Online pharmacy PharmEasy's chief financial officer (CFO) Chebolu V Ram, on Wednesday announced that he has quit from his role to join healthcare supply chain services firm Entero Healthcare, through a post on professional social network LinkedIn.
CV Ram was onboarded as the chief financial officer at Entero Health, after his two-year stint at PharmEasy, owned by API Holdings Ltd. According to his LinkedIn profile, the former PharmEasy CFO worked in his previous role till October last year. In his earlier stints, he has worked at top positions at several firms including Apollo Health and Lifestyle Ltd, GE Capital, Impresario Handmade Restaurants, among others.
Founded in 2018, Mumbai-based Entero Healthcare is a healthcare supply chain aggregator, serving manufacturers, corporate and non-corporate hospitals, pharmacies and diagnostic centers. The supply chain firm is backed by healthcare-focused investment firm OrbiMed, which invested about Rs 105 crore in the firm in 2018, VCCircle earlier reported.
The firm claims to have presence in over 24 cities with about 3 lakh square feet of warehousing capabilities.
API Holdings, PharmEasy’s parent, in November raised an undisclosed amount in debt from growth-stage financing platform EvolutionX Debt Capital.
The parent company had also announced the withdrawal of its Rs 6,250-crore public listing plans in August last year, citing market conditions and strategic considerations. At that time, the company had said that it would instead raise funds from existing shareholders via a rights issue.
PharmEasy was founded in 2015 by Dharmil Sheth and Dhaval Shah as a subsidiary of Ascent Health. Besides the delivery of medicines, the company offers diagnostic tests to customers.
The healthtech firm works closely with pharmaceutical companies, wholesalers, pharmacies, hospitals, doctors and clinics and diagnostic labs through a connected ecosystem with a nationwide presence. It claims to have more than 6 million transacting users, over 150,000 active pharmacies and about 1,800 hospitals. It counts Prosus TPG and Temasek as investors.
