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Everstone Capital-backed Ascent Health to pump Rs 500 cr in next 3 to 4 yrs

The plan is to acquire distributors and small pharmacy retail chains, among others

Drugs, Pharma, medicine
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Gireesh Babu Chennai
Everstone Capital-backed pharmaceutical distribution firm Ascent Health and Wellness is looking at investing around Rs 500 crore in the next three to four years.

The plan is to acquire distributors and small pharmacy retail chains, among others. The firm supplies to around 20,000 retail outlets at present. It is looking at raising around Rs 300 crore of funds next year. Ascent Health raised around Rs 400 crore in 2016 from Everstone, Nimesh Kampani of JM Financials and US-based hedge fund Think Capital. 

The plan now is to develop a model where it could offer ‘smart pharmacy’ capability to traditional stores

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First Published: Mar 28 2019 | 12:23 AM IST

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