Medplus secures rs 23 crore in First Insitutional round

Hyderabad, Mar 21 (UNI) Medplus Health Services, a pharmaceutical product distribution company today announced receipt of Rs 23 from ''ilabs'', which manges USD 300 million of capital by investing in growth-driven india-centric institutions.

Investment from ''ilabs'' would propel medplus expansion in the country, its CEO Madukar Gangadi told reporters here.

In the first phase, Medplus had development a distribution planform which enabled launch of 100 stores to bring customers trusted medicines at low prices. The investment from ''ilabs'' will provide people in both cities and rural markets easy access to genuine medicines.

It planned to launch 400 stores across different cities, including Chennai and Pune by June end, he added.

''ilabs'' Director Rajesh Raju said Medplus was well on its way to becoming India's largest pharmaceutical product distribution and value-added health service company.

UNI