The acquisition was made for an undisclosed consideration of cash and stock
Portea Medical has acquired speciality pharma distributor MedybizPharma. The move is expected to help Portea strengthen its patient engagement and provide better care for chronic disease patients in India. The acquisition was made for an undisclosed consideration of cash and stock.
Announcing the acquisition Meena Ganesh, MD & CEO, Portea Medical said, “A structured and integrated approach enveloping awareness, monitoring and ongoing disease management is vital to tackle the battle India faces with chronic disease. While hospital-based treatments are important, continuing care delivered to patients at home is a key prong of effective treatment. Portea is already present across several chronic disease areas and with the acquisition of Medybiz, we are adding a vital and powerful, specialised pharma arm to deliver better pharmacy care to patients with chronic conditions who have ongoing needs for medication.”
Kewal Handa, formerly MD of Pfizer India, is the Chairman of Medybiz. Commenting on the development, Handa said, “While diseases may respond to medicine, people respond to care, and chronic diseases in particular require specialised 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.”