Tata Digital, a wholly-owned subsidiary of Tata Sons, will soon 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,” said Tata Digital in its official communiqué.
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 started its operations in 2015. It is a leading player in the eHealth space and offers easy and affordable access to diverse to products such as medicines, health & wellness products, diagnostics services and teleconsultation.
Earlier, this week Tata Digital had declared investment of up to $75 million in fitness and health start-up CureFit Healthcare, which operates popular gym chain CultFit. In May, the company had received approval from the Competition Commission of India to buy majority stake in online grocery giant BigBasket.