Talks have been been on and in circulation about that the pharmaceutical distribution firm, Ascent Health and wellness and online drug retailer firm, PharmEasy are preparing to merge. This consolidation has been deemed the biggest in the industry, as reported by the Indian daily news.
The decision-making committees of both the companies have given a nod for the consolidation. The decision-making committees of Ascent Health and PharmEasy include renowned venture capitalist and private equity firms namely, Eight Roads Ventures, Everstone Capital, KedarMankekar and Orios Venture Partners, said three anonymous sources to the Indian daily news.
The stakeholders of both companies have given the green signal for the merger about three weeks to a month back and the boards are also likely to give approvals soon, said an anonymous source.
The consolidation of the two pharmaceutical companies, Ascent Health and PharmEasy, is all set to become the largest in the online pharmaceutical industry. With this consolidation, both the pharmaceutical companies will be controlling distribution, as well as supply chain, which are crucial for business growth. In the online pharma space, it is crucial for drug retailers to manage the distribution and supply chain.
Naspers, the South-African media, has shown interest in investing in new business entity after the consolidation. Further, Swiggy is interested in endowing money in the newly merged entity, as reported by the Indian daily news.