- Flipkart entered into the health sector through the launch of Flipkart Health+
- It aims to address the issues of access to affordable and quality healthcare in India.
- SastaSundar.com offers a digital healthcare platform supported by a network of more than 490 pharmacies.
E-commerce giant Flipkart Group has entered 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. The value of the transaction is not reveal by the firms.
The decision by Flipkart to enter the healthcare sector comes at a time when there is intense competition in the market as demand for such services increased during the COVID-19 pandemic. It will give direct competition to some of the already established players like Reliance-owned NetMeds, 1mg, PharmEasy, among others.
Flipkart Will Deliver Medicines, Connect You to Doctors
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 endeavor 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, the company said.
The Indian e-health sector expects to become a $16 billion opportunity by FY 2025, growing from $1.2 billion, at a compound annual growth rate of 68 percent, according to a report by research firm RedSeer Consulting. It is expected to touch 57 million households, driven by positive reception from both consumers and providers along with supportive government regulations and investments.
Flipkart plans to add new healthcare services gradually over time. These will include things like e-diagnostics and e-consultation. The new venture can be seen as Flipkart’s move to have an upper hand in the extremely competitive E-Commerce space in the country. Amazon has already had the Amazon Pharmacy running in Bengaluru since last year. Tata Digital also bought online pharmacy 1mg earlier this year in a similar deal.
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