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Jan, 11 2019

Ola in talks to acquire in Myra Medicines

The Bhavish Agarwal-led firm is in talks to invest in or acquire medicine delivery startup Myra Medicines.

Cab-hailing major Ola is all set to foray into medicine delivery service. The Bhavish Agarwal-led firm is in talks to invest in or acquire medicine delivery startup Myra Medicines.

Driven by their common investor Matrix Partners, the deal is likely to be completed by the end of this month. If this deal gets finalised, it will mark Ola's entry into the burgeoning online medicine delivery sector.

A person familiar with the company's plans said, "This is part of Ola's strategy where they want to get into all kinds of deliveries. It will also help bail out Myra Medicines, which has been struggling in the highly competitive medicine delivery space."

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