Reliance Retail Ventures Limited (RRVL), wholly-owned subsidiary of Reliance Industries Limited has acquired majority equity stake in Chennai-based Vitalic Health Pvt. Ltd. as well as in its subsidiaries. Total transaction costed approximately Rs 620 crores. Vitalic Health Pvt. Ltd. is engaged in the business of pharma distribution, sales, and business support services, while its subsidiary runs an online pharmacy platform “Netmeds” which connects customers to pharmacists and offers door step delivery of medicines, nutritional health as well as wellness products.
The investment made by Reliance Retail Ventures Limited represents 60% holding in the equity share capital of Vitalic Health while 100% direct equity ownership of its subsidiaries namely Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited. The investment will improve RRVL’s ability to provide affordable health care products and services.
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