Reliance Retail, a subsidiary of Reliance Industries, the country's largest company, has set up Chennai-based Vitalic Health Pvt. Ltd. And has bought a majority stake in its subsidiary NetMeds. The company has bought a 60 per cent stake in NetMeds for about Rs 620 crore.
Isha Ambani, director of the company, said the stake was bought to provide digital facilities to all. Online pharmacy company NetMeds connects large pharmacists and also delivers drugs door-to-door to customers. In this way, Reliance Industries has become an instant deal maker in a lockdown.
Vitalic Health and its subsidiaries are collectively known as Netmades. Reliance Retail has bought a majority stake in Netmeds. The company is owned by Vitalic Health Pvt. Ltd. has acquired a 100 per cent equity ownership of its subsidiary Trisara, NetMeds and Dadha Pharma with a 60 per cent holding in the equity share capital.
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With this investment, we will be able to deliver medicine to everyone in the country digitally. Netmades joining us has enhanced Reliance Retail's ability to provide good quality and affordable healthcare products and services and help customers deliver daily necessities, ”said Isha Ambani, Director, Reliance Retail Ventures Ltd.
"With the combined strength of Reliance's digital, retail and tech platforms, we will be able to strengthen our supply chain among more customers," said Pradeep Dadha, Founder and CEO, NetMeds Marketplace. "After this agreement, we will be able to provide our service better," he said.
In 2015, Vitalic and its subsidiaries were in the business of pharma distribution, sales and business support services. Anne's subsidiary company NetMeds provides an online pharmacy platform to connect customers with pharmacists and deliver medicines, nutritional health and wellness products.
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For NetMeds, it is a pleasure to join the Reliance family and work together to make quality healthcare affordable and accessible for every Indian, ”said CEO Pradeep Dadha.
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