Sources said a small cash outlay was also involved in the transaction.
Bengaluru-based Akanamed provides procurement solutions to over 1,200 hospitals, including Manipal Hospitals, Columbia Asia and Narayana Health.
NS takeover, which is
Similar to my purchase of Thyrocare in June, is part of the plans of the Mumbai-based company to establish itself as a comprehensive online healthcare firm that has diversified from being just an online drug delivery platform.
Sources said all the founders of Aknam will get shares and additional stock options in API Holdings, the parent arm of PharmEasy. NS
The deal comes ahead of a planned initial public offering by API Holdings., which will file its draft IPO papers by next month.
lightrock Sources said that (part of the LGT Group), a common investor in both the firms, will see an increase in its stake in API Holdings as part of the deal.
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A person privy to the matter said, “It is now a PharmEasy company and the founders are receiving stock in API Holdings in addition to ESOPs (Employee Stock Ownership Scheme) as a performance-based incentive prior to the planned IPO.” as it is.”
Sources said that Aknam’s monthly revenue run-rate grew 10 times by the end of the last financial year.
ET reported on 14 September that
PharmEasy was finalizing a $200 million primary fund infusion from US-based and Southeast Asian investors, the latter of which would be valued at around $6 billion. He was
$4.2 billion in June.
Aknam was founded by Saurabh Pandey and Mahadevan Narayanmoney in 2018, with Mayank Kapoor, Shaunak Joshi and Varun Vohra joining the company as co-founders a little later.
Pandey did not respond to ET’s email, while API Holdings cofounder and CEO Siddharth Shah declined to comment.
The founders of Aknam are likely to continue running the company with the founding group at PharmEasy in the near future.
in May,
Aknam acquired Vardhman Health for about $35 million and was reportedly also in talks with investors to raise fresh capital.