Mumbai, India – In a strategic move to bolster its footprint and address the unmet need for affordable healthcare in Eastern India, Mumbai-based healthcare startup Zeno Health, backed by $25 million in funding, has acquired Kolkata-based Tablt Pharmacy. Finalized in February 2023, the acquisition underscores Zeno Health’s ambition to become a leading player in the Indian pharmaceutical landscape.
Leveraging Tablt’s Network for Wider Reach
Zeno Health, renowned for its omnichannel platform offering quality generic medicines, will gain a significant advantage by integrating Tablt Pharmacy’s established network of nearly 300 franchises across West Bengal, Odisha, Bihar, and Jharkhand. Crucially, Tablt Pharmacy focuses on Tier 2 to Tier 6 regions, which are often overlooked by larger pharmacy chains. This strategic acquisition will bridge the gap and provide greater access to affordable healthcare solutions in these underserved areas, potentially reaching millions of new customers.
Synergy Creates a Powerhouse for Affordable Care
The combined entity will create a formidable force in the Indian pharmaceutical space. Zeno Health, founded in 2017 by IIT Bombay alumnis Siddharth Gadia and Girish Agarwal, brings its well-established presence in Maharashtra with 180 omnichannel stores serving a customer base of 25 lakh, and a robust omnichannel platform. While Tablt Pharmacy offers a strong foothold in Eastern India with its reach in Tier 2-6 cities. This synergy is expected to significantly expand Zeno Health’s customer base, with the company aiming to serve over 1 crore customers every month. Furthermore, the acquisition aligns with Zeno Health’s mission to make quality healthcare accessible and affordable, potentially reducing healthcare expenditure for a vast population by 50%, as they have achieved with their existing customer base. In the last 6 years, Zeno Health has generated a total of Rs 700 crore in savings for its consumers.
Looking Ahead: A Future-Proofed Healthcare Ecosystem
Beyond immediate expansion, Zeno Health has outlined plans to leverage Tablt’s strong regional presence to integrate telemedicine services. This will allow them to address the critical shortage of medical professionals in rural areas by providing access to online consultations with qualified doctors. Additionally, Zeno Health is exploring the possibility of leveraging Tablt’s existing franchise network to establish mini-diagnostic centers, further enhancing their reach and service offerings in Eastern India. Over the next 3 years, the start-up aims to expand its stores from 180 to 500 and the number of community partners (likely referring to Tablt franchises) from 300 to 2000.
With this strategic acquisition and ambitious future plans, Zeno Health has positioned itself for significant growth. By combining its strengths with Tablt Pharmacy, the company is well-equipped to address the growing demand for affordable healthcare solutions across a wider geographical area. This move signifies Zeno Health’s commitment to making a positive impact on the Indian healthcare ecosystem.
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