Hotline: 1800 102 2007
X
Search Business Opportunities
Investment 2015-11-23

Portea Medical acquires Medybiz Pharma to accelerate penetration in chronic disease market

Headquartered in Bengaluru, Medybiz has 200 employees and a footprint across 26 cities in 19 states in India. The company was acquired from the Reliance ADA Group by its Management Team in 2011.

Portea Medical acquires Medybiz Pharma to accelerate penetration in chronic disease market

Leading home healthcare company, Portea Medical has acquired specialty pharmaceutical distributor MedybizPharma to strengthen patient engagement and better care for chronic disease patients in India.

Portea Medical, which handles 60,000+ home visits a month across 24 cities in India and bagged Series B funding of $37.5 million from Accel, IFC, Qualcomm Ventures and Ventureast, has acquired MedybizPharma for an undisclosed consideration of cash and stock.

Announcing the deal, Meena Ganesh, MD & CEO, Portea Medical explained, “Portea is already present across several chronic disease areas and with the acquisition of Medybiz, we are adding a vital and powerful, specialized Pharma arm to deliver better pharmacy care to patients with chronic conditions who have ongoing needs for medication.” 

The Bengaluru-based is India’s leading Pharmacy Benefits Manager (PBM). Started in 2009, former MD of Pfizer India, Kewal Handa is the Chairman of Medybiz. Over the last six years, Medybiz has served over two lakh patients, providing prescription refill and therapy compliance support for super-speciality medicines.

“While diseases may respond to medicine, people respond to care, and chronic diseases in particular require specialized care over many years. We have always been committed to the best outcomes for patients and are therefore delighted with our alignment with Portea which will exponentially increase the impact we have on patients,” noted Handa.

Medybiz has 200 employees and a footprint across 26 cities in 19 states in India services include Speciality Pharma Support (Patient Assistance Programs ‘PAP’) for pharmaceutical companies and Pharmacy Benefits Management (PBM) services as part of employee benefits programs.

Its offerings run the entire gamut covering Diabetes, Cardiology, Oncology, Osteoarthritis, Osteoporosis, Rheumatoid Arthritis, Tuberculosis and Neurology, amongst others.

Comment
Related opportunities
  • Building decoration products
    About Us: Vinayak Summer Seal is an pure acrylic based High SRI..
    Locations looking for expansion Uttar Pardesh
    Establishment year 2012
    Franchising Launch Date 2015
    Investment size
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater GHAZIABAD Uttar Pardesh
  • Casual dine Restaurants
    About Us: Company is into F&B Business with concepts such as..
    Locations looking for expansion Karnataka
    Establishment year 2011
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Competitive Exam Coaching Institute
    About Us: Chennai RACE Coaching is an education industry in the..
    Locations looking for expansion Tamil nadu
    Establishment year 2012
    Franchising Launch Date 2015
    Investment size Rs. 30lac - 50lac
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chennai Tamil nadu
  • Want to start your own preschool with different approach? HPS..
    Locations looking for expansion Andhra Pardesh
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 10lac - 20lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Secunderabad Andhra Pardesh
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories

Free Advice - Ask Our Experts