NEW DELHI: Months after his exit from Walmart-owned Myntra, Ananth Narayanan is back into the CEO’s shoes at e-pharmacy platform Medlife. Narayanan has also invested in the company in his personal capacity, which lent him the co-founder tag. He will now be involved in the firm’s day-to-day operations, apart from handling fundraising and mergers and acquisitions, the company said on Monday.
The appointment comes ahead of Medlife’s first institutional fundraising round. The company is in the midst of raising $150 million from strategic as well as institutional investors, Medlife confirmed without disclosing further details.
“Healthcare is a $100 billion market in India and only about 2 per cent of the market is online today. It seems very similar to Myntra and e-commerce in the early days and we’re (Medlife) looking at a 10x growth ahead of us,” said Narayanan. “Unlike retail, this is also space where tech has not had much impact. So, we think we can disrupt the market.”
Medlife was founded in November 2014 by Tushar Kumar and Prashant Singh and was run by the duo up until now. Narayanan will be the first professional CEO to head the company. Even as Medlife is a smaller firm than Myntra at this juncture, Narayana believes the scope for growth is even larger.