Walmart-owned Flipkart on Friday said it will acquire a majority stake in Kolkata-based Sastasundar Marketplace that owns and operates an 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.
The consumer internet ecosystem in India is growing rapidly as consumers recognise the opportunities and convenience that digital adoption is enabling in their lives, said Ravi Iyer, SVP and Head – Corporate Development, Flipkart.
SastaSundar was founded in 2013 by BL Mittal and Ravi Kant Sharma.
