Daily Current Affairs on Online Medical Platform ‘PharmEasy’ acquires rival ‘Medlife’ to become India’s Largest e-pharma Company for UPSC EPFO Exam Preparation

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Online Medical Platform ‘PharmEasy’ acquires rival ‘Medlife’ to become India’s Largest e-pharma Company

PharmEasy, an online medical platform, has acquired its rival Medlife, to create India’s largest online pharmacy.
Medlife has now ceased to operate with effect from May 25, 2021, following the merger with PharmEasy.
With this acquisition, Medlife users will automatically become PharmEasy users.
API Holdings, the parent of PharmEasy, has acquired 100 percent equity shares of Medlife in return for 19.59 percent equity share capital, estimated at $250 million.
With this total combined entity set, PharmEasy will serve around 2 million customers a month.