Former Myntra-Jabong CEO Ananth Narayanan joins Medlife as co-founder, CEO
Bengaluru-based healthtech platform Medlife announced it has appointed Ananth Narayanan as chief executive officer (CEO) and co-founder.
Narayanan, the former CEO of Myntra-Jabong, will be responsible for devising strategies to drive growth, strengthen the team and lead mergers and acquisitions, a statement issued by Medlife said.
Narayanan would be joining the Medlife board of directors, the statement added.
Narayanan has served as a director at McKinsey & Company. His roles at the management consulting firm included supervision of strategy and operations for its clients and product development practice in Asia.
"We look forward to working together to scale Medlife rapidly going forward. We are at a stage where we have to build this from a $200 million business to a $2 billion-plus business over the next 5 years and Ananth in his previous stint has done just that,” said Tushar Kumar and Prashant Singh, co-founders of Medlife.
Founded in 2014 by Kumar and Singh, Medlife is a self-funded online platform for healthcare services. The duo also runs Tulip Lab, a company which manufactures herbal and allopathic medicinal products.
The healthtech platform, which started with facilitating medicine delivery, eventually diversified into providing solutions such as e-consultation with doctors and home sample collection services.
Mumbai-headquartered pharmaceutical giant Cipla is reportedly in talks to invest Rs. 170 crore (around $24 million) in Medlife.
This May, Medlife acquired online pharmacy app operator Myra Medicines to strengthen sales of pharmaceutical products and expand its services across the country.
In January this year, Medlife acquired Mumbai-based digital healthcare platform and home diagnostics services company MedLabz for an undisclosed amount.
Medlife recently received an infusion of $17 million from the family trust of its founder Tushar Kumar.
Medlife competes with Mumbai-based PharmEasy, Chennai-based Netmeds and Gurugram-based 1mg.