Pharmarack Company Profile

Background

Pharmarack Technologies Private Limited, established in 2015 and headquartered in Pune, India, is a leading healthcare technology company specializing in automating the pharmaceutical supply chain. The company's mission is to enhance access to healthcare by improving the availability and affordability of pharmaceutical products through a connected ecosystem. Pharmarack's platform integrates various stakeholders, including pharmaceutical companies, distributors, retailers, hospitals, and public health enterprises, to streamline operations and reduce costs.

Key Strategic Focus

Pharmarack's strategic focus centers on digitizing and optimizing the pharmaceutical supply chain. The company offers a subscription-based Software-as-a-Service (SaaS) platform that automates order processing, inventory management, logistics, and analytics. By providing real-time insights and facilitating efficient resource management, Pharmarack aims to reduce operational costs and enhance decision-making for its clients. The platform serves a vast network, covering over 200,000 pharmacies, more than 5,000 pharmaceutical distributors, and 2,000 hospitals across India.

Financials and Funding

Pharmarack has successfully secured funding to support its growth and expansion:

Seed Round (February 2016): Raised $279,000.

Pre-Series A (September 2016): Secured $745,000 from investors including Unicorn India Ventures and Patni Group’s Currae Healthtech Fund.

Series A (September 2019): Obtained $3 million from IvyCap Ventures, with Vikram Singh joining the board as part of the deal.

In April 2021, Pharmarack was acquired by DigiHealth Technologies, a consortium comprising major pharmaceutical companies such as Sun Pharma, Cadila Healthcare, Lupin, and Torrent Pharma. The acquisition deal was valued at over INR 111 crore (approximately $15 million).

Technological Platform and Innovation

Pharmarack's platform stands out due to its comprehensive suite of services designed to address the complexities of the pharmaceutical supply chain:

SaaS Solutions: Automates order processing and inventory management, enabling seamless operations for distributors and retailers.

Delivery Enablement: Facilitates efficient logistics from order placement to billing, ensuring timely delivery of pharmaceutical products.

Analytics and Market Insights: Provides real-time data and actionable insights to optimize sales performance and resource allocation.

Digital Solutions: Offers tools for targeted digital and on-ground marketing campaigns, enhancing market reach and customer engagement.

By leveraging big data and AI-driven insights, Pharmarack empowers stakeholders to make informed decisions, reduce costs, and improve productivity within the healthcare sector.

Leadership Team

Pharmarack was founded by a team of professionals with diverse expertise:

Pradyumn Singh: Co-founder with extensive experience in corporate strategy and operations.

Kushal Bhandari: Co-founder with a background in the surgical instruments business, bringing industry-specific insights.

Anupam Sarawagi: Co-founder with a focus on technology and product development.

Bhavik Parmar: Co-founder contributing to business development and client relations.

Amit Backliwal: Joined as a co-founder in 2018, bringing additional leadership and strategic direction to the company.

Leadership Changes

In April 2021, following the acquisition by DigiHealth Technologies, Pharmarack underwent significant leadership changes. The acquisition led to the integration of Pharmarack's operations with DigiHealth's strategic objectives, aligning with the consortium's vision to digitize healthcare distribution in India.

Competitor Profile

Market Insights and Dynamics

The pharmaceutical supply chain in India is highly fragmented, with numerous intermediaries between manufacturers and retailers. This fragmentation presents challenges in inventory management, order processing, and logistics, creating opportunities for technology-driven solutions to streamline operations and enhance efficiency.

Competitor Analysis

Pharmarack operates in a competitive landscape with several notable players:

GOFRUGAL: Provides ERP solutions for various industries, including pharmaceuticals, focusing on inventory management and billing systems.

Logic ERP: Offers software solutions tailored for the pharmaceutical sector, emphasizing supply chain management and compliance.

Ginni: Specializes in supply chain management solutions, catering to the pharmaceutical industry's unique needs.

These competitors offer overlapping services, but Pharmarack differentiates itself through its comprehensive, integrated platform that addresses multiple facets of the pharmaceutical supply chain.

Strategic Collaborations and Partnerships

Pharmarack's acquisition by DigiHealth Technologies, a consortium of leading pharmaceutical companies, signifies a strategic collaboration aimed at digitizing and optimizing the pharmaceutical distribution network in India. This partnership enhances Pharmarack's market position and expands its capabilities to serve a broader client base.

Operational Insights

Pharmarack's platform offers several competitive advantages:

Comprehensive Integration: Combines various services, including order processing, inventory management, logistics, and analytics, into a single platform.