PharmEasy-Backed Aknamed’s Net Loss Surges 14X To INR 171 Cr

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The healthcare supply chain startup Aknamed, backed by PharmEasy, reported a net loss of INR 171.02 crore in the financial year 2021-22, a 13.9 times increase from the previous year’s INR 12.29 crore net loss. The company’s operating revenue increased by 5.8 times to INR 854.85 crore, while total expenses ballooned by 6.3 times to INR 1,030.06 crore, driven by a 5-fold increase in expenses for the purchase of stock-in-trade, which accounted for the highest amount of overall expenses. The startup offers procurement solutions to hospital chains and mid-sized standalone hospitals using technology and competes with Mumbai-based B2B healthcare supply chain startup Medikabazaar. It’s interesting to know about the founding team of Aknamed and their mission to offer procurement solutions to hospitals using technology. It’s great to see startups working towards improving the healthcare sector by leveraging technology.

 In 2021, PharmEasy acquired a 66.1% stake in Aknamed for INR 191 crore, with API Holdings (PharmEasy’s parent company) investing an additional INR 307 crore in the healthcare supply chain startup.It seems that Medikabazaar, a Mumbai-based B2B healthcare supply chain startup, reported a net loss of INR 20.8 crore in the financial year 2021-22 (FY22), compared to a net profit of INR 61 lakh in FY21. Medikabazaar competes with Aknamed in the healthcare supply chain industry. According to the article, Aknamed’s expenses for the purchase of stock-in-trade increased 5 times to INR 816.3 Cr in FY22 from INR 163.06 Cr in FY21. Additionally, the startup’s employee benefit expenses surged 19.7 times to INR 146.82 Cr from INR 7.44 Cr in the previous fiscal year.