For PharmEasy, sealing the deal with Thyrocare was no cakewalk.
Last month, API Holdings, the parent company of the healthtech unicorn, acquired a 66.1 percent stake in Thyrocare from Dr A Velumani and affiliates at a price of Rs 1,300 per share, aggregating to Rs 4,546 crore.
The acquisition made history as it marked the first time a publicly-listed company was acquired by a unicorn, and the team worked day and night to achieve this feat.
In an interaction with YourStory, Siddharth Shah, Co-founder and CEO, PharmEasy, tells how a 15-minute chat with Dr A Velumani, Founder of Thyrocare, turned into a three-hour discussion ending in cementing the deal — and they had to close it in a matter of just a month.
“And Dr Velumani was telling me what we had done in 8 years and 11 months, we have to do that same amount in a month. And I don’t know what got into me. I said the deal will be done by June 30,” says Siddharth.
The Thyrocare deal is significant as it comes amid the COVID-19 pandemic which has made people pay attention to their health.
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“I think healthcare will become the front and centre of everything we do. And as that grows, the focus on outpatient will be stronger.”