E-commerce major Flipkart said Friday it is entering the healthcare sector with the launch of Flipkart Health+ and has agreed to acquire a majority stake in Sastasundar Marketplace Ltd, which owns and operates SastaSundar.com.
The Walmart-owned company didn’t disclose terms of the transaction but said it expects the deal to be completed by next month.
SastaSundar.com offers a digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies.
Flipkart Health+ will start with e-pharmacy and will add new healthcare services such as e-diagnostics and e-consultation over time.
Flipkart Health+ team will report to Ajay Veer Yadav, senior vice president and a Flipkart veteran.
Ravi lyer, senior vice president and head of corporate development at Flipkart, said, “With growing awareness and focus on health heightened by the pandemic, there is a large 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.”
B L Mittal, founder and chairman, SastaSundar Healthbuddy Ltd, said, “Through this partnership with Flipkart, we see an opportunity to further grow and reach a larger consumer base, using complementary technologies and logistics infrastructure.”
SastaSundar was founded in 2013 by Mittal and Ravi Kant Sharma. It is backed by Mitsubishi Corporation and Rohto Pharmaceuticals.
It had revenues of Rs 2.58 crore with net loss of Rs 15.4 crore in the year ended March 2021.