Ananth Narayanan has joined e-pharmacy company Medlife as the Co-Founder and Chief Executive Officer (CEO), the company said on Monday. He had stepped down as the chief executive of Walmart-controlled Myntra and Jabong six months ago.
In his new stint as CEO, Narayanan will participate in day-to-day activities of Medlife, lead mergers and acquisitions, and formulate growth strategies. He will also be a part of the Medlife Board of Directors. The appointment came just after Medlife announced the acquisition of Myra Medicines. The deal will reportedly grant Medlife the biggest market share in e-pharmacy segment.
Founded in November 2014 by Prashant Singh and Tushar Kumar, the company currently operates across 4,000 cities in 29 states across India, providing services along three verticals - pharmacy, diagnostics and e-consultation.
"Technology can play a disruptive role in making healthcare simple, personal, and accessible to all Indians. Medlife has built a terrific business and a great team. I look forward to working with them and with Prashant and Tushar to continue to scale the business," Narayanan said on his appointment as Medlife Co-Founder and CEO.
"We are very excited to have Ananth partner with us in this journey. We look forward to working together to scale Medlife rapidly going forward. We are at a stage where we have to build this from a $200 million business to a $2 billion plus business over the next 5 years and Ananth in his previous stint has done just that," said founders Prashant Singh and Tushar Kumar.
Before joining Myntra, Narayanan was a Director at McKinsey & Company. He has a Bachelor's degree in Engineering from University of Madras, and a Masters in Industrial Engineering and Operations Research from the University of Michigan. He is on the Industry Advisory Board of University of Michigan's Tauber Institute.
(Edited by Vivek Punj)