PharmEasy IPO

API Holdings Limited is India’s largest digital healthcare platform (based on gross merchandise value (GMV) of products and services sold for the year ended March 31, 2021), according to RedSeer Report. The company operates an integrated, end-to-end business that aims to provide solutions for healthcare needs of consumers.

API Holdings Limited is one of the largest digital first platforms in the country that aggregates healthcare data and interconnects the traditionally disparate stakeholders of the healthcare value chain, as per the RedSeer Report. As per the RedSeer Report, they are the only digital healthcare platform in India with leading presence across both the supply and demand sides of the healthcare value chain. The company’s various products and services span across the healthcare value chain and are currently at different stages of growth, market penetration, customer adoption, product development, and monetisation.

API Holdings owns the “PharmEasy” brand, and their proprietary technology platform powers the PharmEasy marketplace. It has licensed the brand and the technology to Axelia, which is owned by Aarman, in which API Holdings Limited have 19.99% equity interest. Axelia operates the PharmEasy marketplace.

Axelia has also entered into arrangements with the company to provide the diagnostic orders generated on the PharmEasy marketplace to Thyrocare in lieu of commission as per the agreed rates and facilitates the provision of diagnostics and pathology services through its partner laboratories. Furthermore, API Holdings also has an arrangement with Axelia by which its laboratories and partner laboratories are listed on the PharmEasy marketplace along with arrangements for providing logistics services including last mile fulfilment services to Axelia.

PharmEasy is India’s leading consumer healthcare super app for consumers (providing online pharmacy, OTC, teleconsultation and diagnostics services) in terms of GMV of products and services sold on the platform in the financial year 2021 according to the RedSeer Report. PharmEasy marketplace had 25 million registered users across India as of 30 June 2021.

For the three months ended as of June 30, 2021, 206 pharmacies were active on the PharmEasy marketplace. The company sell pharmaceutical and OTC products to some of these pharmacies. Diagnostics services are also provided on the PharmEasy marketplace through multiple diagnostics service providers. It also provide fulfilment services to Axelia for the pharmaceutical and OTC products sold on the PharmEasy marketplace.