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Medlife acquires Mumbai based digital healthcare platform


Medlife acquires Mumbai based digital healthcare platform

Medlife founder and Chief Executive Officer Tushar Kumar said: “The acquisition has come at an opportune time for both the companies. While MedLabz was looking to scale up business, we wanted to strengthen our diagnostic capabilities through a viable acquisition.”

Bengaluru: Health-tech firm Medlife recently said it has acquired Mumbai-based digital healthcare platform and diagnostics company MedLabz for an undisclosed amount.

Founded in 2015 by six alumni from IIT-Bombay and IIT-Delhi, Medlabz, through its predictive AI-based engine, provides health insights to patients and corporates using gathered clinical data from diagnostics, doctor and diet consultations.

This acquisition will help the company consolidate its diagnostics business, MedLife said in a statement.

Medlife founder and Chief Executive Officer Tushar Kumar said: “The acquisition has come at an opportune time for both the companies. While MedLabz was looking to scale up business, we wanted to strengthen our diagnostic capabilities through a viable acquisition.”

The company, however, did not provide any financial details of the acquisition.

Medlife, which is a leading player in the online pharmacy segment, recently announced plans to expand presence in the retail pharmacy segment.

Founded by Tushar Kumar and Prashant Singh in 2014, Medlife has emerged as one of the frontrunners in enabling better access to healthcare by offering an array of app-based online consultation, pharmaceutical, and related services across India.

Also Read: Medlife collaborates with AIOCD AWACS to launch campaign track



Source: With inputs
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