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Mumbai: Flipkart Health Pvt. Ltd, a newly created entity within the Flipkart Group, has agreed to acquire a majority stake in online pharmacy and digital health platform SastaSundar.com, the companies said in a joint statement.
Ajay Veer Yadav, senior vice president and Flipkart veteran, will head Flipkart Health+, the rebranded SastaSundar. The deal size was not disclosed.
The new entity will start by offering e-pharmacy services and add new healthcare verticals, such as e-diagnostics and e-consultation, going forward.
In the last fundraising round in 2019, SastaSundar was valued at $125 million, a TechCrunch news article said.
SastaSundar last raised ₹100 crore from Mitsubishi Corporation in November 2019. Japan’s Rohto Pharmaceuticals invested a total of $10 million in SastaSundar in 2017 and 2019.
“The consumer internet ecosystem in India is growing rapidly as consumers recognize the opportunities and convenience that digital adoption is enabling in their lives. With growing awareness and focus on health heightened by the pandemic, there is a large opportunity and demand for affordable healthcare and ancillary offerings," Ravi Iyer, senior vice president and head - corporate development, Flipkart, said in the statement.
SastaSundar.com currently offers a digital healthcare and pharmacy platform, and has a network of 490 pharmacies.
