Pharma
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SAIF, Nexus invest in pharmacy company

The funds will be used to expand LifCare's footprint and make further investments into technology, the company said.

Published On Jul 25, 2018 at 10:55 AM IST

<p>"There is a huge need to strengthen our healthcare sector to the growing disease burden of the country."</p> — "There is a huge need to strengthen our healthcare sector to the growing disease burden of the country."

BENGALURU: Subscription pharmacy Corner Store Technologies that operates under the LifCare brand has raised $11 million (Rs 76 crore) in a series-B round from SAIF Partners, Nexus Ventures and IL&FS. The funds will be used to expand LifCare's footprint and make further investments into technology, the company said.

LifCare caters to patients with chronic illnesses. The company currently serves more than 3 lakh families in North India who take medicine refills every 30-60 days. These patients, suffering from diabetes, cardiac conditions, hypertension, renal disorders, and thyroid, require ongoing medication.