Deal Street

September 04, 2019

AZB & Partners advise Mitsubishi Corporation in acquiring Sastasundar Healthbuddy Limited

[ by Legal Era News Network ]


Japan’s Mitsubishi Corporation has signed an agreement to invest INR 1 billion (Rs. 100 crores) in SastaSundar Healthbuddy, a digital healthcare platform with a mission to provide consistent access to affordable healthcare in a convenient manner. The acquisition by Mitsubishi Corporation is of a minority equity stake in excess of 10% in Sastasundar Healthbuddy Limited.

Sastasundar Ventures is engaged in building digital network of healthcare managing efficient pharma supply chain and connecting doctors, diagnostic services, healthcare clinics and health information services. SastaSundar is supported by a network of independent pharmacies called Healthbuddies and has an integrated model of online plus offline plus logistic plus data.

Sastasundar has also innovated personal health tech solutions to provide personalised services using technology. According to SastaSundar’s Founder and Executive Chairman B L Mittal, the global experience of Mitsubishi Corporation will help them scale their business.

The partnership with Mitsubishi Corporation will help us to connect global resources with local care. It is a milestone in our journey to expand our operations in India,” said Mr. Ravi Kant Sharma, Founder & CEO of SastaSundar.

The value consideration of this deal is INR 1 billion.

AZB & Partners assisted Mitsubishi Corporation in striking this deal.

Concerned Partners were Daksh Trivedi and Anant Dang. The concerned Senior Associate was Srishti Goyal and the concerned Associate involved was Aman Jain.

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