Tata Digital's 1mg buy a prescription for strong e-pharma growth

1mg reported revenue of Rs 357.9 crore for 2019-20 (FY20), and Rs 266 crore for the period from April 1, 2020, to January 31, 2021

Continuing its push into the digital online ecosystem, Tata Digital, which is building its super application ecosystem, has now put online pharmacy player 1mg in its cart after betting on e-grocery BigBasket and fitness start-ups Cult.fit. 

According to sources, Tata Digital, a 100 per cent subsidiary of Tata Sons, has acquired 60 per cent stake in the start-up. The deal size is valued at $270 million.
 

1mg has presence in the online health space and enables access to medicines, health and wellness products, diagnostics services, and teleconsultation. It operates three diagnostic laboratories and has a supply chain servicing over 20,000 pincodes