Acquisition
Reliance Retail buys 60% of Netmeds
By Startup Enthusiast ·
- Date
- Company
- Netmeds
- What it does
- Reliance Retail, Netmeds
- Kind
- Acquisition
- Amount
- Rs 620 crore
- Stage
- Majority stake
- Based in
- Chennai
What they do
Reliance Retail put in Rs 620 crore to take a 60% holding in Vitalic Health, the parent company of Netmeds
What happened
The deal also brings full ownership of Netmeds' subsidiaries, including Tresara Health, Netmeds Market Place and Dadha Pharma Distribution
Why it matters
It gives Reliance an entry into online medicine delivery, a segment where it had no presence before this investment
The details
- Reliance Retail invested Rs 620 crore in Vitalic Health.
- The stake is about 60% of Vitalic Health's equity.
- Vitalic owns Tresara Health, Netmeds Market Place and Dadha Pharma Distribution outright.
- Netmeds sells prescription and over-the-counter medicines online.
The deal
- Buyer
- Reliance Retail