We are pleased to inform that Argus Partners has advised Zeno Health (Workcell Solutions Private Limited), a health-tech startup and omnichannel pharmacy platform for generic and branded medicines, on its acquisition of certain assets and liabilities, on a slump sale basis, from a Kolkata-based startup, Tablt Pharmacy.
This acquisition would enable Zeno Health to strengthen its presence in the States of West Bengal, Odisha, Bihar and Jharkhand where Tablt operated through more than 300 franchises to provide last mile medicine supply services in underserved markets.
Commenting on the transaction, Girish Agarwal, co-founder of Zeno Health stated, “Our aim is to serve more than 1 crore customers every month and we also hope to reduce healthcare expenditure by 50 per cent. Thus our merger with Tablt will expedite our journey to rural and semi-urban areas, addressing the immense need for generic medicine.”
Further, according to Siddharth Gadia, co-founder and CEO, Zeno Health, “We operate in metro cities through our omnichannel presence. We feel that with the unique model of Tablt, we will be able to expand our reach into those markets.”
The team at Argus Partners advising Zeno Health comprised of Abhinav Bhalaik and Neha Madan (Partners), and Ishita Agarwal (Senior Associate) and Kanishk Gambhir, Samridhi Kapoor (Associates).