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Netmeds sticks to e-route for now

Plans to open brick-and-mortar stores on the backburner, says CEO

Aneesh Phadnis  |  Mumbai 

NetMeds (Photo: Official website)
NetMeds (Photo: Official website)

Netmeds, the chain, has put its plans of setting up brick-and-mortar retail outlets in on hold, as it continues expansion in Tier-II and -III towns. For now, it is setting up five new warehouses. It also plans to double the number pharmacists on rolls to 120 over the year to support growth. Earlier in the year, had announced plans to open 10 stores to cater to patients with immediate The offline presence would have helped the company serve a larger pool and in brand building. But, that plan is now on the backburner. “We will look at opening stores later but the plan is on hold now,” said Pradeep Dadha, the chief executive officer and founder of He said the government’s proposed regulations for e-pharmacies will not impact their and the portal does not dispense without valid The is owned by the Dadha family and has minority investments from healthcare-focused investment firm Orbimed and boutique investment bank MAPE. In 2015, had secured $50-million funding from its investors.

It acquired Delhi-based hyperlocal drug delivery service Pluss in 2016. Dadha said the company has no acquisition plans for now and refused to discuss funding plans. “The is growing at a CAGR (compounded annual growth rate) of 20 per cent and we are focused on expanding our presence in Tier-II and -III towns. In metro such as Mumbai, Delhi, Bengaluru and we will soon guarantee delivery to our customers in 24 hours.

First Published: Thu, October 26 2017. 20:13 IST
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