Tatas to close down Tata Health, all you need to know


Tatas to close down Tata Health, merge services with Tata 1mg: Report

Tata Health. Twitter/@tatahealth

Tata Industries is set to close down its healthcare services business Tata Health, according to Times of India. Sources told TOI that the company will discontinue Tata Health as the company has been unable to scale up its business model since it was launched seven years ago.

According to TOI, Tata Health’s services of online doctor consultations, check-up packages and e-pharmacy services have largely been restricted to Bengaluru. Furthermore, many of the services offered by Tata Health are now overlapping with Tata Digital’s venture Tata 1mg. Keeping this in mind, the company has informed its customers that the services offered by Tat Health will now be available through Tata 1mg from 1 October.

The promoter- Tata Sons – reportedly believe that it is better to support the bigger of the two healthcare services entities. Tata Health employs around 150-200 people and several of them have been moved to Tata 1mg or other entities. The company has not responded to any questions about the development.

Tata Digital owns a 63 percent stake in Tata 1mg since last year. It has the option to acquire the remaining 37 percent stake from shareholders and founders in the near future.

Tata 1mg competes with Reliance Retail’s Netmeds and Amazon Pharmacy in the healthcare services segment. According to its website, the online retailer is present in over 1800 cities. It has delivered over 31 million orders till date.

Tata 1mg financials:
According to data sourced by Tofler, Tata 1mg saw its liabilities fall by 51.69 percent for the financial year ending 31 March 2022. The company’s losses narrowed to Rs 146.30 crore, while its revenue increased to Rs 222.10 crore in the financial year 2022.

Another merger by Tatas:
The Tata Group also declared that it would merge seven of its metal companies into Tata Steel. The decision was taken at a board meeting held on Thursday, as per an exchange filing. Under the decision, TRF Limited, Tinplate Company of India, Tata Metaliks, Tata Steel Long Products, Tata Steel Mining Limited (TSML), S&T Mining Company Limited and the Indian Steel and Wire Products Limited will be merged into the parent company Tata Steel. Tata has withdrawn the earlier merger scheme of Tata Steel Long Products and Tata Metaliks.

Read all the Latest News, Trending NewsCricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.





Supply hyperlink

Leave a Comment

%d bloggers like this: