Digital health company ABCD Technologies LLP, which counts leading Indian drug manufacturers as investors, has consented to completely get Pharmarack, a health-tech platform that allows companies to automate operations and sales.
Under the agreement, ABCD (to be renamed as IndoHealth Services LLP) has bought around 92 percent of their company, supplying an exit to early-stage enterprise company IvyCap Ventures.
IvyCap generated a yearly internal rate of return (IRR) of 104% in the bargain — a speedy and leading exit for the company which had spent Rs 21 crore in 2019. Afterward, Cipla also entered into an arrangement to spend around Rs 40 crore.
ABCD was put up in February 2020 to allow stakeholders to provide much better and cheaper patient-care solutions, in accord with the National Digital Health Mission. NDHM has got the mandate to create digital health infrastructure for the nation.
ABCD will be a holding thing and could tackle the company through one or more subsidiaries.
As an instance, in the past month, HealthPlix Technologies Pvt Ltd, which conducts an artificial intelligence-based medical documents stage, increased $13.5 million as a part of its continuing Series B round.
MediBuddy, previously DocsApp, also closed its Series B round of $40 million final months.