Reliance Industries boost for online pharmacy

The acquisition of Netmeds could see Reliance Industries adopting the strategy it is pursuing in JioMart where it is bringing in local grocers under a single online platform.

Reliance had on August 18 announced the acquisition of a majority stake in Vitalic Health Pvt Ltd and its subsidiaries for Rs 620 crore in an all-cash deal. The investment represented around 60 per cent holding in the equity share capital of Vitalic and 100 per cent direct equity ownership of Vitalic’s subsidiaries that include Tresara Health Pvt Ltd, Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd.

While Vitalic and its arms are in pharma distribution, sales and business support services, its subsidiary runs the online pharmacy platform — Netmeds — which enables people to connect with pharmacists and step up delivery of medicines and health products.