Flipkart to acquire majority share in Sastasundar
Domestic e-commerce platform Flipkart on Friday announced its foray into the healthcare sector through the launch of Flipkart Health+, to provide consumers access to affordable and convenient healthcare.
As part of this development, the Flipkart Group has signed definitive agreements to acquire a majority share in Sastasundar Marketplace, which owns and operates SastaSundar.com, an online pharmacy and digital healthcare platform, the company said in a statement.
The new venture builds on Flipkart's efforts to address the growing consumer Internet ecosystem, providing end-to-end offerings from travel to healthcare as digital technologies continue to democratise access to products and services.
"The consumer internet ecosystem in India is growing rapidly as consumers recognise the opportunities and convenience that digital adoption is enabling in their lives. With growing awareness and focus on health heightened by the pandemic, there is a large opportunity and demand for affordable healthcare and ancillary offerings," said Ravi Iyer, Senior Vice President and Head -- Corporate Development, Flipkart, in the statement.
"We are excited to enter this space through this investment in SastaSundar.com, a company that has established itself as a trusted partner for lakhs of consumers through genuine products, a technology-powered platform and a wide network," Iyer said.
"The synergies between the Flipkart Group and SatsaSundar.com, combined with our commitment to prioritise our customer's needs, will help us grow and transform online healthcare in India," Iyer added.
SastaSundar.com offers a digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies. It aims to address the issues of access to affordable and quality healthcare in India by providing original products from authorised sources and delivering them across the country.
By utilising Artificial Intelligence and data analytics technologies and integrating them with personal counselling through its network, SastaSundar.com provides consumers comprehensive solutions for a wide range of healthcare needs.
Flipkart Health+ will leverage the combined strengths of the Flipkart Group, which includes its pan-India reach and technology capabilities, with SastaSundar's deep expertise to provide consumers end-to-end offerings in the health-tech ecosystem. It will endeavour to give millions of Indian consumers access to quality and affordable healthcare, starting with e-pharmacy and will add new healthcare services such as e-diagnostics and e-consultation over time, the company said.
Flipkart Health+ will report to Ajay Veer Yadav, Senior Vice President, it added.
