PharmEasy, an Indian digital healthcare platform, is set to consider its initial public offering (IPO) strategy at its board meeting in February.

The discussion may include a possible reverse merger with its subsidiary, Thyrocare, according to sources.

The company recently achieved operational cash flow breakeven and reduced its losses to 2,533 crore rupees (around US$302.4 million) in FY24, down from 5,664 crore rupees (around US$676.1 million) in FY23 revenue.

Cost-cutting measures, including lower employee expenses, contributed to the improvement.

PharmEasy underwent a recapitalization in 2023, cutting its valuation by 90% from US$5.6 billion in 2021 and raising 3,500 crore rupees (around US$417.8 million) for debt servicing.