RIL picks majority stake in Netmeds: How it became ‘India ki pharmacy’

Reliance Industries Ltd has acquired a majority stake in Chennai-based online pharmacy delivery startup Netmeds (Vitalic Health Pvt. Ltd) for a cash consideration of approximately Rs 620 crore. Promoted by Dadha Pharma, Netmeds is one of the earliest players in online pharmacy having incorporated in 2015.

“It is indeed a proud moment for Netmeds to join Reliance family and work together to make quality healthcare affordable and accessible to every Indian. With the combined strength of the group’s digital, retail and tech platforms, we will strive to create more value for everyone in the ecosystem, while providing a superior Omni Channel experience to consumers,” said Pradeep Dadha, Founder & CEO, Netmeds.