The Flipkart Group, India's homegrown consumer internet ecosystem, today announced its foray into the healthcare sector through the launch of Flipkart Health+. As part of this development, the Group has signed definitive agreements to acquire a majority share in Sastasundar Marketplace Limited which owns and operates SastaSundar.com, an online pharmacy and digital healthcare platform, as it focuses on providing consumers access to affordable and convenient healthcare.
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 authorized sources and delivering them across the country. By utilizing Al 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. Flipkart Health+ will report to Ajay Veer Yadav, Senior Vice President and Flipkart veteran.
This new venture builds on the Flipkart Group's efforts to address the growing consumer internet ecosystem, providing end-to-end offerings from travel to healthcare as digital technologies continue to democratize access to products and services.
Speaking on the development, Ravi lyer, Senior Vice President and Head - Corporate Development, Flipkart, said, "The consumer internet ecosystem in India is growing rapidly as consumers recognize 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. 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. The synergies between the Flipkart Group and SatsaSundar.com, combined with our commitment to prioritize our customer's needs, will help us grow and transform online healthcare in India."
Mr B.L.Mittal, Founder and Chairman, SastaSundar Healthbuddy Ltd, said, "At SastaSundar.com we are focused on developing innovative ways to provide access to affordable healthcare easily and conveniently, building a trusted network for authentic medicines, diagnostics and wellness. Through this partnership with Flipkart, we see an opportunity to further grow and reach a larger consumer base, using complementary technologies and logistics infrastructure."
Mr Ravi Kant Sharma, Founder & CEO, SastaSundar Healthbuddy Ltd, said, "This partnership with Flipkart is a strong validation of the capabilities we have built and will accelerate SastaSundar's mission to provide affordable healthcare to all Indians in a convenient manner."
Shares of Sastasundar Ventures Limited was last trading in BSE at Rs. 487.30 as compared to the previous close of Rs. 475.50. The total number of shares traded during the day was 8293 in over 480 trades.
The stock hit an intraday high of Rs. 499.00 and intraday low of 464.25. The net turnover during the day was Rs. 4014909.00.