PharmEasy parent API Holdings appoints five independent directors

Our Bureau Mumbai | Updated on September 13, 2021

The move comes against the backdrop of Thyrocare stake acquisition

API Holdings, the parent company of online pharmacy brand PharmEasy, has appointed five independent directors to its board of directors.

Following the approval by its shareholders along with the resignation of several investor nominee directors, the API board has 12 members, including five independent directors, a note from the company said.

The charge of the young brigade from PharmEasy

They include Vineeta Rai, former Revenue Secretary, Subramanian Somasundaram recently retired as the CFO of Titan Company, Ramakant Sharma, an angel investor and Founder and COO, Livspace, Dr Jaydeep Tank, Gynaecologist, and Deepak Vaidya, with a background in pharmaceuticals, micro-finance, healthcare and private equity, the note said.

PharmEasy buys out Thyrocare for ₹4,546 cr

The development comes against the backdrop of the ₹4,546-crore deal that API Holdings recently announced when it picked up 66.1 per cent stake in Thyrocare Technologies from founder Dr A Velumani. Meanwhile, a Thyrocare announcement to the stock exchange earlier this month said Dr Velumani had resigned from the post of Chairman and Managing Director.

Published on September 13, 2021

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