Flipkart forays into healthcare, to acquire majority stake in Sastasundar

The Walmart-controlled Flipkart on Friday announced its entry into the healthcare segment and said it has signed an agreement to acquire a majority stake in Sastasundar Marketplace Ltd, an online pharmacy.

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The e-commerce firm said it entered into the sector through the launch of Flipkart Health+ and as part of this development, it has signed a definitive agreement to acquire a majority share in Sastasundar Marketplace Ltd.

The Kolkata-headquartered online pharmacy owns and operates SastaSundar.Com.

It offers a digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies and is backed by investors from Japan, namely Mitsubishi Corporation and Rohto Pharmaceuticals.

Flipkart, Sr VP and Head ? Corporate Development, Ravi Iyer said, "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."