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Flipkart to acquire majority stake in online pharmacy

  • By
  • November 15, 2021

The Flipkart Group has signed a deal to acquire a majority stake in online pharmacy Sastasundar Marketplace to launch its own healthcare business amid a pandemic-triggered consolidation in India’s health tech industry. 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.

FlipkartFlipkart Health+, as the new entity will be known, will leverage the Walmart Inc.-controlled company’s pan-India network and SastaSundar’s health tech expertise to provide consumers access to quality and affordable healthcare—first through an e-pharmacy and later via e-diagnostics and e-consultation, according to a statement issued on Friday.

Flipkart’s Senior Vice President Ajay Veer Yadav will take the helm of the new business unit.

In a regulatory filing on the BSE, Sastasundar Ventures Ltd said Sastasundar Healthbuddy Ltd (SHBL) has entered into a share subscription and purchase agreement and a shareholders’ agreement on Friday with Flipkart Health Pvt Ltd, pursuant to SHBL’s divestment of its equity holding in Sastasundar Marketplace, a wholly-owned subsidiary of SHBL.

The Flipkart-SastaSundar deal comes when API Holdings, the parent entity of India’s largest e-pharmacy PharmEasy, has filed draft papers with the Securities and Exchange Board of India (Sebi) for a Rs 6,250-crore initial public offering (IPO). The company had in June acquired Thyrocare Technologies to expand its health tech offerings to include diagnostics. Separately, Tata Group has acquired 1mg, and Reliance Industries has bought over Netmeds to mark their forays in a sector that’s seen a pandemic-induced boom over the past 18 months. Flipkart’s rival Amazon India offers a medicine delivery service in Bengaluru, for now.

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