Reliance Retail buys 60% of NetMeds parent for ₹620 crore, enters e-pharmacy
Reliance Retail acquired a 60% stake in Vitalic Health, NetMeds' parent, for ₹620 crore, marking its entry into online pharmacy to challenge Amazon and the PharmEasy-MedLife combine. It plans full 100% ownership by 2024, despite NetMeds' FY20 net loss of ₹164.15 crore and ongoing regulatory uncertainty.
Reliance Retail bought 60% of NetMeds parent Vitalic Health for ₹620 crore, entering e-pharmacy to rival Amazon. It plans to reach 100% ownership by 2024, amid regulatory uncertainty and rival PharmEasy-MedLife merger.