July 18, 2018 / 2:20 PM / 4 months ago

Amazon in talks to invest in India's MedPlus: FactorDaily

FILE PHOTO: The logo of Amazon is seen on a building in San Jose, Costa Rica March 21, 2018. REUTERS/Juan Carlos Ulate

(Reuters) - Amazon.com Inc is in early talks to invest in Indian pharmacy chain MedPlus, Indian news website FactorDaily reported on Tuesday, citing sources.

MedPlus Health Services runs over 1,500 pharmacies in India, according to the company’s website. The pharmacy chain also operates online store MedPlusMart, lab testing centres 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 U.S.-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 U.S. ecommerce giant, which expects groceries and household products to account for over half of its business in India in the next five years.

Reporting by Aby Jose Koilparambil in Bengaluru

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