Thyrocare CEO Rahul Guha to Lead PharmEasy as Siddharth Shah Steps Down
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Siddharth Shah, Co-founder and current MD and CEO of API Holdings, is stepping down from his executive role later this month. Effective August 27, 2025, Shah will assume the position of Vice Chairman and Director at the parent company of PharmEasy and Thyrocare.
Rahul Guha, presently the MD and CEO of Thyrocare, has been appointed as the new MD and CEO of API Holdings. The leadership change was disclosed in regulatory filings by Thyrocare on Wednesday. Guha will continue to oversee Thyrocare while taking on his new responsibilities at API Holdings.
Guha brings significant experience to the role. Prior to his elevation, he served as President of Operations at API Holdings, where he led group-level integration and coordination efforts.
PharmEasy had acquired a controlling 66.1 percent stake in Thyrocare in June 2021 for INR 4,546 crore. The leadership consolidation is seen as a strategic step by API Holdings to streamline operations amid ongoing financial challenges and long-term preparations for a potential public listing.
API Holdings had earlier filed draft documents for an initial public offering in 2021 but withdrew due to unfavorable market conditions. The company has raised approximately USD 1.1 billion from investors such as MEMG, Prosus, and Temasek. In April 2024, it secured USD 216 million in funding at a significantly reduced valuation of USD 710 million.
The transition follows the departure of PharmEasy's three cofounders earlier this year. The trio has since launched a new startup, All Home, which recently raised funding from Bessemer Venture Partners, valuing it at over USD 120 million. Shah has also invested in the venture.
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