Reliance Industries Limited announced to have bought majority equity shares of Netmeds, ePharmacy, in a statement issued on Tuesday night.
This expenditure constitutes about 60 percent holding in the equity shares of Vitalic and 100 percent direct ownership in its subsidiaries. Tresara Health Private Ltd, Netmeds MarketPlace Limited, and Dadha Pharma Distribution Pvt Limited are the subsidiaries of Vitalic, broadly known as Netmeds.
“This investment is aligned with our commitment to provide digital access for everyone in India. The addition of Netmeds enhances Reliance Retail’s ability to provide good quality and affordable healthcare products and services. Also, it broadens its digital commerce proposition to include most daily essential needs of consumers.” Said Isha Ambani, Reliance Retail.
Integrated in 2015, Vitalic and its subsidiaries are in the business of pharma distribution, sales, and business support services.
Vitalic Health Private Limited is a health and wellness supplement company and the owner of both Vitalic Nutrition and the TRuuth Brand of vitamins, supplements and fitness products. VHPL is promoted by the Dadha family, recognized for more than 100 years as a trusted source for prescription medication and Over-The-Counter health products.
Netmeds Founder and CEO Pradeep Dadha added, “It is indeed a proud moment for Netmeds to join the Reliance family and work together to make quality healthcare affordable and accessible to everyIndian. With the combined strength of the group’s digital, retail, and tech platforms, we will strive to create more value for everyone in the ecosystem while providing a superior Omni Channel experience to Consumers.”
Recently, Ecomm. giant, Amazon also rolled out e-pharmacy services in India.