Over six months after his exit from Walmart-owned Myntra, Ananth Narayanan is back as CEO with e-pharmacy platform Medlife, said the company on Monday. Narayanan has joined as the company’s co-founder and CEO and will be involved in the firm’s day-to-day operations, apart from handling fundraising and mergers and acquisitions.
This comes at a time when the company has been in talks with multiple financial and strategic investors to raise around $150 million. Narayanan’s entry into Medlife also comes with an investment into the company of an undisclosed amount.
“This (Medlife) felt to me like Myntra at very early stages – with a $100 billion market (opportunity) and two percent penetration. Moreover, technology innovation in health is at its infancy and can be used for seamless e-consultation to medicine delivery to diagnostics,” said Narayanan, chief executive of Medlife.
Narayanan had joined Myntra in 2015 after replacing founder Mukesh Bansal. Prior to Myntra, he spent over 15 years at consulting firm McKinsey across geographies.