Flipkart forays into healthcare; to acquire majority stake in Sastasundar
Indian e-commerce firm Flipkart has forayed into the healthcare sector with the launch of Flipkart Health+, while signing agreements to acquire a majority stake in Sastasundar Marketplace, the owner of SastaSundar.com, an online pharmacy and digital healthcare platform.
The financial terms of the stake acquisition were not revealed.
SastaSundar.com has a healthcare and pharmacy platform that is backed by a network of over 490 pharmacy stores. It is designed to address problems of access to affordable and high-quality healthcare in India by offering authentic products from licensed sources and providing them across the entire country.
Utilizing the power of artificial intelligence (AI) as well as data analysis technology, and integrating them with personal counseling via its network, SastaSundar.com is said to give consumers complete solutions for a broad range of health-related requirements.
The newly launched Flipkart Health+ will leverage the strengths of Flipkart, including its pan-India presence and technology capabilities, along with SastaSundar’s extensive knowledge to provide end-to-end offerings to consumers in the health-tech ecosystem.
B.L.Mittal — Founder and Chairman of SastaSundar Healthbuddy said: “At SastaSundar.com we are focused on developing innovative ways to provide access to affordable healthcare easily and conveniently, building a trusted network for authentic medicines, diagnostics and wellness.
“Through this partnership with Flipkart, we see an opportunity to further grow and reach a larger consumer base, using complementary technologies and logistics infrastructure.”
Flipkart Health+ will aim to give millions of Indian consumers access to affordable and quality healthcare. It will begin with e-pharmacy, and will expand to include new services in healthcare such as e-diagnosis and e-consultation in the future. Flipkart Health+ will report to Ajay Veer Yadav, who is the Senior Vice President of Flipkart.
The new venture is said to build upon Flipkart’s efforts in addressing the expanding digital consumer ecosystem. It will offer all-inclusive services from travel to healthcare as technology advances to improve access to services and products.
Ravi Iyer — Flipkart Senior Vice President and Head – Corporate Development said: “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.
“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. The synergies between the Flipkart Group and SatsaSundar.com, combined with our commitment to prioritize our customer’s needs, will help us grow and transform online healthcare in India.”