Online pharmacy startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO
- PharmEasy currently has a workforce of 6,100+ employees, but it is planning to hire more people for its new development centers.
- PharmEasy offers a range of services such as teleconsultation, medicine deliveries, and sample collections for diagnostic tests.
- The company acquired Thyrocare in June 2021, which opened the door for its public listing this year.
The Mumbai-based startup currently has a workforce of over 6,100 employees.
Seven-year old PharmEasy claims that the initiative to launch a new development centre coincides with the increased digital adoption due to the Covid-19 pandemic. The company claims that this increased customer demand has also increased the demand for tech skills across the spectrum.
“The new facilities will serve as a significant hub for driving development and innovation,” Abhinav Yajurvedi, chief technology officer (CTO) of PharmEasy.
Founded by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia, and Siddharth Shah, PharmEasy caters to the chronic care segment and offers a range of services such as teleconsultation, medicine deliveries, and sample collections for diagnostic tests. It operates a business-to-business (B2B) pharma marketplace with 6,000 consultation clinics with 90,000 partner retailers pan India.
PharmEasy’s parent company API Holdings became the first Indian startup to acquire a publicly listed company, after it acquired A Velumani-led diagnostics chain Thyrocare Technologies for ₹4,546 crore ($612 million) in June. This acquisition has opened doors for the seven-year-old startup to list on the stock exchange directly.
ALSO WATCH: PharmEasy's Founder Siddharth Shah Gets Candid On His Success Formula
The company is looking at a dual listing or a reverse listing option, co-founder Siddharth Shah told Business Insider in a recent interview. A dual listing is a corporate structure in which two companies function as a single operating business through a legal equalisation agreement.
A reverse listing, on the other hand, is acquisition of a private company by an existing public company, so that the private company can bypass the lengthy and complex process of going public.
PharmEasy has also appointed five independent directors to its board, bringing the total tally to 12.
|Vineeta Rai||Former IAS officer|
|Subramanian Somasundaram||Titan’s former CFO|
|Dr Jaydeep Tank||Gynecologist|
|Ramakant Sharma||Founder of Livespace|
|Deepak Vaidya||Has decades of experience in the field of Pharmaceuticals, Micro-Finance, Healthcare and Private Equity|
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