Tata Digital on Thursday said that it acquired a majority stake in digital health company – 1MG Technologies. This acquisition comes weeks after it made an investment in CureFit, and acquired a majority stake in online grocery seller BigBasket.
Tata Digital CEO Pratik Pal said in a statement that the investment in 1MG strengthens Tata’s ability to provide superior customer experience and high-quality healthcare products and services in the e-pharmacy and e-diagnostics space through a technology-led platform.
According to a report in newspaper Mint, the investment in 1MG is in line with Tata Group’s vision of creating a digital ecosystem that addressed the consumer needs across categories in a unified manner.
Tata Digital said that e-pharmacy, e-diagnostics and teleconsultation are critical segments and will form a key element of the digital ecosystem it is building.
“We are delighted to join hands with one of India’s most iconic and respected conglomerates. This marks a significant milestone in 1MG’s journey to make high-quality healthcare products and services accessible to customers across India,” said 1MG co-founder and CEO Prashant Tandon.
1MG operates three diagnostics labs and has a supply chain covering over 20,000 pincodes across India. Through its subsidiaries, the company also engaged in business-to-business (B2B) distribution of medicines and other healthcare products, the newspaper reported.