MedPlus Health Services Limited was incorporated as a Private Limited Company with the name 'MedPlus Health Services Private Limited' in Hyderabad on 30 November, 2006. The Company converted from a Private Limited Company to a Public Limited Company, pursuant to a Special Resolution passed by Shareholders at the Extra Ordinary General Meeting held on 01 June 2021 and name of the Company was changed to MedPlus Health Services Limited on 28 June 2021. The Company is engaged in providing pathological laboratory testing and manufacturing, trading and contract manufacturing of pharma, FMCG and beauty products and rendering of management services to group companies and holds investments in subsidiary companies. The Company has six direct subsidiaries and five step-down subsidiaries. The Company now has 12 Diagnostics Centers in Hyderabad.
On 21 January 2021, the Company has issued and allotted 254674 equity shares of Rs 10 each as bonus shares to the shareholders in the ratio of 1.25:1.
On 05 August 2021,the company has allotted 29910085 equity shares of Rs 2 each on conversion of preference shares.The allotment of 14,976,000 Equity Shares to Gangadi Madhukar Reddy upon conversion of 2,995,200 Series B CCPS held by it,6,660,575 Equity Shares to Agilemed Investments Private Limited upon conversion of 1,332,115 Series B1 CCPS held by it and 8,273,510 Equity Shares to Lone Furrow Investments Private Limited upon conversion of 1,654,702 Series B2 CCPS.
During the month of December 2021,the company cameout with an Rs 1398.30-crore public issue which comprised a fresh issue of Rs 600 crore and an offer for sale(OFS) of Rs 798.30 crore by selling shareholders.The IPO shares were allotted at the price of Rs 796 per share including a premium of Rs 794 per share.The net proceeds of the fresh issue will be utilised for funding working capital requirement of subsidiary,Optival and general corporate purposes.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 23 December 2021.
During the year 2021-22, 747 stores were increased to the cluster store network of the Group. In March 2022, the Company launched its first Diagnostic Centre in Gachibowli, Hyderabad. It marked the presence with 2,748 Physical Stores during the year 2022. The Company launched its Diagnostic Services Centre in the year 2021 as pilot project.
During the year 2022-23, 1144 stores were added to the cluster store network of the Company. As on March 31, 2023 the Company's total fleet of stores stood at 3822.
During the year 2022-23, the Company incorporated a Subsidiary Company namely MedPlus Insurance Brokers Private Limited.
The Company launched MedPlus' branded pharmaceutical products in several therapeutic areas covering acute and chronic ailments in FY24. 670 stores were added to the cluster store network of the Company during the year 2024; which increased the total fleet of stores to 4407 from 3822 stores in 2023.