To Ease Healthcare Services, AKOSMD, Acquires Major Stake in MChemist
A telemedicine company, AkosMD, acquires a 72% stake in a medicine delivery startup MChemist to cut down primary healthcare services costs.
The telemedicine company AkosMD was founded by Sawaraj Singh and Kishlay Anand in 2016. The aim of the company is to offer telemedicine services as well as online consultation, online pharmacy for workplaces, and other diagnostic bookings. The company has acquired a hefty stake of 72% in MChemist which is a medicine delivery startup.
MChemist was founded in 2014 by Rajiv Gulati. MChemist uses its platform to deliver medicines, herbal products, medical devices, and wellness aids from one place to another.
The partnership of AkosMD and MChmist allows AkosMD to provide its customers with a one-stop platform. This will allow AkosMD to not only provide its users with a thorough diagnosis but also provide them with the medicines.
This acquisition will be very helpful for both companies as it will enable them to reduce costs. The primary care costs will be reduced majorly which normally covers 70% of the total cost.
“The partnership aims to offer a game-changing healthcare service to individuals by empowering them with expert remote healthcare services at competitive prices, thereby giving them a sense of self-sufficiency and accountability for their well-being,” said Kishlay Anand, founder, and CEO of AkosMD.
The market of e-pharmacies and other digital initiatives in the healthcare sector is increasing at a very fast speed. The market of the healthcare sector is expected to reach $4.5 billion by the end of 2025. It presents a great opportunity for entrepreneurs to fill the void and take decisions timely. The recent acquisition of TATA of a major stake in 1mg is one example of how big companies are focussing on healthcare services.
Moreover, this trend is not only limited to India as it is also getting popular in other regions as well. As per the reports, the healthcare applications downloads increased 25% during the latest pandemic. It has led to a skyrocketing increase in healthcare applications development.