Mumbai | August, 2025 — After a decade of building one of India’s largest digital health platforms, Siddharth Shah, co-founder and CEO of Pharmeasy, is stepping away from the corner office.
Parent company API Holdings announced that Shah will transition to the role of Vice Chairman and Director, effective August 27. The move marks a leadership shift just as the company prepares for a long-anticipated IPO.
Stepping in as the new Managing Director & CEO is Rahul Guha, who currently leads Thyrocare, the diagnostics chain acquired by API in 2021. Guha will now hold a dual role heading both Thyrocare and Pharmeasy’s parent entity bringing tighter operational focus to the group.
Guha’s elevation isn’t sudden. He previously served as President of Operations at API Holdings, overseeing group-wide integration. This continuity is central to API’s next chapter as it consolidates e-pharmacy, diagnostics, and healthcare logistics under one strategy.
Over the past year, several co-founders including Dharmil Sheth, Dhaval Shah, and Hardik Dedhia have also stepped back from daily operations, focusing on their new venture, All Home. But Siddharth Shah remains an active voice on the board, guiding the platform he helped scale from a small Mumbai startup to a healthtech unicorn.
This transition comes at a critical time. The digital health sector is under investor scrutiny, margins are tightening, and IPO windows are narrow. Bringing in a seasoned operator like Guha suggests a deliberate shift toward stronger governance, financial discipline, and IPO readiness.
Final Take
This isn’t just a leadership shuffle it’s a signal. Indian startups that once ran on founder energy are now moving toward structured, investor-aligned execution. Pharmeasy’s next act will be one to watch.
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