Private Equity Fund Investments
Flipkart to acquire majority stake in online pharmacy SastaSundar
Bengaluru-based, Walmart-backed Flipkart is to acquire a majority share in Kolkata-based, publicly listed Sastasundar Marketplace Ltd, which owns and operates SastaSundar.com, an online pharmacy and digital healthcare platform. The deal marks Flipkart's foray into the healthcare sector through the launch of Flipkart Health+. Flipkart Health+ will leverage the combined strengths of Flipkart's pan-India reach and technology capabilities, and SastaSundar's expertise to provide consumers end-to-end offerings in the healthtech ecosystem. Flipkart Health+ team will report to Ajay Veer Yadav, Senior Vice President, Flipkart. SastaSundar, founded in 2013 by BL Mittal and Ravi Kant Sharma, is backed by Japanese investors Mitsubishi Corporation and Rohto Pharmaceuticals.
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