MedPlus to invest Rs100 cr to open 350 stores in Delhi-NCR

MedPlus plans to invest up to Rs 100 crore to open over 350 stores in Delhi and NCR, taking its number of outlets to 400 by 2017-end. “We are looking to set up over 350 additional MedPlus stores in <g data-gr-id="11">Delhi NCR</g> by <g data-gr-id="18">end</g> of 2017 with an investment of up to Rs 100 crore. We already have around 40 company stores in the region,” MedPlus Health Services Founder and CEO <g data-gr-id="12">Madukar</g> <g data-gr-id="13">Gangadi</g> said, speaking on the sidelines of <g data-gr-id="17">launch</g> of the firm’s e-commerce service ‘Click.Pick&Save’ in the region. The company will be mainly following the franchise model for Delhi and NCR region though “we may also add 10 to 15 company-owned stores to the ones we already have here,” <g data-gr-id="14">Gangadi</g> added. When asked how the company plans to fund the expansion, <g data-gr-id="15">Gangadi</g> said, “It will be a combination of equity, debt and internal accruals. But mainly it will be through equity. We are already in the process of raising money from private equity partners.”