In 2021, you must have heard about the news of Tata acquiring one more company after BigBasket. There was a huge buzz that Tata has again acquired one of the biggest companies and as continuing its pattern of acquiring businesses from different sectors, Tata again had done it. 

So let’s talk about that today. Which company did Tata acquire? Which subsidiary of Tata acquired the new company? What’s their long-term vision? We will answer all these questions today.

• Which Company Did Tata Acquire?

In 2021, Tata acquired the leading giant in the e-Health space, i.e. 1mg Technologies Pvt Ltd. It is India’s largest digital health platform and has been in the number 1 position often. It’s not only to say that it has been the number 1 digital health platform, we have analytics proof of this, it has 40 million monthly unique users and 500 million monthly page views. 

1mg was built with a unique but at the same time basic concept. Its main vision was to make healthcare affordable, accessible, and understandable. This company widely scaled up after 2015 and from then onwards has always been on top because of its simple idea. Now, 1mg operates India’s largest platform comprising e-pharmacy, e-diagnostics, and e-consult services.

1mg offered a wide range of products ranging from medicines to health and wellness products to diagnostics services and teleconsultation to its customers. This company has always been on the top in the field of providing its customers with nothing but the best. 

The company operates three state-of-the-art diagnostics labs. And not only that, it has a wide range of supply chains too. You will be shocked to know that it covers around 20,000 pin codes all across the country. 1mg through its subsidiaries is also engaged in the business of B2B distribution of medicines and other healthcare products. Not only that 1mg is the only company in India operating with a Legit Script and ISO certification for its e-pharmacy lines as well NABL (National Accreditation Board for Testing and Calibration Laboratories) accreditation for its Diagnostics business which is literally a big deal.

• Which Subsidiary of Tata Acquired 1mg?

Tata Sons Pvt Ltd has many subsidiaries and one among them is Tata Digital Limited which is a 100% subsidiary of its parent company, i.e. Tata Sons Pvt Ltd. 

Tata Digital started functioning in August 2019. It was started with a basic vision of building consumer-centric digital businesses. It was with the concept of engaging more and more consumers to the e-platform of businesses and also to complete their needs and wants from varied sectors like finance, retail, travel, health, etc.

But it’s not only consumer-centric. Tata Digital has a view of providing an e-platform to the businesses as well so that they can easily communicate and provide the consumer with their required needs and wants. So basically the vision of Tata Digital is to provide every business and consumer an e-platform in this world of ever-increasing mobile users.

• What Is Their Long-term Vision?

Here comes the last question of today’s topic, what’s their long-term vision that why Tata has acquired 1mg? The answer to this is very simple, Tata acquired 1mg to provide everyone a digital platform for business purposes and consuming purposes. 

Everyone knows that in this digitised world everyone is compelled to be tech-savvy. It’s not a choice anymore, it has become a necessity, especially after the COVID scenario. So keeping this in mind Tata has also acquired 1mg, so they could together provide people a digital ecosystem where both the seller and consumer could enjoy the benefit.

E-pharmacy, e-diagnostics, and teleconsultation have been an integral part of this digital ecosystem. 1mg has been the master at this, so it’s obvious why Tata acquired it. The overall market is around $1bn and is expected to grow at ~50% CAGR driven by increased health awareness among consumers and greater convenience. Also, Tata is known for investing in various sectors. So now it has tried its hands in the digital health sector.

In the words of Mr. Pratik Pal, Chief Executive Officer of Tata Digital, “The investment in 1MG strengthens Tata’s ability to provide superior customer experience and high-quality healthcare products and services in the e-pharmacy and e-diagnostics space through a technology-led platform.”

Not only him, but the Co-founder and Chief Executive Officer of 1mg also delightedly said “We are delighted to join hands with one of India’s most iconic and respected conglomerates. This marks a significant milestone in 1mg’s journey to make high-quality healthcare products and services accessible to customers across India.”

This was all about understanding 1mg and its acquisition by Tata. Throughout reading this, you must have understood how important it is to be tech-savvy in these times and also, to take your business online. It’s not the time now where you could just physically sit in your shops and all the work is done. Now you have to take your business online and work hard to maintain your significant position.

Raseet will help you in this process. Through Raseet you can send digital bills to your customers over their phone from which they can digitally visit your shop and purchase any product of their choice. Come in contact with us at https://raseet.com and we will let you know about it all.