M&A

M&A

Rural healthtech co. Curebay acquires Saveo's pharma distribution biz

Mint  

Bhubaneswar-based rural healthtech startup CureBay has acquired the pharmaceuticals distribution business of Bengaluru-based B2B (business-to-business) health marketplace Saveo . The transaction was financed through CureBay's internal resources.Founded in 2019 by Amit Kumar, Anurag Savarnya, Shivansh Shrivastava, and Vivek Jaiswal, Saveo is a B2B healthtech marketplace focused on digitising pharmaceutical supply chains, ensuring no prescription bounces. It primarily serves pharmacies in Karnataka, Telangana, and Tamil Nadu. The acquisition integrated Saveo's 10,000 platform partners across Karnataka, Telangana, Andhra Pradesh, and Tamil Nadu into CureBay's network of 190 clinics.

Between Mar 2020 and Aug 2024, Saveo had attracted about USD 11 M from Incubate Fund Asia, India Quotient, RTP Global, Z47, Capier Investments, Gunosy Capital, Jetty Ventures, LC Nueva, Ocgrow Ventures, PeerCapital, Z Nation Lab and others.For FY24, Saveo had reported about INR 196 Cr in Operating Income and about INR 38 Cr in Net Loss.