New Delhi: Tata Digital Limited, a 100% subsidiary of Tata Sons Private Ltd, is all set to acquire a majority stake in 1MG Technologies Private Ltd (a digital well being firm).
“The funding in 1MG strengthens Tata’s capacity to present superior buyer expertise and top quality healthcare merchandise & providers in e-pharmacy and e-diagnostics area by means of a technology-led platform,” stated Pratik Pal, CEO of Tata Digital in a launch.
Prashant Tandon, Co-Founder & CEO, 1MG, stated: “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.”
This is the corporate’s second large and important acquisition after BigBasket that it had made in February this 12 months. Tata group has acquired 68 p.c stake in on-line grocery platform BigBasket for round Rs 9,500 crore.
Earlier this week, Tata Digital entered right into a Memorandum of Understanding for an funding of up to USD 75 million in CureFit Healthcare Private Limited, one in all India’s main health participant.
Tata Digital arrange its operations in August 2019, to construct consumer-centric digital companies for deep shopper engagement and their wants throughout a number of verticals – retail, journey, monetary providers.
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