PharmEasy: Aggregator of Affordable Healthcare
There’s a company that puts health above wealth, a rare find, indeed.
Since the dawn of time, the ancient people have known what the true value of one’s fortune is - it is health that is the real wealth.
Centuries ago, people in India worshipped the god Dhanvantri in order to obtain good health. People were left to pray to gods and use nature to heal themselves because medications were scarce at the time.
Since then, the importance of health has remained constant, but technological advancements and access to medication have altered.
Dharmil Sheth and Dhaval Shah convey a successful story to the Indian people - they founded PharmEasy - something that India should be proud of.
They recognized the importance of good health and set out to provide affordable healthcare to everyone - and that is precisely what they did.
Stick around to learn more about the story of PharmEasy, which has impacted and continues to change many lives in India.
The Beginning of a Better Era for Indians
Everything starts in 2015 when Dharmil Sheth and Dhaval Shah, two young Mumbaikars, decide to travel far and wide to realize their dream - to bring together pharmacies, diagnostic institutes, and patients under one platform.
Dharmi Sheth graduated from IIM Ghaziabad with an MBA in Marketing after earning a Btech degree in Electronics Engineering.
After graduation, Dharmi worked in companies that were crucial to his growth and understanding of business - he was working in companies such as Techno Gravity Solutions and Make My Trip in the Business Development sector.
Dhaval Shan, on the other hand, possesses an education that when combined with Dharmi Sheth’s, yields amazing results - he holds a Bachelor’s degree in Medicine and a Master’s degree in Business.
Due to his exceptional talent and motivation, Dhaval has been the General Secretary at both of his colleges. After that, he went on to work for McKinsey & Company as a consultant where he soaked in even more expertise and understanding.
After a lot of experience and education, Dhaval and Dharmi came up with the notion of starting an online pharmacy - something that will benefit the whole of India. They both saw the promise of technology in the healthcare industry, and it was the vision that sparked the creation of PharmEasy.
Even though Dhaval and Dharmi discovered the right-fitting key to open the doors to their company, they still needed to open a lot more locks in order to be successful.
PharmEasy’s Stumbling Blocks and Stepping Stones
PharmEasy was founded with the sole objective of making healthcare accessible and inexpensive to everybody. It sought to connect patients with local pharmacies and diagnostic centers, as well as transport medications to their homes. However, in order to make this vision a reality, the company had to overcome a number of challenges.
Challenges are unavoidable, and the e-pharmacy in question was no exception - PharmEasy found it difficult to provide products without a description.
Furthermore, knowing the names of the medication was not enough - supplying the items required a legitimate prescription and many people were afraid of the consequences if they uploaded their prescriptions. It was a huge issue at the time since the Indian people did not have much faith in the company.
Moreover, location monitoring proved challenging for PharmEasy’s delivery agents when the company first launched - it lacked access to high-quality navigation and maps.
Aside from that, there was a slew of famous rival names in the game, including Hello Heart, Ranger Health, and MAYD. To succeed among them, PharmEasy needed to demonstrate its worth.
It took time for Indian people to understand what the company was delivering and to gain faith in it. When they realized that PharmEasy could only give the best and most genuine health items at the best prices, everything started to change for the better.
Today, the company distributes medicines in more than 1000 cities across India - which is evidence of the company’s accomplishment.
PharmEasy: Health’s Crown
Since its debut in 2015, the company has faced numerous obstacles, but it has only capitalized on them - it has become India’s leading and most trusted online healthcare provider.
There is a lot that the company has to offer! It meets consumers’ healthcare needs by providing on-demand, home delivery access to a large selection of prescriptions, over-the-counter pharmaceuticals, as well as complete diagnostic test services and teleconsultations.
PharmEasy not only provides a lot, but it also ensures that customers receive nothing but the best! All customers have access to the greatest and most authentic health items at the lowest possible prices and in the shortest amount of time.
Thanks to the company’s excellent services, it now distributes medicines in over 1.000 cities across India and spanning over 22.000 pin codes. PharmEasy also provides diagnostic testing services across Mumbai, including Chennai, Navi Mumbai, Thane, and a number of other locations.
As of 2021, the company had 25 million registered users, 8.8 million orders, and 2.4 million customers transacting - the reason why PharmEasy is regarded as a health’s crown.
Garnering Financials and Fundings
PharmEasy is a steady corporation with a high financial value, as seen by its financial figures.
In 2021, the company was valued at $1.8 billion thanks to a $500 million investment deal led by Arokiaswamy Velumani.
In its Pre-IPO round of funding, which was split into two stages, the company raised another whopping sum of $354 million. It received a total of $204 million in the first round of funding, while the company obtained roughly $150 million in the second round.
PharmEasy is consistently growing and participating in IPO, all of which has resulted in a rise in the company’s valuation. In February 2022, the company was valued at a staggering amount of $5.4 billion.
The company has also expressed interest in acquiring businesses. PharmEasy paid $144 million for acquiring Aknamed, as well as two other companies in 2021.
According to all statistics, PharmEasy is only growing in size and is looking at a bright future ahead of it.
Future Prospects with Generosity
PharmEasy is a company with a generous outlook on the future. The company has a vision and goals in place to give greater services and value to its customers.
Headquartered in Mumbai, India, and employing more than 1800 people, PharmEasy is not only a fan favorite when it comes to healthcare, but also a sound employer to many eager professionals.
Every team member encourages and motivates others to contribute to the company’s success by working together as a family - according to the company, it is the only way to achieve perfection.
The company intends to expand its coverage across India and provide even better services to Indian citizens.
Never say die. Never is one of the company’s main values, and encourages people to take a positive outlook on life and obtain the finest possible assistance. PharmEasy exists to provide people with only the best and most affordable services available.
With the company’s passion and motivation, there is little t no doubt that India’s people will see even better days ahead.
A Brighter Future Is on the Horizon
Thanks to Dharmil Sheth and Dhaval Shah, Indians are provided with the most crucial blessing of life - good health.
Good health is above wealth - the motto that pushes PharmEasy on the path to success is a shared feeling among many Indians, making Dharmil and Dhaval’s company one for the books.
Since PharmEasy’s inception, the company’s aim has been the same - to provide affordable healthcare to everyone! It offers users on-demand, home delivery access to a variety of prescriptions, over-the-counter pharmaceuticals, comprehensive diagnostics tests, teleconsultations, and other services.
According to the company’s financials, it is a very valuable company with a bright future ahead of them.
When it comes to the company’s future goals, it simply goes to demonstrate that PharmEasy is dedicated to providing Indians with what they deserve - the finest and most affordable health care.