Medlife to launch 750 pharmacies across India by 2020-end

Medlife, the health-tech platform, is planning to launch 750 pharmacies across India by the end of 2020, expanding its presence in the retail pharmacy segment. The company is eyeing at acquisitions to achieve the target. 

Tushar Kumar, Founder and CEO, Medlife, said, "We have started the omnichannel where we are now looking at active acquisitions of offline retail chains. We want to open close to 750 retail pharmacies in two years, by end of 2020. These stores will act both as offline pharmacies and also as well as hyper-local centres for last mile delivery of medicines."

"We have earmarked around Rs 250 crore for the acquisitions. This would be raised through internal accruals and we also have a commitment from the Alkem Family Trust," he added.

Currently, Medlife is present in around 21 cities with 50 licensed pharmacies.

Kumar stated, "We want to expand our presence to 50 cities from present 21 where we are operating and will be adding 60 more fulfilment centres in the coming fiscal year." 

Medlife will open pharmacies at the new locations, mainly tier II cities like Indore, Chandigarh, Mangalore, Durgapur, Howrah, Surat, Nagpur and Kanpur among others.