1mg is acquiring Medd

Q.  1mg is expanding and acquiring which company?

- Published on 06 Jul 16

a. Medd
b. Madd
c. Midd
d. Mudd

ANSWER: Medd
 
With this acquisition, 1mg is expanding to offer a service for booking imaging tests such as CT Scans, MRIs and X-Rays. Diagnostics is a USD 5-8 billion industry in India making for 25% of the total pharmacy business.
  • 1mg currently offers these services across 23 cities is hoping to cover over 30 more cities 2016 with diagnostics and a total contribution of diagnostics in the revenue from 15 to 25 percent
  • Medd operates across Mumbai, Indore, Bhopal, Nagpur, Bengaluru and Jaipur
  • It was cofounded by IIT Bombay graduates Arpit Kothari and Anurag Mundhada and Carnegie Mellon graduate Era Dwivedi in 2015

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