{"id":15965,"date":"2020-08-18T23:23:53","date_gmt":"2020-08-18T23:23:53","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=15965"},"modified":"2020-08-18T23:23:53","modified_gmt":"2020-08-18T23:23:53","slug":"reliance-retail-acquires-majority-stake-in-digital-pharma-market-place-netmeds","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=15965","title":{"rendered":"Reliance Retail acquires majority stake in digital pharma market place Netmeds"},"content":{"rendered":"

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\nThe addition of Netmeds enhances Reliance Retail\u2019s ability to provide good quality and affordable health care products and services, says Isha Ambani
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Reliance Industries Ltd (RIL) has announced that its subsidiary Reliance Retail Ventures Ltd (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd.and its subsidiaries collectively known as \u2018Netmeds\u2019 for a cash consideration of approximately \u20b9620 crore.<\/p>\n

\u201cThis investment represents 60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health Private Ltd , Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd,\u201d RIL said in a filing with stock exchanges.<\/p>\n

Incorporated in 2015, Vitalic and its subsidiaries are in the business of pharma distribution, sales, and business support services. Its subsidiary also runs an online pharmacy platform Netmeds to connect customers to pharmacists and enable door step delivery of medicines, nutritional health and wellness products.<\/p>\n

Isha Ambani, director, RRVL, said, \u201cThis investment is aligned with our commitment to provide digital access for everyone in India. The addition of Netmeds enhances Reliance Retail\u2019s ability to provide good quality and affordable health care products and services, and also broadens its digital commerce proposition to include most daily essential needs of consumers. \u201c<\/p>\n

\u201cWe are impressed by Netmeds\u2019 journey to build a nationwide digital franchise in such a short time and are confident of accelerating it with our investment and partnership.\u201d<\/p>\n

Pradeep Dadha, Founder & CEO, Netmeds, said, \u201cIt is indeed a proud moment for \u201cNetmeds\u201d to join Reliance family and work together to make quality healthcare affordable and accessible to every Indian.\u201d<\/p>\n

\u201cWith the combined strength of the group\u2019s 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,\u201d he said.<\/p>\n<\/div>\n

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The addition of Netmeds enhances Reliance Retail\u2019s ability to provide good quality and affordable health care products and services, says Isha Ambani Reliance Industries Ltd (RIL) has announced that its subsidiary Reliance Retail Ventures Ltd (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd.and its subsidiaries collectively […]<\/p>\n","protected":false},"author":1,"featured_media":383,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-15965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/06\/og-image.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15965"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/15965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/383"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}