Flipkart forays into healthcare with SastaSundar acquisition
NEW DELHI: Walmart-owned Flipkart on Friday said it will acquire majority stake in Kolkata-based Sastasundar Marketplace that owns and operates online pharmacy and digital healthcare platform, SastaSundar.com.
While the deal size was not disclosed, Flipkart said it is foraying into the healthcare sector through the launch of Flipkart Health+. “As part of this development, the group has signed definitive agreements to acquire a majority share in Sastasundar Marketplace which owns and operates SastaSundar.com, an online pharmacy and digital healthcare platform, as it focuses on providing consumers access to affordable and convenient healthcare,” a statement said.
SastaSundar.com offers a digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies. The company is backed by investors from Japan, namely Mitsubishi Corporation and Rohto Pharmaceuticals.
Flipkart Health+ will leverage the combined strengths of the Flipkart Group, which includes its pan-India reach and technology capabilities, with SastaSundar’s deep expertise to provide consumers end-to-end offerings in the health-tech ecosystem, it added.
Flipkart Health+ will endeavour to give millions of Indian consumers access to quality and affordable healthcare, starting with e-pharmacy and will add new healthcare services such as e-diagnostics and e-consultation over time, the statement said.
Flipkart Health+ will report to Ajay Veer Yadav, Senior Vice President, it added.
The consumer internet ecosystem in India is growing rapidly as consumers recognise the opportunities and convenience that digital adoption is enabling in their lives, Flipkart senior vice president and head—Corporate Development Ravi Iyer said.