New Delhi. Reliance Retail, a subsidiary of RIL-Reliance Industries Limited, the country’s largest company, has bought a large stake in Chennai-based Vitalic Health Private Limited and its subsidiary online pharmacy company Netmeds. The company has bought this stake for about Rs 620 crore. Let us tell you that Netmeds connects customers with pharmacists through online medium. In addition, it also provides doorstep delivery of medicines to customers.
Reliance Retail buys a large stake in Netmeds – Reliance Retail has bought a 60 per cent holding in the equity share capital of Vitalic Health Private Limited as well as 100 per cent direct equity honorships of its subsidiaries Tresara, Netmeds and Dadha Pharma.
Pradeep Dadha – Founder & CEO – Netmeds Marketplace, founder and CEO of NetMeds, says that with the combined strength of Reliance’s digital, retail and tech platforms, we are looking to strengthen our channel among even more consumers Will be able to He said that after this agreement we will improve our service further.
Netmeds is an e-pharma portal selling prescription-based and over-the-counter medicines and other health products. Its services are available in around 20,000 locations of the country. Its promoter is Chennai based company Dadha Pharma.