Home healthcare service provider Portea Medical announced on Monday it had acquired specialty pharmaceutical distributor MedybizPharma through cash and a stock deal.
Portea Medical said the acquisition -- its first -- was done to strengthen patient engagement and provide better care for chronic disease patients in India.
Announcing the acquisition, Meena Ganesh, MD & CEO of Portea Medical, said: “Portea is already present across several chronic disease areas and with the acquisition of Medybiz, we are adding a vital and powerful, specialized pharma arm to deliver better pharmacy care to patients with chronic conditions who have ongoing needs for medication.”
Bengaluru-based Medybiz was started in 2009 and has 200 employees and services 26 cities in 19 states in the country. The company was acquired from the Reliance ADA Group by its management team in 2011. Kewal Handa, a pharmaceutical industry veteran and former managing director of Pfizer India, is the chairman of Medybiz.
“While diseases may respond to medicine, people respond to care, and chronic diseases in particular require specialized care over many years. We have always been committed to the best outcomes for patients and are therefore delighted with our alignment with Portea which will exponentially increase the impact we have on patients,” Handa said.
Medybiz’s offerings include healthcare services for diabetes, cardiology, oncology, osteoarthritis, osteoporosis, rheumatoid Arthritis, tuberculosis, neurology, etc.
Portea focuses on general primary health care, post-hospitalisation care, chronic disease management and allied services such as diagnostics and medical equipment on hire.