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The chain has earlier attracted private equity firms including TVS Capital, US Private Equity Mount Kellett Capital and Ajay Piramal's healthcare fund. Some of them are planning to exit from the company, said a senior official. Reports stated that these investors together hold around 34 per cent of the company, which they acquired from Bahrain-based Arcapita Bank for Rs 410 crore in March 2011.
Madhukar Gangadi , Founder and Chief Executive Officer of the company said that currently the company has around 1,240 pharmacies across the country and 40 of these are franchisee run.
He was in Chennai to launch the company's new initiative online service - 'Click, Pick & Save' one of a kind e-commerce initiative, where by customers can log onto their portal search for medicines and read important facts about their usage, side effects, precautions to be taken and compare among alternative branded and generic medicines along with their prices.
In the next four years the chain is target expansion of its stores to 10,000 for which it will need Rs 2,000 crore, Gangadi said.
Gangadi ruled out any possibilities for an inorganic growth, considering no big chains are in the country, and also ruled out going for IPO in the coming years.
MedPlus reported a 33 per cent growth in turnover in 2014-15, which stood at Rs 1,430 crore as compared to Rs 1,080 crore a year ago. The first MedPlus pharmacy store opened in February 2006 in Hyderabad.
