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MedPlus, the pharmacy chain with 1,300 outlets across the country, is raising ₹300-420 crore in the next few months. The firm, which registered a turnover of ₹1,350 crore in the last financial year, is expecting revenues of ₹1,800 crore in 2015-16. “We are working on this. We are hoping to complete the deal soon,” said MedPlus founder CEO Madhukar Gangadi.
Madhukar holds 20 per cent in the firm, with private equity firms holding about 70 per cent.
The remaining stake is held by others in the promoting group. The fund raising plan provides an exit route for some investors. “I, however, would stay,” he said.
Investment Banker Credit Suisse has been roped in to pick the strategic investors. Earlier, he announced the launch of an online window to offer clinical laboratory tests.
The window allows users to choose time slots to let MedPlus staff to come and collect samples. Reports would be delivered online and offline too.
The firm already launched an e-pharmacy that contributed about 10 per cent to the company's revenues.
It is planning to add 100 more pharmacy outlets and 10 diagnostic laboratories.
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