Reliance Retail acquires majority stake in leading digital pharma market place ‘Netmeds’

Investment to enhance availability of high quality & affordable healthcare products and services across India

Reliance Industries Limited (RIL) today announced that its subsidiary Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. (“Vitalic”) and its subsidiaries (Collectively known as ‘Netmeds’) for a cash consideration of approximately INR 620 crores. This investment represents ~60% holding in the equity share capital of Vitalic and 100% direct equity ownership of its subsidiaries, viz: Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited.
Incorporated in 2015, Vitalic and its subsidiaries are in the business of pharma distribution,
sales, and business support services. Its subsidiary also runs an online pharmacy platform
– Netmeds – to connect customers to pharmacists and enable door step delivery of
medicines, nutritional health and wellness products.
Speaking on this strategic investment, Ms. Isha Ambani, Director, RRVL, said, “This
investment is aligned with our commitment to provide digital access for everyone in India.
The addition of Netmeds enhances Reliance Retail’s ability to provide good quality and
affordable health care products and services, and also broadens its digital commerce
proposition to include most daily essential needs of consumers. We are impressed by
Netmeds’ journey to build a nationwide digital franchise in such a short time and are
confident of accelerating it with our investment and partnership.”
Pradeep Dadha, Founder & CEO, Netmeds, said, “It is indeed a proud moment for
“Netmeds” to join Reliance family and work together to make quality healthcare affordable
and accessible to every Indian. With the combined strength of the group’s digital, retail and
tech platforms, we will strive to create more value for everyone in the ecosystem, while
providing a superior Omni Channel experience to consumers.”