Akna Medical

Aknamed, legally known as Akna Medical Private Limited, is a digital-first hospital supply chain platform founded in India in 2018. The company was established by a team with extensive healthcare experience, including initial founders Saurabh Pandey and Mahadevan Narayanamoni, who were later joined by Mayank Kapoor, Shaunak Joshi, and Varun Vohra. Pandey, the CEO, previously worked as a healthcare director at an investment bank and COO at Mewar Hospital, while Narayanamoni, a graduate of IIT Madras, serves as Chairman and is also a Senior Advisor at TPG Capital.

The company's core business revolves around streamlining and optimizing the procurement and consumption processes for healthcare providers. Aknamed serves a wide range of clients, from large hospital chains and multi-specialty networks to standalone hospitals, nursing homes, and clinics across India. The business model is B2B, focusing on providing a technology-enabled platform that brings manufacturers, distributors, and healthcare providers together to increase transparency and efficiency in the supply chain. Revenue is generated by offering full procurement solutions, supply chain services, and SaaS tools to these healthcare facilities.

Aknamed's primary product is a cloud-based materials management software suite, which includes the 'SmartBUY' technology and analytics tool. This platform uses machine learning-based tools to analyze purchasing and consumption data, enabling hospitals to optimize inventory, reduce costs, and monitor their entire procurement lifecycle. The product portfolio is comprehensive, covering pharmaceuticals, surgical instruments, medical consumables, vaccines, and implants. Key features include real-time order tracking, consolidated procurement, and analytics-driven reporting. The company operates a pan-India infrastructure with over 40 cold-chain-enabled fulfillment centers.

Since its inception, Aknamed has achieved significant milestones, including raising $500,000 in angel funding in July 2019 and a $7 million Series A round in April 2020 led by LGT Lightstone Aspada. The company pursued both organic and inorganic growth, acquiring Vardhman Health Specialties in May 2021 for $35 million to expand its operations. In September 2021, Aknamed itself was acquired by API Holdings, the parent company of PharmEasy, to add hospital supply chain services to its portfolio.

Keywords: hospital supply chain, procurement platform, healthcare logistics, medical procurement, material management software, SmartBUY, healthcare analytics, pharmaceutical distribution, medical consumables, B2B healthtech, inventory optimization, hospital procurement solutions, digital supply chain, medtech, Saurabh Pandey, Mahadevan Narayanamoni, API Holdings, PharmEasy, Indian healthcare, surgical supplies, vaccine distribution, cost optimization, data-driven procurement, real-time tracking