Medplus Health Services offers a wide range of products, including (i) pharmaceutical and wellness products, including medicines, vitamins, medical devices and test kits, and (ii) fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitizers. The company was founded in 2006 by Gangadi Madhukar Reddy, its Managing Director and Chief Executive Officer, with the vision to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology.

The company employs a data analytics driven cluster-based approach to its store network expansion, whereby it first achieve high store density in a densely-populated residential area within a target city before expanding its store network in the surrounding areas within that city, followed by expansion into other adjacent cities. Its cluster-based approach to store network expansion is also driven by its understanding of the catchment demographics, market dynamics, and its ability to support store expansion with back-end infrastructure, such as warehouses and distribution centres. This approach and understanding allow it to (i) create brand visibility within the cities where it operate, through focused implementation of marketing and advertising initiatives, (ii) increase its market share in the cities where it operate, (iii) replicate its growth model in adjacent underserved cities and towns, as it develop its presence in those clusters, and (iv) generate cost efficiencies due to operating leverage achieved in its supply chain and inventory management. It has a streamlined and methodical store opening process, and dedicated operations and business development teams at the area, city and state levels that would vet and approve the opening of new stores.

Business area of the company

MedPlus is one of India's leading healthcare companies with an ever-growing number of pharmacy stores, online pharmacy, path labs and optical services.

Awards, accreditations and recognitions

• 2012: VC Circle Awards - Best VC-backed Healthcare Services Company.
  
• 2017: Hans India - hmtv Business Excellence Award - Best in Retail category.

Major events and milestones

• 2007: Pharmaceutica Ventures Limited invested Rs 800 million, by subscribing to 45,720 equity shares, Peepul Capital Fund II LLC invested Rs 226.33 million by subscribing to 30,000 equity shares of the Company and NEA-IndoUS Venture Capital LLC invested $5 million by subscribing to 11,620 equity shares of our Company (out of which 4,662 equity shares through conversion of Series A CCPS.)
  
• 2012: EBITDA of the Company turned positive.
  
• 2017: Gangadi Investments Private Limited acquired 122,347 equity shares, 12,000,000 unlisted redeemable preference shares and 42,847,000 non-convertible debentures from MKCP Direct Investments (Mauritius) IV Limited, MKCP Institutional Investor (Mauritius) III Limited, TVS Shriram Growth Fund IA and Indiaventure Trust -Fund I.
  
• 2019: PI Opportunities Fund - I invested acquiring 22.21% stake of the Company as on date, pursuant to purchase of 21,233 equity shares.
  
• 2021: Lavender Rose invested Rs 6.56 billion, acquiring a 24.58% stake of the Company as on date through primary and secondary transactions.
  
• 2021: PI Opportunities Fund - I invested Rs 222.10 million by subscribing to 160,147 Series C2 CCPS.