Acquisition of 70.80% Stake in Miljon Medi APP

MUMBAI-GlobalSpace Technologies Limited (BSE: 540654), a fast growing new-age technology company, today 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. The company claims to have some of the leading generics manufacturers already on the platform with an existing network of around 73 distributors and 9380 chemists as its active users. The company’s vision is to enable quality and certified generics reach the last mile so as to benefit the patients.

For GlobalSpace, it’s a strategic acquisition that would further consolidate its vision of creating a truly integrated digital healthcare ecosystem. The company has thought leadership in building a digital platform for pharma sales force and 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 and Web app, it would provide the much-needed technical scalability and viability to Miljon Medi APP. Merging GlobalSpace’s tech platform with Miljon’s existing network would surely provide us the initial impetus to grow this platform to be India’s largest Pharma channel network.”

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