Online Pharmacy Netmed???s Parent Company???s Majority Stake Acquired by Reliance Retails
A subsidiary of Reliance Industries Limited (RIL), Reliance Retail acquired a majority stake in online pharmacy Netmed’s parent company Vitalic. Reliance spent around Rs 620 crores to gain 60% stakes in the company. As a part of the acquisition, the Reliance group would also get 100% direct equity ownership of Netmed’s subsidiaries, Tresara Health. The news of the acquisition was made public by the Reliance Group in an announcement on Tuesday. India's online pharmacy space is witnessing a wave of consolidation post Reliance's deal PhramEasy has agreed on a merger with rival Medlife.