Home >Companies >News >In run up to IPO, PharmEasy parent appoints 5 independent directors to board

MUMBAI: API Holdings Ltd, the parent of digital healthcare brand PharmEasy, on Monday said it has appointed five independent directors to its board.

“The fresh appointments bring a great amount of cognitive diversity to the board, with luminaries from the world of public service, technology, pharma, medical fraternity, and the consumer sector," the company said in a statement.

Mint had reported last month that API Holdings, which bought diagnostic chain Thyrocare in June, aims to raise a billion dollars at a valuation of $9 billion in its initial public offering later this year.

With the new appointments, API Holdings’ board strength stands increased to 12 directors.

The new appointments to the board include: Vineeta Rai, IAS (Retd) officer who was the ex-revenue secretary of India; Subramanian Somasundaram, who recently retired as the CFO of Titan Company Ltd; Ramakant Sharma, founder and COO of Livspace; Dr Jaydeep Tank, a gynaecologist based in Mumbai and the secretary general, FOGSI; Deepak Vaidya, who has decades of experience in the field of pharmaceuticals, micro-finance, healthcare and private equity.

“This is yet another step in our journey of being the best in class of Corporate Governance and lead the way for times to come. The diversity will help us provide integrated, digital healthcare solution across the length and breadth of India benefiting all stakeholders. We have luminaries from the field of public service, a leading doctor, a tech wizard & angel investor, a pharma veteran and someone who has seen consumer business very closely. This diversity will help us bring a paradigm shift with rapid digitisation of healthcare and enable across the board doctor consultation, diagnostics labs and the supply chain for delivering medicines. With diverse experience of our board, our platforms will continue to significantly invest to improve access to affordable healthcare," said Siddharth Shah, co-founder and CEO of API Holdings said,

API Holdings owns brands and platforms like PharmEasy, RetailIO, DocOn, Thyrocare.

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