Home healthcare company Portea Medical acquires specialty pharmaceutical distributor MedybizPharma for an undisclosed consideration of cash and stock.
The move is aimed towards enabling Portea to strengthen patient engagement and provide better care for chronic diseases.
“Portea is already present across several chronic disease areas and with the acquisition of Medybiz, we are adding a vital and powerful, specialised pharma arm to deliver better pharmacy care to patients with chronic conditions who have ongoing needs for medication,” Said, Meena Ganesh, MD & CEO, Portea Medical.
Portea has previously raised $37.5 mn in Series B funding, led by Accel in September this year.
Note on MedybizPharma
Bengaluru headquartered MedybizPharma is a Pharmacy Benefits Manager (PBM) company. It claims to have served more than two lakh patients providing prescription refill and therapy compliance support for super-speciality medicines.
The company has 200 employees, a footprint across 26 cities in 19 states in India and was acquired from the Reliance ADA Group by its Management Team in 2011.