Taking a step further in its aggressive growth plans, Sequoia Capitalbacked online pharmacy 1mg on Monday announced that it has acquired Medd, a marketplace for booking diagnostic and imaging tests. 1mg did not divulge the deal size and structure.
With this acquisition, 1mg is expanding to offer a service for booking of imaging tests such as X-rays, CT Scans and MRIs.
Diagnostics is a $5-8 billion industry in India making up for 25% of the total pharmacy business.
Additionally, 1mg has brought on board Ankur Gigras, former marketing head for gastroenterology at Abbott.
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