In a Twitter message on Tuesday, the Founder and CEO of NetMeds, Pradeep Dadha, stated that the deal will allow the corporate to proceed its promise of being ‘India ki Pharmacy’ (India’s pharmacy) with the backing of India’s largest conglomerate.
According to Dadha: “Using cutting-edge digital technology, it is our goal to make quality healthcare affordable to every Indian. With the combined strength of the digital, retail and tech platforms, we will soon strengthen the supply chain, link producers, consumer and healthcare stakeholders into a holistic network”.
— NetMeds (@NetMeds) August 19, 2020
In a separate assertion, Isha Ambani, the RRRV director and the daughter of RIL Chairman, Mukesh Ambani, stated that the acquisition will assist the corporate present reasonably priced healthcare services and products to folks across the nation.
Meanwhile, in what guarantees to be one other huge transfer within the on-line pharma trade, PharmEasy has reportedly agreed to merge with smaller rival, Medlife. According to filings with the Competition Commission of India (CCI), Medlife will promote 100% shares to API Holdings, the mum or dad entity of PharmEasy, in return for 19.59% possession within the mixed entity.
The transfer alerts the beginning of consolidation in a sector that’s anticipating heightened competitors with the entry of deep-pocketed gamers like Reliance and Amazon. The information of the PharmEasy-MedLife merger was first reported by ET earlier in the present day.