To expand in Indias online healthcare marketplace, Tata Sons subsidiary Tata Digital Limited, announced to acquire a majority stake in 1MG Technologies Private Ltd. 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 1MG 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.
- 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 major deals and expansions by Tata Group are mentioned below:
June 2021: Silicon Valley based startup, AccessBell, sold its video conferencing software solution to Tata Medical & Diagnostics. AccessBell was founded in March 2020 at the start of the COVID-19 pandemic.
May 2021: To strengthen e-commerce portfolio, Tata Digital Limited, a 100% subsidiary of Tata Sons Private Limited has acquired a majority stake in Supermarket Grocery Supplies Private Limited (BigBasket) in India. BigBasket is Indias largest e-commerce player in the Food & Grocery segment.
In the e-grocery space, BigBasket provides one of the largest assortments (50,000+ SKUs) and provides customers the convenience of home deliveries on preferred dates and time slots.
BigBasket also operates a farm-to-fork supply chain with over 12,000 farmers and several collection centers across India to deliver high-quality fresh fruits and vegetables to its customers.
May 2020:The Tata Group had entered into a partnership agreement with Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), Trivandrum, an Institution of National Importance, Department of Science and Technology, Govt. of India for commercial production of COVID-19 testing kits.
May 2019:Tata Global Beverages Limited (TGBL) and Tata Chemicals Limited (TCL), at their respective meetings held, have approved the de-merger of the Consumer Products Business of TCL into TGBL through a National Company Law Tribunal (NCLT) approved scheme of arrangement (Scheme).
Sep 2018: Tata Advanced Systems (TASL) and Lockheed Martin Corp. [NYSE: LMT] announced an agreement to commence production of F-16 wings in India for export. This strategic initiative positions TASL to become the provider of wings for all future customers and strengthens its role in the F-16 global supply chain. The landmark ‘Make in India’ move will also strengthen US-India defence ties.
About Tata Digital Limited:
Tata Digital is a wholly own subsidiary of Tata Sons Private Limited. Tata Digital established in in 2019, to build consumer-centric digital businesses for deep consumer engagement and their needs across multiple verticals – retail, travel, financial services.
About Tata Group
Tata group headquartered in Mumbai, India, is a global enterprise. The group operates in more than 100 countries across six continents. The group comprise of 30 companies across ten verticals such as chemicals, consumer products, energy, engineering, information systems, materials, and services. The group collectively employs approximately 750,000 people globally.
The group companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Tata Advanced Systems, Indian Hotels and Tata Communications.