Why Reliance Retail acquired NetMeds Online Pharmacy ?

Reliance Retail has announced the acquisition of a 60% stake in Netmeds (Indian digital pharma market place) for US$83mn. Netmeds is present in 670 cities and towns and offers more than 70,000+ prescription and lifestyle drugs and thousands of non-prescription goods for wellness, health and personal care. Netmed promoters have a long history in pharma retailing and manufacturing. Netmeds had ~US$1mn in revenues ~(US$8mn loss) in F18. Its app also offers doctor consultation services as well.

Online medicine market currently is (more…)

Apollo Hospitals to acquire pharmacy stores of Hetero Med Solution

apollo pharmacy chainApollo Hospitals Enterprise has entered into a Memorandum of Understanding (MoU) with Hetero Med Solutions (HMSL) for acquisition of its retail pharmacy stores currently operated in states of Telengana, Andhra Pradesh and Tamil Nadu.

The acquisition would be in the form of purchase of the business undertaking, on a slump sale basis and comprises of 320 pharmacy stores, at an overall consideration not exceeding Rs 146 crore. The transaction would be subject to completion of due diligence and (more…)