Reliance acquires e-pharmacy company NetMeds
Reliance has bought a total 60 percent stake in Vitalik
Has bought 100% stake in its subsidiary NetMeds Market Place Limited
Reliance is confident that after Reliance’s investment and partnership, its growth will accelerate further.
Reliance Industries has announced that its subsidiary Reliance Retail Ventures Limited (RRVL) has acquired Vitalic Health Pvt. Ltd. and its subsidiaries, collectively known as Netmeds. ), Known as Reliance Retail acquires Netmeds. Reliance has done this deal for 620 crores rupees.
Reliance has bought a total 60 per cent stake in Vitalik. It has acquired 100 per cent stake in its subsidiaries Trisara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited.
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Isha Ambani, director of Reliance Retail, said that this investment reinforces our resolve that we will provide digital access to everyone in India. With the acquisition of NetMeds, Reliance Retail will now be able to provide quality and affordable health care products and services to the people. He said that he was very impressed with the business of NetMedes, which started its services across the country in such a short time and is confident that after Reliance’s investment and partnership, its growth will accelerate further.
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Vitalik and its subsidiaries are in the business of pharma distribution, sales and business support services and have been operating since 2015. Its subsidiaries run an online pharmacy platform ‘NetMeds’. They connect customers to pharmacists and provide doorstep delivery of medicines. Along with medicines, it also provides nutrition and wellness products.