Rohto Pharma invests Rs 32 crore in SastaSundar Healthbuddy
New Delhi: Japanese firm Rohto Pharmaceutical Co has invested USD 5 million (over Rs 32 crore) to acquire 13 per cent stake in SastaSundar Healthbuddy Ltd.
The Indian firm is looking at launching operations in the national capital with plans to expand in 12 states across the country.
"Rohto is looking for expansion of its base in India with SastaSundar as its preferred partner. We have invested USD 5 million in the company," Rohto Executive VP and Global Head of International Business Lekh Raj Juneja told reporters.
He was speaking at the inking of alliance with SastaSundar Healthbuddy Ltd which owns and operates digital helathcare network SastaSundar.com.
Rohto is open to further investments in the Indian firm, Juneja added, without specifying any amount.
By utilising the network of SastaSundar, Rohto will be expanding its presence in India, which is a key emerging market for the company, Juneja said.
"As we are on a growth path and looking for a pan-India expansion, starting from Delhi, our association with Rohto will help us in achieving our immediate goal," SastaSundar Healthbuddy Ltd Founder and Executive Chairman B L Mittal said.
The aim of the company is to reduce cost and add convenience in making high quality medicines, healthcare products and services available to people, he added.
Established in 1899 in Japan, Rohto makes and markets pharmaceutical products, cosmetics and functional foods.