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Tata Digital, a 100 per cent subsidiary of Tata Sons, To Buy Majority Stake In Online Healthcare Marketplace 1MG


Tata Digital To Buy Majority Stake In Online Healthcare Marketplace 1MG

Earlier this week, Tata Digital had announced investment of up to $75 million in CureFit Healthcare

Tata Digital, a 100 per cent subsidiary of Tata Sons, has announced that it will acquire a majority stake in digital health company 1MG Technologies. “The investment in 1MG is in line with the Tata group’s vision of creating a digital ecosystem that addresses the consumer needs across categories in a unified manner,” Tata Digital said in a statement.

Commenting on the investment, Mr. Pratik Pal, CEO of Tata Digital, said, “The investment in 1MG 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.”

1MG was incorporated in the year 2015. It is a leading player in the eHealth space, enabling easy and affordable access to diverse products such as medicines, health & wellness products, diagnostics services and teleconsultation. It operates three state-of-the-art diagnostics labs and has a supply chain covering over 20,000 pin codes across the country.

Earlier this week, Tata Digital had announced investment of up to $75 million in fitness and health startup CureFit Healthcare, which operates popular gym chain CultFit. And last month, Tata Digital had received approval from the Competition Commission of India to acquire a majority stake in online grocery player BigBasket.

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