Tata Digital to acquire majority stake in online pharmacy 1mg

Tata Digital to acquire majority stake in online pharmacy 1mg
Tata Digital acquires majority stake in online pharmacy 1mg

Tata Digital on Thursday announced that it will acquire a majority stake in 1MG, a digital health startup. The investment is the latest in a series of investments the Tata Group has made as part of its strategy to build a super app and comes weeks after the salt-to-steel Indian conglomerate bought BigBasket, as well as announced an investment in fitness startup CureFit.

The company, however, did not divulge the financial details of the transaction.

Tata Group is a wholly-owned subsidiary of Tata Group. The acquisition in IMG is in accordance with Tata Group’s vision of creating a digital ecosystem that addresses the consumer needs across categories in a unified manner, the company said in a statement.

“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,” said Pratik Pal, chief executive officer (CEO) of Tata Digital.

Shirisha

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