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Flipkart forays into healthcare, to acquire majority stake in Sastasundar
Kolkata: The Walmart-controlled Flipkart on Friday announced its entry into the healthcare segment and said it has signed an agreement to acquire a majority stake in Sastasundar Marketplace Ltd, an online pharmacy.
The e-commerce firm said it entered into the sector through the launch of Flipkart Health+ and as part of this development, it has signed a definitive agreement to acquire a majority share in Sastasundar Marketplace Ltd.
The Kolkata-headquartered online pharmacy owns and operates SastaSundar.com.
It offers a digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies and is backed by investors from Japan, namely Mitsubishi Corporation and Rohto Pharmaceuticals.
Flipkart, Sr VP and Head Corporate Development, Ravi Iyer said, "We are excited to enter this space through this investment in SastaSundar.com, a company that has established itself as a trusted partner for lakhs of consumers through genuine products, a technology-powered platform and a wide network." PTI