Tag: Akna Medical Pvt. Ltd

Business World

Vardhman Health Specialities in India Is Now Part of The Aknamed Group

May 19, 2021 by Neel Achary 0 Comments #Akna Medical Pvt. Ltd

Bengaluru, May 19, 2021: Aknamed (Akna Medical Pvt. Ltd.), India’s largest tech-enabled hospital-focused supply chain platform, today announced the successful transaction with Vardhman Health Specialties (Vardhman), one of the largest specialty products provider to hospitals with expertise in therapeutic areas such as oncology, immunotherapy, and virology. The integrated organization with a strong proficiency in hospital-focused distribution will work towards transforming and building India’s largest healthcare supply chain platform.

The transaction marks the 3rd addition to the Aknamed Group in the last 12 months, scaling the business to $200M in annualized revenues. Over the next 2 years, Aknamed is aiming to invest significant additional capital to fuel the group’s organic and inorganic growth plans, while continuing to invest in people, technology, and infrastructure. In fact, by the end of the current year, Aknamed will be present in 35 locations with the ability to serve over 500 cities and towns.

Mr. Naresh Chowhan, CEO of Vardhman spelling out the motivation for the transaction, remarked “We are extremely pleased in partnering with Aknamed. This partnership underlines the growing importance of consolidation in the pharma supply chain industry in India. It opens up significantly larger opportunities, apart from the synergies derived from the combined businesses of Vardhman and Aknamed. The improved value proposition for our clients and stakeholders will allow us to serve them better. The combination propels us to an unequivocal leadership position to tap the large growth potential of the Indian market.”

Commenting on the completion of the deal, Mr. Saurabh Pandey, Founder, and CEO, Aknamed, said, “We are delighted to welcome Vardhman as part of the Aknamed Group. The vision of Aknamed has always been on delivering excellence in customer service, transparent business processes and practices with all stakeholders, and developing exceptional technology-based supply chain processes in niche and therapeutic areas. Our vision and goal have resonated very well with the Vardhman team as their business has been built on similar values over the years. The focus is now to provide a top-notch supply chain service to the hospitals across the country.”

Given the high demand for medical supplies in this unprecedented time of crisis, the need of the hour is to build a strong healthcare supply chain management in the country. Hence, the combined teams of Aknamed and Vardhman are aiming to work towards building a robust hospital-focused supply chain in India, through the use of technology, data, high-quality infrastructure, and scale, delivering value to hospitals, OEM partners, and employees.

Sharing his views on the completion of the transaction, Mahadevan (Mahad) Narayanamoni, Co-Founder & Chairman, Aknamed, said, “I am excited about the combination of Aknamed and Vardhman as it will solve a significant number of procurement challenges, and will broaden the horizon of healthcare supply chain in India. We also thank the continued support and guidance from our financial partners, Light rock from LGT Group. We remain strongly committed in our endeavour to make a meaningful contribution to the digital health aspirations of hospitals in the country.”

Deloitte Corporate Finance was the exclusive financial advisors to Vardhman on the transaction.

Business World

Aknamed Grows 10x In FY21 to Become India’s Largest, Hospital-Focused Supply Chain Enterprise

Apr 6, 2021 by Neel Achary 0 Comments #Akna Medical Pvt. Ltd, #Aknamed, #Founder and CEO, #Mr. Saurabh Pandey

Bengaluru, April 06, 2021: Aknamed (Akna Medical Pvt. Ltd.), India’s largest tech-enabled hospital-focused supply chain platform, has taken giant strides in its growth aspirations, overcoming the pandemic in FY21. The company that enables hospitals to simplify, optimise and monitor procurement and consumption using a cloud-based technology platform, supported by a national infrastructure and a comprehensive product basket, ended FY21 reporting a 10x growth in its monthly revenue run rate, delivering in excess of ₹50cr in March 2021. Continuing to grow organically and inorganically, Aknamed is targeting achieving monthly revenues of ₹100 cr by June, 2021.

Sharing his thoughts on Aknamed and their core business model, Mr. Saurabh Pandey, Founder and CEO, Aknamed, said,

“Today’s healthcare industry is in a transformation phase, with technology playing a key role in driving this transformation at an accelerated pace. We have a national infrastructure and technology capability that is unmatched and can enable this rapid transformation and digitisation of the hospital supply chain. With operations across 16 locations catering to 75+ cities / towns across India, Aknamed operates a dedicated warehouse with cold-chain capability in each location, catering to pharma, vaccines, surgical and medical product consumption requirements of hospitals. We deliver to over 500 hospital units across India, and have helped them achieve significant savings in recurring procurement / consumption costs within a short span of time.”

Commenting on the exponential growth and their business ambitions, Mahadevan (Mahad) Narayanamoni, Co-Founder & Chairman, Aknamed, said,

“We, at Aknamed, are not building just another distribution business, but a market-defining, technology-driven unique enterprise that is at the core of the digital transformation of healthcare supply chain in India. We are delighted to have achieved this exponential growth in the last fiscal and thank the continued support and guidance from our financial partners, Lightrock from LGT Group. They have infused significant capital over multiple rounds enabling us build distinctive capabilities in infrastructure, technology, product portfolio and customer connects and grow the business exponentially. It is our constant endeavour to make a meaningful contribution to the digital health aspirations of hospitals in the country.”

In a significant development, Aknamed recently made 2 strategic acquisitions – one in the generic pharma distribution in Maharashtra and another in the specialty pharma distribution space in the NCR region. The Aknamed platform delivered over $100m worth products directly to hospitals and hospital networks across the country in the last 12 months alone. The company counts some of the largest multi-specialty and single-specialty hospital networks of the country as its customers.

“We are building a “Technology-first” supply chain, to bring visibility, transparency and efficiency across the healthcare supply chain. Hence, we have set up The SmartBUY platform which enables hospitals to fully automate their procurement process. It also provides real-time inventory visibility and analytics, greater procurement and inventory management efficiency and ensuring daily replenishment leading to a significant decrease of procurement costs by 5-10%. This tech-enabled platform also allows OEMs to have real-time visibility on their outbound supply chain.” added Mr. Saurabh Pandey, Founder and CEO, Aknamed.