Flipkart buys majority stake in Sastasundar Marketplace
The Walmart-owned Flipkart has acquired a majority stake in Sastasundar Marketplace Ltd marking its entry into the healthcare segment.
With this acquisition, Flipkart has strengthened its presence in the online healthcare segment and launched Flipkart Health to make deeper inroads in the segment.
Commenting on the acquisition, Ravi Iyer, senior vice president and head corporate development at Flipkart, in a statement said: “The consumer internet ecosystem in India is growing rapidly as consumers recognise the opportunities and convenience that digital adoption is enabling in their lives. With growing awareness and focus on health heightened by the pandemic, there is a large opportunity and demand for affordable healthcare and ancillary offerings.”
B L Mittal, founder and chairman of Sastasundar, added: “Through this partnership with Flipkart, we see an opportunity to further grow and reach a larger consumer base, using complementary technologies and logistics infrastructure.”
The Kolkata-headquartered online pharmacy owns and operates SastaSundar.com. It has a network of more than 490 pharmacies across India.
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