MedPlus
Indian pharmaceutical retailer
From Wikipedia, the free encyclopedia
MedPlus Health Services is an Indian pharmacy retail chain, headquartered in Hyderabad.[3] MedPlus is the second largest pharmacy chain in India, operating over 4,230+ pharmacy stores across 600 cities, as of 2024.[4]
 | |
| Company type | Public |
|---|---|
| NSE: MEDPLUS BSE: 543427 | |
| Industry | Pharmacy retail |
| Founded | 2006 |
| Founder | Madhukar Gangadi |
| Headquarters | , India |
Number of locations | 4,230+ stores (2024) |
Area served | India |
| Revenue |  ₹4,603 crore (US$540 million) (FY23)[1] |
 ₹49 crore (US$5.8 million) (FY23)[1] | |
Number of employees | 10,000+[2] (2015) |
| Subsidiaries | MedPlusMart.com MedPlusLab.com MedPlusLens.com MedPlusIndia.com |
| Website | www |
MedPlus sells prescription and OTC medicines, FMCG products, vitamins and other nutrition supplements, and opticals.[citation needed] It also offers clinical laboratory services and physician consultation services in Hyderabad, Vijayawada and Bangalore. The company owns and runs ePharmacy[5] and an online clinical lab service.[6][7]
History
MedPlus was founded in 2006 by Madhukar Gangadi. The company's first store was launched in Hyderabad.[8] Initially operating under the Aushadhi brand name, it was rebranded as MedPlus after the opening of the first 48 stores.[citation needed]
The company opened pharmacies in the western states of Gujarat and Rajasthan in 2007 but had to shut down and exit operations due to recurring losses.[9] It relaunched stores in Ahmedabad, Gujarat in 2014.[citation needed]
In 2008, it opened diagnostics centers in five cities under its subsidiary MedPlus Pathlabs.[10] In 2015, it started its e-pharmacy division.[11]
In December 2021, MedPlus Health Services launched its initial public offering (IPO) and got listed on the Indian stock exchanges.[12]
Criticism
The AIOCD (All India organization of Chemists & Druggists) called for a nationwide strike on 14 October 2015 against online sale of drugs and criticized ePharmacies[13] like MedPlusMart.com as illegal and a threat to the interests of around 8.5 lakhs chemists [14] around India. MedPlus defended its online sales policy[15] as being in compliance with the current drug act and as a valuable service to its customers.
