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, an online pharmacy.
The Walmart-controlled 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.
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, Senior 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."
Flipkart said its aim is to give the people of India affordable and quality healthcare. Flipkart Health+, the company said, will start with e-pharmacy and add new healthcare services including e-diagnostics and e-consultation in the future.
“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,” the company said in a prepared statement.