Tata Digital to acquire majority stake in 1MG

Tata Digital Ltd., a 100% subsidiary of Tata Sons, has entered into an agreement to acquire majority stake in 1MG Technologies Pvt. Ltd., a digital health company, for an unspecified amount.

1MG enables easy & affordable access to medicines, health and wellness products, diagnostics services & tele-consultation to customers.

The company operates 3 diagnostics labs, has a supply chain covering over 20,000 pincodes across the country.

Through its subsidiaries it is also engaged in the business of B2B distribution of medicines & other healthcare products.

The investment is in line with Tata Group’s vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner, the company said.

“The investment strengthens Tata’s ability to provide superior customer experience and high quality healthcare products & services in e-pharmacy and e-diagnostics space through a technology led platform,” said Pratik Pal, CEO, Tata Digital.

“This marks a significant milestone in our journey to make high quality healthcare products & services accessible to customers across India,” said Prashant Tandon, co-founder & CEO, 1MG.

Source: Read Full Article