Tata Digital to buy majority stake in online pharma startup 1MG

Tata Digital to buy majority stake in online pharma startup 1MG
IANS
Tata Digital Limited, a subsidiary of Tata Sons Private Ltd will acquire majority stake in digital health company 1MG Technologies Private Ltd (1MG).

Incorporated in 2015, 1MG is a leading player in the eHealth space and enables easy and affordable access to a wide range of products like medicines, health & wellness products, diagnostics services and tele-consultation to customers.
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The company operates three state-of-the-art diagnostics labs, has a supply chain covering over 20,000 pin codes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products.

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The investment in 1MG is in line with Tata Group's vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner.

E-pharmacy, e-diagnostics and tele-consultation are critical segments in this ecosystem and have been among the fastest growing segments in this space, as this sector enabled access to healthcare through the pandemic, said a joint statement by Tata Digital and 1MG.

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."

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Prashant Tandon, Co-Founder & CEO, 1MG, said: "We are delighted to join hands with one of India's most iconic & respected conglomerates. This marks a significant milestone in 1MG's journey to make high quality healthcare products & services accessible to customers across India."


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