Reliance is a rapidly growing digital company in India. It is also acquiring stakes in a lot of other companies as well, making them all RIL products. As the latest addition, Reliance acquires majority stake in Netmeds, thus making the online Pharma company a RIL product.
Netmeds
The Pradip Dadha created Netmeds is an online Pharma company that delivers medicines from door to door. The company has a strong team of 100 employees, along with 15 pharmacists that authenticate the prescriptions uploaded by the customers.
Netmeds.com – How it Works
Off late, Netmeds was finding it difficult to go on delivering medicines during lockdown situations. It has thus, reportedly partnered with Reliance to ensure that their customers continue availing their delivery services. Reliance’s new e-commerce venture JioMart will be of much help to Netmeds in their endeavour.
Reliance acquiring a majority stake in Netmeds
Reliance India Limited has been acquiring majority stakes in quite a lot of companies. The Ambani-owned tech giant has always tried to include a variety of businesses under its domain. It had recently partnered with Facebook to enhance the development of its newest venture- JioMart. Thus, when it came to acquiring an online pharmaceutical, Ambani saw Netmeds as a particularly good option.
Netmeds had already partnered with Reliance back in April, to continue smooth delivery of medicines. Reliance has reportedly invested around 620 crores and acquired a majority of 60% stake in Netmeds.
How Reliance gains from this partnership?
Reliance will now be among the top few names in the online pharmaceutical business. It has also acquired direct ownership of Netmeds’ subsidiaries like Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt Limited. Reliance has also successfully established itself in yet another sector of market distribution.
By acquiring a 60% stake in Netmeds, Reliance has pitted itself in direct competition with Amazon Pharmacy. The Amazon Pharmacy is a new venture, but growing rapidly due to its name.
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