Ananth Narayanan is in talks to join e-pharmacy platform Medlife. As per a report, he has been in discussions with Medlife to take up the top job and build a team as they look to shore up external capital. Over six months after his exit from Walmart-owned Myntra, Ananth Narayanan is back into the CEO's shoes with e-pharmacy platform Medlife, said the company on Monday. Narayanan has joined as the company’s co-founder and CEO and will be involved in the firm's day-to-day operations, apart from handling fundraising and mergers and acquisitions.
Medlife, which sells medicines online along with facilitating diagnostic tests and doctor consultation, is currently in talks with Soft-Bank Vision Fund and pharma major Cipla for a funding round which is estimated at $100-150 million.
“This (Medlife) felt to me like Myntra at very early stages - with a $100 billion market (opportunity) and two percent penetration," said Narayanan, chief executive of Medlife. “Moreover technology innovation in health is at its infancy and can be used for seamless e-consultation to medicine delivery to diagnostics."
For Medlife, bringing someone like Narayanan will help it go out and raise a financing round which has been in the works for months now. Earlier this year, the company which was founded by Tushar Kumar and Prashant Singh in 2014, acquired Bengaluru-based medicine-delivery startup Myra in an allstock deal, indicating early signs of consolidation in India's crowded epharmacy sector.