• Tata Digital had given a sum of Rs 100 crore to 1MG in debt few months back
Tata Sons-owned company Tata Digital Limited, has decided to purchase a majority stake in digital health company 1MG Technologies.
According to a statement issued by the company, this investment in 1MG falls in line with Tata Group’s vision of creating a digital ecosystem that will take care of the consumer needs across categories in a unified manner.
While the financial details of the deal were not disclosed, the 100% subsidiary of Tata Sons had lend a sum of Rs 100 crore to 1MG few months back.
Talking about this investment, Pratik Pal, CEO, 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.”
On the other hand, 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.”