Flipkart Acquires SastaSundar – style & Tech and advertising and marketing
Indian e-trade behemoth Flipkart has bought online pharmaceutical startup SastaSundar as part of its ongoing effort to diversify beyond its core e-commerce operation. The agreement is a crucial milestone in Flipkart’s strategy to enter the Indian healthcare market. With a network of more than 490 offline pharmacies and information analytics to offer private counselling services, SastaSundar provides clients with healthcare at a lesser cost. Flipkart aims to use SastaSundar’s period to introduce a new healthcare sector called Flipkart health+, which will include an e-pharmacy and e-diagnostics services.
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SastaSundar BL Mittal and Ravi Kant Sharma
SastaSundar, founded in 2013 by BL Mittal and Ravi Kant Sharma, provides consumers with accessible and affordable healthcare. The demand for preventative medications in tier-2 and tier-three municipalities has increased by 50%, according to the business. It acquires its goods from reliable sources and can deliver them to customers all throughout India.
The decision by Flipkart to get into the healthcare industry comes amid increased concentration and risky investment. It is attempting to acquire a controlling interest in the SastaSundar online pharmacy business. It is anticipated that the deal will be finalized within the next weeks. The process will verify SastaSundar’s enterprise version, which aims to provide affordable and practical healthcare. Additionally, the alliance will help it expand its customer base.
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\ The action comes a year after Flipkart purchased the Indian food delivery firm Swiggy, which was severely harmed by the government’s decision to forbid online food sales. The company intends to develop Flipkart fitness+, a fitness-related vertical, which is scheduled to be live in the upcoming weeks. The service will start with an online pharmacy and eventually expand to include e-diagnostics and e-sessions. It is envisaged that the health vertical would make use of Flipkart’s pan-India network and expertise to deliver end-to-end services.
Additionally, Flipkart has inked binding contracts to acquire a controlling interest in the young online health insurance company Payu. The collaboration might potentially help SastaSundar grow its network of physical service locations, known as Health buddies, which would enable it to provide a far larger range of services. API Holdings, the controlling company of the top healthcare startup Pharm Easy, submitted preliminary documents to the Sebi earlier this month in preparation for the release of an IPO valued at around $843 million. The Securities and Change Board of India has been petitioned by the South Chemists and Vendors Association to reject the offer.
Flipkart’s partnership with SastaSundar
The cooperation between Flipkart and SastaSundar would enable them to expand its online drug sales business across India. SastaSundar procures goods from legitimate suppliers and distributes them to customers all throughout India. The agreement may even assist it in stepping up its effort to provide accessible, affordable healthcare in the United States. The firm will be able to expand its customer base and verify its enterprise version thanks to its agreement with Flipkart. In an effort to capitalize on SastaSundar’s expertise in healthtech, the new business unit will be led by Flipkart’s Senior Vice President.
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Deal may even help SastaSundar expand into healthcare, a sector of the Indian industry that is expanding. By 2022, it’s expected that the US healthcare market will be valued more than $37 billion. It is projected that SastaSundar would grow its network of physical counselling clinics and its e-healthcare services in the future.