IPO-Bound PharmEasy to Hire 200 Engineers, Onboards Five Independent Directors to its Board

PharmEasy said that it is planning to hire over 200 engineers for its soon-to-be-launched development centers in Hyderabad, Pune, and NCR region.
IPO-Bound PharmEasy to Hire 200 Engineers, Onboards Five Independent Directors to its Board

Leading e-pharmacy company PharmEasy, owned by API Holdings Ltd, said that it is planning to hire over 200 engineers for its soon-to-be-launched development centres in Hyderabad, Pune, and NCR region.

"Our team is focused on building the healthcare ecosystem for a modern and digital-first India, to fulfil our mission; simplifying healthcare and impacting lives. We are looking for exceptionally talented and motivated individuals who are committed to this mission," said Hardik Dedhia, Co-Founder, PharmEasy.

The company is building a larger ecosystem to solve outpatient healthcare challenges, bridging the gap in the healthcare industry, it said in a statement.

 The API Holdings Ltd has already appointed five independent directors to its board. With the new appointments, API Holdings’ board strength stands increased to 12 directors.

The new appointments to the board include Vineeta Rai, IAS (Retd) officer who was the ex-revenue secretary of India; Subramanian Somasundaram, who recently retired as the CFO of Titan Company Ltd; Ramakant Sharma, Founder and COO of Livspace; Dr Jaydeep Tank, a gynaecologist based in Mumbai and the Secretary-General, FOGSI; Deepak Vaidya, who has decades of experience in the field of pharmaceuticals, micro-finance, healthcare and private equity.

“The fresh appointments bring a great amount of cognitive diversity to the board, with luminaries from the world of public service, technology, pharma, medical fraternity, and the consumer sector," the company said.

API Holdings owns brands and platforms like PharmEasy, RetailIO, DocOn, Thyrocare.

Meanwhile, PharmEasy is finalising a US$ 200 million primary funding round ahead of its initial public offer (IPO) and is in talks with marquee investors from the US and South East Asia, such as Blackstone, BlackRock, Amansa Capital, Janchor Partners and OrbiMed, according to sources in the know of the matter.

PharmEasy may file its draft red herring prospectus (DRHP) by October.

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