New Delhi: Online health platform Medlife on Monday said former Myntra-Jabong CEO Ananth Narayanan has joined the company as its chief executive officer and co-founder. Narayanan, who has also invested an undisclosed amount in Medlife, will be responsible for driving the next phase of growth of the company that is raising its first external round of funding of USD 150 million.
“Healthcare is a USD 100 billion-plus market opportunity but there is very little technology disruption. Medlife has an interesting interplay in e-pharmacy, e-diagnostics, and e-consultancy which was very interesting for me. I decided to join them because I feel technology can play a disruptive role in making healthcare simple, personal, and accessible to all Indians,” Narayanan told.
Narayanan will also join the company’s Board of Directors of Medlife, which was founded in November 2014 by Prashant Singh and Tushar Kumar.
Medlife has scaled its business to clock Rs 1,000-crore revenue run rate. It currently operates across 4,000 cities and makes over deliveries daily. It operates its medicine delivery service through 40 fulfillment centers and three large regional hubs in 22 cities. Besides, it has one national and five regional laboratories, and over 350 phlebotomists to take diagnostics to patients’ homes.
Narayanan said the company is in the midst of fundraising of USD 150 million with participation from strategic and financial investors and is expected to be completed in the next 3-5 months.