GlobalSpace Technologies Limited, a fast-growing new-age technology company announced the acquisition of 70.80% stake in Miljon Medi APP for an undisclosed sum.
Miljon Medi APP is a health tech startup with B2B Digital Platform (“Platform”) that connects Generics pharmaceutical manufacturers to the entire Pharma channel till retail chemist. Company claims to have some of the leading Generics Manufacturers already on the Platform with an existing network of around 73 distributors & 9380 Chemists as its active users. Company’s vision is to enable quality & certified generics reach the last mile so as to benefit the patients.
For GlobalSpace, it’s a strategic acquisition which would further consolidate its vision of creating truly integrated digital healthcare ecosystem. Company is having thought leadership in creating digital platform for Pharma sales force & Doctors.
Commenting on the transaction, Mr. Krishna Singh, MD, GlobalSpace said “This is a synergistic acquisition for us, we have already built an evolved digital platform for Pharma distribution including ERP, Mobile & Web app, it would provide the much-needed technical scalability & viability to Miljhon Mediapp. Merging GlobalSpace’s tech platform with Miljhon’s existing network would surely provide us the initial impetus to grow this platform to be India’s largest Pharma channel network.
About GlobalSpace Technologies:
Founded in 2010, Globalspace Technologies is a BSE SME listed, fast growing technology company, working in the domain of cutting edge technologies like cloud, big data, artificial intelligence, robotics and machine learning. The Company has a domain expertise and thought leadership in healthcare technology where its products and solutions are used by over 25 leading pharma and healthcarecompanies.
Company recently announced its Annual results for FY 17-18, Total revenue for the year ended March 31,2018 stood at Rs 29.2 crore, as compared to Rs 17.3 crore in the same period last year, a growth of 69%. Net Profit for FY18 stood at Rs 2.3 crore, as compared to Rs 1.03 crore in FY17, growth of 127%.
