TATA serious about DIAGNOSTICS10 Apr 2022 15:03
Tata acquired majority stake in e health care company last year , they are taking healthcare and diagnostics very seriously and are now using our POC diagnostic machines .
June 10, 2021 | Mumbai | Tata Digital
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Tata Digital Limited, a 100% subsidiary of Tata Sons Private Limited, will acquire a 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 & teleconsultation to customers. 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.
The investment in 1MG is in line with the Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner. E-pharmacy, e-diagnostics, and teleconsultation 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. The overall market is around $1bn and expected to grow at ~50% CAGR driven by increased health awareness among consumers and greater convenience. This category will form a key element of the Tata Digital ecosystem offering.
Commenting on the investment, Mr. 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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