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Online pharmacy company Netmeds has acquired Delhi-based hyper-local delivery app for health and medical needs Pluss for an undisclosed amount. Pluss is backed by IDG Ventures.
Netmeds CEO Pradeep Dadha said: “This acquisition makes a lot of sense for us, since it allows us to scale quicker, and shorten the delivery interval and improve efficiencies in Tier 1 Metros. This has become even more incumbent upon us as demonetisation and the move to a cashless economy combined with a robust digital mobile consumerism fuel our growth."
He further added that acquisition is the most practical and efficient way to achieve growth, capitalise on market opportunity and improve customer experience and that the company is fully prepared for the next wave of business that is being build on the digital and cashless economy.
Pluss' CEO and co-founder Atit Jain said, “We were being courted by a couple of big players but when it was time to pick a team, we decided to go with the undisputed leader. We felt Netmed’s unmatched legacy in the pharma space, and the strides made in brand building, made them the clear choice for us,” he said.
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