Aknamed Grows 10x In FY21 To Become India's Largest, Hospital-focused Supply Chain Enterprise

- Clocked revenues of ₹50cr in March 2021; aims to scale to ₹100cr/month by June 2021

- Backed by Lightrock, part of LGT Group (a global private banking and asset management firm with over $200B assets under management), who continue to invest behind the Company after starting with $7m in March 2020

- Delivered over $100m worth products directly to hospitals and hospital networks across the country in the last 12 months

- Already made 2 significant acquisitions - one in the generic pharma distribution space in Mumbai and the other in speciality pharma space in NCR - and on track for more

BENGALURU, India, April 7, 2021 /PRNewswire/ -- Aknamed (Akna Medical Pvt. Ltd.), India's largest tech-enabled hospital-focused supply chain platform, has taken giant strides in its growth aspirations, overcoming the pandemic in FY21. The company that enables hospitals to simplify, optimise and monitor procurement and consumption using a cloud-based technology platform, supported by a national infrastructure and a comprehensive product basket, ended FY21 reporting a 10x growth in its monthly revenue run rate, delivering in excess of ₹50cr in March 2021. Continuing to grow organically and inorganically, Aknamed is targeting achieving monthly revenues of ₹100 cr by June, 2021.

Sharing his thoughts on Aknamed and their core business model, Mr. Saurabh Pandey, Founder and CEO, Aknamed, said, "Today's healthcare industry is in a transformation phase, with technology playing a key role in driving this transformation at an accelerated pace. We have a national infrastructure and technology capability that is unmatched and can enable this rapid transformation and digitisation of the hospital supply chain. With operations across 16 locations catering to 75+ cities / towns across India, Aknamed operates a dedicated warehouse with cold-chain capability in each location, catering to pharma, vaccines, surgical and medical product consumption requirements of hospitals. We deliver to over 500 hospital units across India, and have helped them achieve significant savings in recurring procurement / consumption costs within a short span of time."

Commenting on the exponential growth and their business ambitions, Mahadevan (Mahad) Narayanamoni, Co-Founder & Chairman, Aknamed, said, "We, at Aknamed, are not building just another distribution business, but a market-defining, technology-driven unique enterprise that is at the core of the digital transformation of healthcare supply chain in India. We are delighted to have achieved this exponential growth in the last fiscal and thank the continued support and guidance from our financial partners, Lightrock from LGT Group. They have infused significant capital over multiple rounds enabling us build distinctive capabilities in infrastructure, technology, product portfolio and customer connects and grow the business exponentially. It is our constant endeavour to make a meaningful contribution to the digital health aspirations of hospitals in the country."

In a significant development, Aknamed recently made 2 strategic acquisitions - one in the generic pharma distribution in Maharashtra and another in the specialty pharma distribution space in the NCR region. The Aknamed platform delivered over $100m worth products directly to hospitals and hospital networks across the country in the last 12 months alone. The company counts some of the largest multi-specialty and single-specialty hospital networks of the country as its customers.

"We are building a "Technology-first" supply chain, to bring visibility, transparency and efficiency across the healthcare supply chain. Hence, we have set up The SmartBUY platform which enables hospitals to fully automate their procurement process. It also provides real-time inventory visibility and analytics, greater procurement and inventory management efficiency and ensuring daily replenishment leading to a significant decrease of procurement costs by 5-10%. This tech-enabled platform also allows OEMs to have real-time visibility on their outbound supply chain," added Mr. Saurabh Pandey, Founder and CEO, Aknamed.

About Aknamed

Aknamed (Akna Medical Pvt. Ltd.) is India's largest hospital-focused supply chain platform, enabling hospitals to simplify, optimise and monitor procurement and consumption using a cloud-based technology platform, national infrastructure and a comprehensive product basket. Aknamed aims to use scale, data and technology to transform the procurement function of the hospital into a strategic function, enabling the procurement and SCM teams at hospitals drive operational efficiency and profitability. The company partners with hospitals to optimise their procurement costs by using technology and scale and in turn with partners with manufacturers (OEMs) to take their products to hospitals most efficiently across the country. In the long term, the enterprise aims to leverage data to enable operators standardise consumption within a single location as well as across locations. Aknamed currently has direct physical presence in 16 locations across the country and is in the process of expanding to over 30 locations in the next 1-2 months. The Company has the largest product portfolio in the country from a hospital consumption perspective, comprising over 10,000 products across surgical and generic / specialty pharmaceuticals including vaccines and other cold-chain products.   

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