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Tag: healthcare services

  • Why Is CBNITS One of the Best Software Services Companies in Kolkata?

    These days, technology and, more specifically, software development is crucial to the development of new ideas and the advancement of businesses and startups. The city of Kolkata, which is said to be the IT capital of Eastern India, is allowing for an unconstrained path regarding technological advancements. It can be challenging to choose the best software service provider from the many that have a base office in Kolkata.

    But not to worry because CBNITS, a leading provider of enterprise solutions and IT services, is the best of the best. On July 4, 2018, CBNITS India Private Limited, a private corporation, was established in Kolkata, West Bengal and is an organisation that strives to help a company transform and reach above and beyond with their digital solutions.

    But why is it the best software service company, you might ask. Numerous elements make them outstanding, such as their cutting-edge technologies that enables businesses to meet the obstacles at every stage of growth. But that’s not all; let’s dig a little further and discover why CBNITS is among the top providers of software services in Kolkata.

    What makes CBNITS unique?
    What Domains does CBNITS Specialise in?

    What makes CBNITS unique?

    Easy Solutions for Early-Stage Companies

    CBNITS claims to assist you in bolstering your IT foundation and realising new opportunities that enable quicker growth with its team of over 300 skilled cybersecurity experts, cloud engineers, expert-level software engineers, UX/UI designers, and data scientists.

    Back Startups up with excellent Software Support

    CBNITS is designed to provide you with the greatest ERP Solutions, support you as you move your project ahead, and help you thrive. This includes the initial idea to execution, ongoing support, and managing business growth.

    Overcoming The Skills Gap

    Is your company not particularly technically inclined? No issue! Because CBNITS knows where to put the right people for the right project with amazing skills and talent tailored to your needs.

    Cutting-Edge Technologies

    The engineers at CBNITS are skilled and experienced in advanced techs like Big Data & Hadoop, Cybersecurity, Blockchain, Data Science, AI & Machine Learning, IoT & Connected Devices, Software Development, SAP, DevOps & Infrastructure, Mobile & Wearables, UX/UI and Cloud Solutions which can help you and your firm touch the skies.

    What Domains does CBNITS Specialise in?

    CBNITS Logo
    CBNITS Logo

    Healthcare

    Health professionals and patients looking for help frequently use Teamwellness as a platform. The software simplifies the medical facility by connecting patients and practitioners for an online consultation. From start to finish, the patients and practitioners can do everything whilst sitting at home.

    The entire platform has been built by the company’s designing team using CSS and HTML and is available on iOS and Android. The technology used to make this platform includes Read Native, AWS, MySQL, CSS, Bootstrap, React, Node and HTML.

    The app allows the patients to select a medical speciality, view the doctors’ profiles and portfolios, view availability on calendar requests and make an appointment, schedule an appointment, view booking status, acquire confirmation and review and make payments.

    The app allows the practitioners to add medical experience and education, send meeting URLs, receive payments, and much more.

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    Cyber Security

    Businesses can securely communicate confidential papers with anyone within or outside the firm, thanks to the SaaS application from i2Chain. In accordance with GDPR and CCPA privacy rules, i2Chain enables banks, hospitals, accounting firms, mortgage companies, and others to securely transfer their IP, PHI, and PII with co-processing businesses. The zero-click technology from i2Chain protects documents with encryption, rules, and immutable audit logs. It is also independent of the type of cloud and storage used.

    This platform was built using Electron, Node, Cryptography, AWS Cognito, React, and Blockchain technologies.

    EdTech

    Both parents and students can utilise the site, which is adaptable for all platforms and gives them access to their courses and assignments. Additionally, there is a forum section where users can talk with other students and teachers about their assignments and classes.

    The dashboards allow parents to see their child’s progress.

    The platform has a number of secure payment gateways, including Stripe, credit card, PayPal, and others, to make it simple for students to pay and for instructors to receive payment.

    This platform was built using Node, AWS, React, CSS and HTML technologies.

    HR Tech

    To assist professionals, this platform uses machine learning and artificial intelligence by identifying their formula for professional growth and success. The behavioural skill level and in-depth analytical report of all users within the company are provided by the artificial intelligence and machine learning analytics, along with 16 free personality factor assessments, to help users identify their potential, suitability, and areas that need improvement.

    The platform is easy to use, responsive on all platforms and highly secure and was built using Tiger Graph, Javascript, React Native, CSS, Java Spring, AWS RDS and HTML technologies.

    E-Commerce

    The platform was created by the engineers at CBNITS to enable the delivery of everyday things and household goods to your home. You can select from three possible user options, namely, admin panel, buyers, and sellers. The Seller must sign up and list all relevant information about their products on the platform. Customers can browse products, add them to carts, and check out. Customers who have purchased things have the option of leaving reviews. The admin will be in charge of maintaining the platform’s overall functionality.

