and private label medical products, surgical and consumables procured from pharmaceutical companies to (i) distribution to retailer, (ii) distribution to chemist and institutions and (iii) Aknamed which we acquired in September 2021. As per RedSeer Report, we are the second largest buyer of pharmaceuticals among pharma wholesalers and retailers, in India, as of financial year 2021.

(i) Distribution to retailer: Company sell pharma, OTC and private label medical products, surgical and consumables procured from pharmaceutical companies and wholesalers to retailers. These retailers are typically registered sellers on PharmEasy marketplace. They have also launched range of private label products across categories through their brands ‘Liveasy’ and ‘Everherb” to target the large and fast growing consumer healthcare segment including OTC, wellness, multivitamins, orthopaedic and diabetic care products amongst others. These products enhance our overall selection of categories for customers.

(ii) Distribution to chemist and institutions: Pharmeasy operate a technology-powered distribution business under which we procure pharma, OTC and private label medical products, surgical and consumables from pharmaceutical companies and wholesalers and sell to chemists and institutions, which largely include pharmacies, hospitals, doctors, clinics, and medical centres in India. They sell these products both directly as well as using technology provided by Retailio. This business was operated by erstwhile Ascent and we now refer as Retailio 1P.

 Sale of Services:

GMV from sale of services was ₹32,451.61 million and ₹14,814.40 million in Fiscal 2021and three months ended June 30, 2021. This includes GMV primarily from (i) diagnostics services, and (ii) 3P GMV.

(i) Diagnostic services: Pharmeasy has strengthened its business presence through the acquisition of Thyrocare in September 2021. Thyrocare is the largest diagnostics test providers by volumes, with one of the lowest costs of testing, as of financial year 2021, as per RedSeer Report. Thyrocare offers a comprehensive portfolio of 283 diagnostics tests through 17 owned diagnostics labs, approximately 4500 diagnostics collection centres as of 31 March 2021 and an in-house team of 16 pathologists and 889 phlebotomists as of June 30, 2021.

(ii)Direct-to-pharmacy services: Retailio, one of India’s largest online pharma platforms, in terms of the retailer base as of financial year 2021 as per RedSeer Report, provides technology which enables wholesalers and pharmacies to connect and sell a wide range of pharma and other medical products. During the month of June 2021, 87,194 pharmacies and 3,261 wholesalers used Retailio to fulfil their procurement needs. Retailio was used in 191 cities pan India across 3,482 pin codes during the month of June 2021.

(iii) Services for doctors and teleconsultation for consumers: Pharmeasy provide EMR and practice management software and teleconsultation tools to doctors through their proprietary, AI-driven predictive software called Docon. They also provide teleconsultation services to customers on Docon mobile application and on PharmEasy marketplace. 10.7 million digital prescriptions were generated during Fiscal 2021 on their platform. Additionally, they have facilitated 3.4 million teleconsultations in Fiscal 2021. Further, in the three months ended June 30, 2021, 4.1 million digital prescriptions were generated on their platform and facilitated 1.6 million teleconsultations. For the month of June 30, 2021, Docon and Docstat is being used by 4,617 prescribing doctors to digitally engage with their patients through electronic medical records (EMR), teleconsultations, and generation of digital prescriptions.

ERP services for pharmacies: RedBook is an ERP and customer relationship management software for pharmacies. 2,537 pharmacies/retailers are active on RedBook for the month of June, 2021. It allows pharmacies on their network to avail technology tools and data intelligence to deliver better customer service and drive efficiencies in their operations. In October 2021, they added more technology capability we acquired a 49.17% stake in Marg, an ERP software vendor to pharmacies and wholesalers. This business provides ERP solutions to more than 200,000 pharmacies and wholesalers as of June 30, 2021.

- Fulfilment and technology services for PharmEasy: Company provide last mile fulfilment services to Axelia for pharmaceutical and OTC products sold on PharmEasy marketplace. In Fiscal 2021, 64.9% of fulfilled orders on the PharmEasy marketplace were delivered by the company. They also license the “PharmEasy” brand name and provide franchisor services, such as fulfilment, marketing and digital enablement for franchisee owned and operated offline pharmacies.