Online healthcare start-up 1mg Technologies Pvt. Ltd on 4 July 2016 announced the acquisition of diagnostic labs aggregator Medd.
The step was taken to boost diagnostic footprint of 1mg Technologies. However, the value of the transaction was not disclosed by the company.
The deal comes after 1mg raised 100 crore rupees in a Series B round from investors including Maverick Capital Ventures.
About 1mg Technologies
• 1mg Technologies operates an online marketplace for medicines.
• It also facilitates medical appointments and diagnostic test bookings.
• It claims to have over 6 million app downloads and 80 million annual visits on its platform.
• It has a database of about 100000 medicines with detailed information on their side-effects and composition.
• It also allows consumers to do a price comparison among multiple brands of medicines with the same composition.
• Medd was co-founded by Indian Institute of Technology Bombay graduates Arpit Kothari and Anurag Mundhada and Carnegie Mellon graduate Era Dwivedi in 2015.
• It operates across Mumbai, Indore, Bhopal, Nagpur, Bengaluru and Jaipur.
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