    The technologies used to create this platform include Node, Bootstrap, AWS, MySQL, React, CSS, and HTML.

    Conclusion

    Now you know why CBNITS is one of the best software services companies in Kolkata. With over seven years of experience and 1000 projects in over 20 countries, CBNITS has everything you might need to grow your business.

    FAQs

    Who is the founder of CBNITS?

    Rajdeep Bose & Naveen Chand Bachkethi are the founders of CBNITS.

    When was CBNITS founded?

    CBNITS was founded in 2018.

    What Domains does CBNITS Specialise in?

    Major domains for which CBNITS provides software solutions are:

    • Healthcare
    • Security
    • EdTech
    • HR Tech
    • E-Commerce

    How many employees does CBNITS have?

    CBNITS has 200-500 employees.

    What is the revenue of CBNITS?

    The operating revenue of CBNITS ranges from INR 1 Crore – 100 Crore annually.

  • MedPlus – Story of India’s Second Largest Omni Channel Pharmacy

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by MedPlus.

    There are millions of businesses in the world but not all of them carry equal importance. Some may be for entertainment, some for food, essentials, knowledge development, etc., but a basic requirement for running all the above businesses is our health. A place/business that helps us in taking good care of our health next to hospitals are the pharmacies. Carrying such importance, this industry has always seen growth. Now, by combining technology and healthcare needs, the pharmaceutical industry is enhancing itself to provide better and quick healthcare assistance to people.

    MedPlus is one such pharmacy retailer offering multiple health services. They provide services like path labs, optical stores and physician consultation services, in addition to selling prescription medicines. MedPlus was established in 2006 by Madhukar Gangadi. Here, in this article, is the formation and growth of MedPlus along with its funding history, business and revenue models.

    MedPlus – Company Highlights

    Name of the Company MedPlus
    Headquarters Hyderabad, India
    Industry Pharmacy
    Founder Madhukar Gangadi
    Founded 2006
    Total Fund Raised $317.7 million
    Website medplusindia.com

    MedPlus – Latest News
    MedPlus – About
    MedPlus – Industry
    MedPlus – Founders and Team
    MedPlus – Mission and Vision
    MedPlus – Business and Revenue Model
    MedPlus – Challenges Faced
    MedPlus – Funding and Investors
    MedPlus – Growth
    MedPlus – Competitors
    MedPlus – Future Plans
    MedPlus – FAQs

    MedPlus – Latest News

    December 23, 2021 – Shares of MedPlus were listed on BSE and NSE on 23rd December. They were made available at a premium of 31 per cent. But the price ended at a gain of more than 40%, which is considered a big jump for MedPlus’s debut trade.

    December 13, 2021 – The IPO subscription of MedPlus Healthcare Services opened on December 13. Though aggressive pricing has been followed by the company for its IPO, investors showed ample interest in the bidding. Almost 70% of the issue was subscribed on Day 1.

    MedPlus Health Services IPO

    MedPlus – About

    MedPlus is an omnichannel pharmacy retailer offering healthcare services in India. The company sells medicines on prescriptions, FMCG products, nutritional supplements and many more. MedPlus also offers optical solutions and other medical consultation services in the country. It is based in Hyderabad and is the 2nd largest pharmacy chain in India, next to Apollo Pharmacy.

    MedPlus, during its initial stages, operated under the name ‘Aushadi’. It was renamed ‘MedPlus’ after expanding its operation to over 48 retail stores. MedPlus Mart is the e-pharmacy store through which the company sells medicines online.

    MedPlus – Industry

    MedPlus belongs to the Pharmaceutical Industry. The pharmaceutical industry involves dealing with research, development, marketing and sales of medicines and drugs. They aim at preventing, protecting and curing the illness. The industry also deals with medical equipment and generic medications.

    India’s pharma industry is huge. It is the largest supplier of generic medicines and ranks 3rd by overall production in the world. India meets the vaccine demand of the world by 50%, the generic medicine demand of the US by 40% and the UK by 25%.

