Reliance Retail buys 60% of NetMeds parent Vitalic Health for ₹620 crore
Reliance Retail acquired a majority stake in Vitalic Health, parent of online pharmacy NetMeds, for ₹620 crore, marking its entry into e-pharmacy against Amazon, PharmEasy and Medlife. It plans to raise ownership to 100% by 2024.
Reliance Retail acquired a 60% stake in Vitalic Health, parent of online pharmacy NetMeds, for ₹620 crore, entering e-pharmacy to rival Amazon, with plans to raise ownership to 100% by 2024.
Why this matters
The NetMeds buy extends Reliance Retail's aggressive expansion beyond FMCG and beverages, adding e-pharmacy to a portfolio that includes its WhatsApp-JioMart push and a ₹1,622 crore beverage plant in Andhra.
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