Industry

Tata Digital to acquire majority stake in ehealth firm 1MG Tech

 

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 and affordable access to medicines, health & 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, IMG.


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Printable version | Aug 5, 2021 9:23:52 PM | https://www.thehindu.com/business/Industry/tata-digital-to-acquire-majority-stake-in-ehealth-firm-img-tech/article34776776.ece

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