    MedPlus – Founders and Team

    Madhukar Gangadi - MedPlus Founder
    Madhukar Gangadi – MedPlus Founder

    MedPlus was founded by Madhukar Gangadi in 2006 in Hyderabad. He has also served as the Chief Executive Officer of the company since its inception. Gangadi has an MBA degree from the Wharton School. He also earned a bachelor’s degree in medicine and surgery from the Sri Venkateshwara University. He used his experience in both healthcare and entrepreneurship to start MedPlus. The other core team members of MedPlus are:

    • Bhaskar Reddy Cherukupalli – COO (Retail stores)
    • Surendranath Mantena – COO (MedPlus Mart)

    MedPlus – Mission and Vision

    MedPlus Logo
    MedPlus Logo

    MedPlus runs with a mission to turn itself as the customer’s first choice when it comes to medicines and healthcare. The company wants to understand the customer’s needs and exceed their expectations as much as possible. MedPlus has the vision to bring about a revolution in the healthcare industry in India.

    MedPlus – Business and Revenue Model

    MedPlus is an omnichannel platform that provides services through both retail stores and online platforms. The company increased its retail stores through franchises. MedPlus first chooses an area and studies its market, demographic needs and supply chain. Then it starts expanding its retail stores in and around the area by proper planning and implementation of strategies. Later, the company uses this growth and supply chain to expand its operations further.

    MedPlus also operates its pharmacy business online through MedPlus Mart. This service was started in 2015 and was expanded across the country. MedPlus claims to be the first to start an omnichannel pharmacy in India. The company also entered the path labs and optical businesses in 2020. The revenue of MedPlus flows from the sale of medicines and other healthcare services offered by the company directly or through their franchisees across the country.

    MedPlus – Challenges Faced

    MedPlus faced severe challenges and criticisms at the time of establishing their online platform MedPlus Mart. The All India Organization of Chemists and Druggists (AIOCD) organized a nationwide strike against the company for starting e-pharmacies. They criticized that the chemists around the country will be severely affected by this MedPlus’s initiative. Then MedPlus made their sales policy explicit and clarified that they are complying with every aspect of the Drug Act.

    MedPlus – Funding and Investors

    MedPlus managed to raise a sum of $317.7 million through 7 rounds of funding. A total of 6 investors have invested in the company so far. Here is the company’s list of fundings:

    Date Round Money Investors
    February 11, 2021 Private Equity Round $13.5 million Warburg Pincus, PremjiInvest
    April 1, 2019 Series C – PremjiInvest
    January 2, 2018 Debt Financing $117.7 million Goldman Sachs
    December 15, 2017 Series C $1.1 million –
    November 10, 2014 Series C $89.9 million Mount Kellett Capital Management
    March 14, 2011 Private Equity Round $90 million TVS Capital Funds, Mount Kellett Capital Management
    March 22, 2007 Private Equity Round $3.1 million Peepul Capital LLC

    MedPlus – Growth

    Starting its operations in 2006, MedPlus has seen enormous growth in about one and half decades. Today, the company has widened its business to over 2100 pharmacies across 7 Indian states. It also adapted to the technological advancements and established an online platform in 2015 to ease and widen its sales to customers. MedPlus has now issued its IPO thus aiming to enlarge its operations to every corner of the country in the future.

    MedPlus also had consistent revenue growth over the years. The company’s CAGR growth is expected to grow 25% between the financial year 2020 and 2025. The market share of this omnichannel entity is 22% as of 2021. Similarly, the company reported an increase in revenue and profit for 2021, which was severely affected in 2020 due to the pandemic. At the end of the third quarter of 2021, MedPlus had revenue of ₹1890.9 crores and a profit of ₹66.36 crores.

    MedPlus – Competitors

    MedPlus has earned quite a good competition all through its operation span of over 16 years. Few of them, like Apollo, are omnichannel competitors. In fact, Apollo stands to be the largest pharmacy retail chain in India. In addition to it, few other companies, which show promising growth and worthy competition to MedPlus, have emerged. Here are some of them:

    MedPlus – Future Plans

    MedPlus launched its Initial Public Offering in the name of MedPlus Health Services by mid-December 2021. The company is expected to be valued high in the near future. It is also planning for potential financial growth in the long term. MedPlus has decided to use the proceeds from IPO for meeting the future working capital requirements of the company. The majority of the funds are expected to be used for developing Optival Health Solutions. MedPlus is strategically planning every step to bridge the gap with the competitor ahead. The CEO Madhukar Gangadi confidently said that the MedPlus will overtake Apollo within the next two and half years.

    MedPlus – FAQs

    What is MedPlus?

    MedPlus is an omnichannel pharmacy retailer offering healthcare services in India.

    Who is the founder of MedPlus?

    Madhukar Gangadi founded MedPlus in 2006. He is the CEO of the company.

    Who are the top competitors of MedPlus?

    Some of the top competitors of MedPlus are:

    • PharmEasy
    • Apollo pharmacies
    • Netmeds
    • 1mg
    • MedLife

    How many retail stores does MedPlus have in India?

    MedPlus has over 2100 stores in the country as of March 31, 2021.