The Board of Directors at Medlife, www.medlife.com, have announced that Ananth Narayanan, former CEO of Myntra and Jabong and ex McKinsey Senior Partner, would be joining the company as Co-Founder and CEO.
In this capacity, Narayanan will be responsible for driving the next S curve of growth, continue to strengthen the team, lead M&As, and help formulate strategy around new areas of growth. He will also be joining the Medlife Board of Directors.
E-health company Medlife today has three business lines, including pharmacy, diagnostics and e-consultation. Since its inception in November 2014 by Prashant Singh and Tushar Kumar, Medlife has scaled rapidly to become the first e-pharmacy to clock 1000-crore revenue run rate.
Tushar Kumar and Prashant Singh, Founders, Medlife, said, âWe 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.â
Narayanan said, âTechnology 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.â
This announcement comes close on the heels of Medlife announcing the acquisition of Myra Medicines, Indiaâs only express pharmacy delivery service.
Narayanan is the former Chief Executive Officer of Myntra. He led Myntra's aspiration to transform how people shop for fashion online and also focused on building category-leading fashion brands. Featured as one of âIndia's Hottest 40 under 40 Business Leadersâ in 2014, Narayanan has deep expertise in driving performance improvement and has a particular passion for product development.
Prior to joining Myntra, Narayanan was a Director at Mckinsey & Company and worked with the firm for 15 years across four offices (Chicago, Shanghai, Taipei and Chennai). His role entailed leading the Product Development practice in Asia and working with companies on strategy, operations and organisation. He has successfully helped companies streamline operations and supply, improve product development, develop strategies, business plans and organisational models.
Narayanan has a Bachelor degree in Engineering from University of Madras and a Masters from the University of Michigan, in Industrial Engineering and Operations Research. He is on the Industry Advisory Board of University of Michiganâs Tauber Institute.
Medlife currently operates across 29 states, 4,000 cities and 25,000 pin codes in India fulfilling over 25,000 deliveries daily.
It operates its medicine delivery service through 40 fulfilment centres and three large regional hubs in 22 cities. It has one national and five regional laboratories and over 350 phlebotomists helping bring diagnostics to patientsâ homes