Walmart-owned Flipkart on Friday declared that it signed an agreement to acquire a majority stake in Kolkata-based Sastasundar Marketplace Limited, which controls and operates SastaSundar.com, an online pharmacy and digital healthcare platform.
With the deal, Flipkart Group started its foray into the healthcare division 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 Limited which owns and operates SastaSundar.com, an online pharmacy and digital healthcare platform, as it concentrates on providing consumers access to affordable and convenient healthcare” a BSE filing from Sastasundar said.
SastaSundar.com allows users to surf a digital healthcare and pharmacy platform carried by a chain of more than 490 pharmacies. SastaSundar, established in 2013 by BL Mittal and Ravi Kant Sharma, is financed by Japanese investors such as Mitsubishi Corporation and Rohto Pharmaceuticals.
Flipkart Health+ will leverage its combined strengths, including its pan-India reach and technology capabilities, with SastaSundar’s deep expertise to provide consumers end-to-end offerings in the health-tech ecosystem.
Flipkart Health+ will respond to Ajay Veer Yadav, Senior Vice President and Flipkart veteran. This latest venture formed on the Flipkart Group’s efforts to address the growing consumer internet ecosystem, presenting end-to-end offerings from travel to healthcare as digital technologies continue to democratize entrance to goods and services.
“The consumer internet ecosystem in India is multiplying as consumers recognize 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 big opportunity and demand for affordable healthcare and ancillary offerings. 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. The synergies between the Flipkart Group and SatsaSundar.com, combined with our commitment to prioritize our customer’s needs, will help us grow and transform online healthcare in India,” said Ravi lyer, Senior vice president Head – Corporate Development, Flipkart.
