After recently acquiring stake in online shopping platform Bigbasket, Tata Digital has acquired a majority stake in e-pharmacy 1 MG, Tata Digital said in a statement on Thursday.
1MG is also into e-diagnostics and teleconsultations.
Tata Digital is a subsidiary of Tata Sons Private Limited and the company has been on an investment spree. The company also recently said that it would invest in fitness start-up CureFit.
“The investment in 1MG strengthens Tata’s ability to provide superior customer experience and high-quality healthcare products & services in the e-pharmacy and e-diagnostics space through a technology led platform,” Pratik Pal, CEO of Tata Digital, said.
1MG has been competing with companies like Netmeds which was acquired by Reliance Retail, the retail arm of Reliance Industries.
(Published 10 June 2021, 07:58 IST)
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