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SastaSundar Ventures, which operates health-focussed digital platforms, has said that its partnership with ecommerce giant Flipkart is over now. SastaSundar Healthbuddy, which is a subsidiary of SastaSundar Ventures, reclaimed the brand’s intellectual property rights (IPR), along with non-compete rights, from Flipkart Health+.
In 2021, Flipkart had acquired a 75% stake in Sastasundar Marketplace Ltd (SML), a company under Sastasundar Ventures, for around ₹750 crore. However, with the end of the partnership, Sastasundar has reclaimed its brand's IPRs from Flipkart Health+
B.L. Mittal, Chairman of Sastasundar Group, confirmed the conclusion of the deal with Flipkart, stating, "We have regained all intellectual property rights of the Sastasundar brand and are now preparing to launch our app." He emphasized that the reclaim transaction required no significant investment.
Sastasundar Ventures, the holding company, re-acquired the IPRs and non-compete rights through its newly formed subsidiary, Sastasundar Healthtech Ltd. Mittal revealed plans to merge this new entity with the parent company.
Regarding Flipkart’s exit from healthcare, Mittal suggested it aligns with the company's global strategy. While Flipkart Health+ remains part of Flipkart, its future course will be determined by the company.
Sastasundar Ventures, the holding company, re-acquired the IPRs and non-compete rights through its newly formed subsidiary, Sastasundar Healthtech Ltd. Mittal revealed plans to merge this new entity with the parent company.
Regarding Flipkart’s exit from healthcare, Mittal suggested it aligns with the company's global strategy. While Flipkart Health+ remains part of Flipkart, its future course will be determined by the company.
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