India's Reliance Retail acquires a majority stake in online pharmacy Nedmeds for $83.2M
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Summary
Reliance Retail has bought a 60% stake in pharma marketplace Netmeds’ parent firm Vitalic for about $83.2 million, it said today, as India’s largest retail chain looks to expand into new categories and compete more closely with American e-commerce group Amazon.Reliance Retail said the deal, which grants it a 100% ownership of Vitalic’s subsidiaries (Netmeds, Tresara, and Dadha Pharma), valued the parent firm at about $134 million.
As said here by Manish Singh