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MedPlus

MedPlus Health Services is an Indian pharmacy retail chain, headquartered in Hyderabad.[3] MedPlus is the second largest pharmacy chain in India, operating over 4,230+ pharmacy stores across 600 cities, as of 2024.[4]

MedPlus sells prescription and OTC medicines, FMCG products, vitamins and other nutrition supplements, and opticals. It also offers clinical laboratory services and physician consultation services in Hyderabad, Vijayawada and Bangalore. The company owns and runs ePharmacy[5] and an online clinical lab service.[6][7]

History

MedPlus was founded in 2006 by Madhukar Gangadi. The company's first store was launched in Hyderabad.[8] Initially operating under the Aushadhi brand name, it was rebranded as MedPlus after the opening of the first 48 stores.

The company opened pharmacies in the western states of Gujarat and Rajasthan in 2007 but had to shut down and exit operations due to recurring losses.[9] It relaunched stores in Ahmedabad, Gujarat in 2014.

In 2008, it opened diagnostics centers in five cities under its subsidiary MedPlus Pathlabs.[10] In 2015, it started its e-pharmacy division.[11]

In December 2021, MedPlus Health Services launched its initial public offering (IPO) and got listed on the Indian stock exchanges.[12]

Criticism

The AIOCD (All India organization of Chemists & Druggists) called for a nationwide strike on 14 October 2015 against online sale of drugs and criticized ePharmacies[13] like MedPlusMart.com as illegal and a threat to the interests of around 8.5 lakhs chemists [14] around India. MedPlus defended its online sales policy[15] as being in compliance with the current drug act and as a valuable service to its customers.

See also

External links

References

  1. B. Dasarath Reddy. MedPlus to raise up to $70 mn, launches online lab services Business Standard India, 10 December 2015, retrieved 2016-02-03^
  2. MedPlus Health Services Ltd consolidated Q4FY23 profit climbs to Rs. 26.58 crores EquityBulls, 25 May 2023, retrieved 31 August 2023^
  3. Hyderabad's online pharma chains help take meds to the marooned The Times of India, 4 December 2015, retrieved 17 August 2018^
  4. Medplus sees short-term threat from e-pharmacies; to continue adding stores CNBC TV18, 12 September 2022, retrieved 7 February 2023^
  5. Soon you will be able to buy medicines online! Business Insider, retrieved 2016-01-22^
  6. MedPlus launches online clinical lab service The Hindu, 2015-12-10, retrieved 2016-01-22^
  7. MedPluslab.com to make lab testing convenient and affordable www.pharmabiz.com, retrieved 2016-01-22^
  8. Aneesh Phadnis. Pharmacy retail chain MedPlus plans entry into Mumbai in next 3 months Business Standard, September 18, 2019, retrieved February 26, 2020^
  9. Parag Dave. New-age pharma stores face slowdown heat The Economic Times, 6 April 2009, retrieved 31 August 2023^
  10. MedPlus unveils diagnostics plans The Economic Times, 29 May 2008, retrieved 31 August 2023^
  11. MedPlus to raise $75 m in six months BusinessLine, 27 March 2015, retrieved 31 August 2023^
  12. MedPlus Health Services lists at Rs 1,040, a 30% premium over issue price Moneycontrol, retrieved 7 February 2023^
  13. End of e-pharmacy days? - Times of India The Times of India, 2 January 2016, retrieved 2016-01-22^
  14. Online pharma portal runs into resistance from store chemists - Times of India The Times of India, 14 May 2015, retrieved 2016-01-22^
  15. Some form of online pharma presence inevitable: MedPlus Deccan Herald, 10 October 2015, retrieved 2016-01-22^