Rohto Pharma invests $5 million in SastaSundar Healthbuddy
We are pleased to announce that Rohto Pharmaceutical Co Ltd. (“Rohto”), a Japanese drugmaker, has made a strategic investment for 13% equity in Sastasundar Healthbuddy Ltd. (“SHBL”). The initial investment amount of the transaction was US$ 5 million with a further option to invest another USD 5 million at a later stage. The deal has also been negotiated enabling Rohto to have further options of subsequent investments/acquisition to reach a substantial shareholding in SHBL.
Rhoto is a century old entity, listed at the Tokyo stock exchange, which manufactures a variety of over-the-counter health and skin care products. Rohto also has presence in India since the year 2010. Further, SHBL is a subsidiary of Sastasundar Ventures Limited (a company listed on the NSE and BSE), which inter alia operates an e-pharmacy under an app based platform and website i.e., Sastasundar.com. It further offers related healthcare services such as diagnostics and telemedicine through its partner outlets known as a “Healthbuddy”.
Vaish Associates Advocates, acted as the legal counsel to Rohto in this transaction and drafted the key transactional documents including the share subscription agreement and the shareholders’ agreement on behalf of Rohto. The firm further engaged in negotiations concerning the transactional documents with SHBL’s counsels. The transaction closed on May 30, 2017.
Mr. Hitender Mehta, Partner and Mr. Abhijeet Das, Senior Associate were involved in the transaction on Rohto’s behalf. SHBL was represented by Cyril Amarchand Mangaldas.
Check out the media coverage:
Economic Times: Japanese pharma company Rohto invests $5 million in digital healthcare network Sasta Sundar Healthbuddy
Times of India: Japan's Rohto Invests Rs 32 cr in SastaSundar
Business Standard: Rohto Pharma invests $5 mn in SastaSundar Healthbuddy
Mint e-paper: Japanese firm invests $5 million in SastaSundar Healthbuddy
Business Line: Kolkata-based e-pharmacy SastaSundar gears up for expansion
Express Pharma: Rohto Pharmaceutical, Japan forges capital and business alliance with SastaSundar.com
MillenniumPost: Japan's Rohto Pharma, SastaSundar.com operator forge capital & business alliance
DealStreetAsia: Japan’s Rohto Pharma to acquire stake in India’s Sastasundar.com for $5m