Reliance Retail Ventures has bought a majority equity stake in Netmeds of worth INR 620 crore.

India:  Reliance Industries Limited or RIL, a company that owns businesses across various verticals, has announced that one of its subsidiaries Reliance Retail Ventures Limited (RRVL) has acquired a majority equity stake in Vitalic Health Pvt. Ltd. (“Vitalic”) and its subsidiaries which are collectively called Netmeds. This investment is worth INR 620 crore (USD 82.736 Million) and represents around 60 percent holding in the equity share capital of Vitalic along with 100 percent of direct equity ownership of its subsidiaries which include Tresara Health Private Ltd, Netmeds Market Place Ltd and Dadha Pharma Distribution Pvt Ltd.

The director of Reliance Retail Ventures, “This investment is aligned with our commitment to provide digital access for everyone in India.” She further added, “The addition of Netmeds enhances Reliance Retail’s ability to provide good quality and affordable healthcare products and services, and also broadens its digital commerce proposition to include most daily essential needs of consumers.”

On the occasion, the founder and CEO of Netmeds stated, “It is indeed a proud moment for ‘Netmeds’ to join Reliance family and work together to make quality healthcare affordable and accessible to every Indian. With the combined strength of the group’s digital, retail and tech platforms, we will strive to create more value for everyone in the ecosystem, while providing a superior Omni Channel experience to consumers.

According to TechSci Research, this strategy adopted by Reliance Industries Limited is expected to work towards spreading digital transformation all over India and enhancing the healthcare infrastructure of the country by providing cost effective and good quality healthcare products at customer’s doorstep. The reach of Vitalic Health Pvt. Ltd. will be broadened by this approach as its shares are being bought by a leading business firm.

According to the report published by TechSci Research, “Global Telemedicine Market By Component (Hardware, Software, Service), By Deployment Mode (On-Premise v/s Cloud), By Type (Telehospitals, Telehomes, mHealth), By Application (Telepathology, Telecardiology, Teleradiology, Teledermatology, Telepsychiatry, Others), By End Users (Hospitals, Clinics, Homecare), By Region, Forecast & Opportunities, 2025”, the global telemedicine market is expected to grow at an impressive rate during the forecast period. The global telemedicine market is driven by the increasing prevalence of diseases, especially chronic diseases such as cancer, diabetes, renal diseases, among others. This has drastically increased the global patient pool suffering from these diseases. Hence, the increasing healthcare costs, which have led to a shift towards virtual consultation, are driving the growth of market. Furthermore, increasing expenditure by the key vendors operating in the industry is anticipated to positively impact the growth of market over the next few years.

According to the report published by TechSci Research “Global E-Health Market By Product (Electronic Health Records, ePrescribing, Clinical Decision Support, Telemedicine, Consumer Health Information, mHealth, Health Management, Information System), By Services (Monitoring, Diagnostic, Healthcare Strengthening), By End-Use (Hospitals, Home Healthcare, Payers, Pharmacy), By Region, Forecast & Opportunities, 2025”, global e-health market is expected to grow at a robust CAGR during the forecast period. The global e-Health market is driven by growing incidences of lifestyle related diseases across the globe such as hypertension, diabetes, among others. Moreover, increasing initiatives by the governments in terms of providing advanced healthcare services is positively impacting the growth of market. Also, upsurge in population suffering from chronic health disorders worldwide, is further expected to bolster the growth of market over the next few years.