Amazon in Talks to Invest in India’s MedPlus: FactorDaily

Amazon.com Inc is in early talks to invest in Indian pharmacy chain MedPlus, Indian news website FactorDaily reported, citing sources. MedPlus Health Services runs over 1500 pharmacies in India, according to the company’s website. The pharmacy chain also operates online store MedPlusMart, lab testing centers MedPlus Pathlabs and surgical equipment distribution business RiteCure. “We do not comment on what we may do or may not do in the future,” an Amazon spokesperson told Reuters. MedPlus was not immediately available for comment. Amazon ventured into the pharmacy space last month, buying the US-based small online drugstore Pillpack, putting the online retailer in direct competition with pharma chains and drug distributors. India has been an important growth market for the US ecommerce giant, which expects groceries and household products to account for over half of its business in India in the next 5 years. – Money Control