HBM Healthcare Investments announced today, that Tata Digital, a fully-owned subsidiary of Tata Sons Private Limited, to acquire a majority stake of its privately held portfolio company 1mg.
HBM Healthcare Investment was one of the early backers of 1mg and invested in various financing rounds a total of CHF 17 million since May 2016. As part of the transaction with Tata Digital, which comprises a purchase of primary and secondary shares by Tata Digital, HBM Healthcare Investments to sell about one quarter of its shareholding and will continue to own a stake of about four percent in 1mg.
Founded in 2015, 1mg is a leading player in the eHealth space and enables easy & affordable access to a wide range of products like medicines, health & wellness products, diagnostics services & tele-consultation to customers. The company operates three state of the art diagnostics labs, has a supply chain covering over 20,000 pincodes across the country and through its subsidiaries is also engaged in the business of B2B distribution of medicines & other healthcare products.
About HBM Healthcare Investments
HBM Healthcare Investments invests in the healthcare sector. The Company holds and manages an international portfolio of promising companies in the human medicine, biotechnology, medical technology and diagnostics sectors and related areas. Many of these companies have their lead products already available on the market or at an advanced stage of development. The portfolio companies are closely tracked and actively guided in their strategic direction. This is what makes HBM Healthcare Investments an interesting alternative to investments in big pharma and biotechnology companies. HBM Healthcare Investments has an international shareholder base and is listed on SIX Swiss Exchange (ticker: HBMN).
Disclaimer
The publication is for information purposes only and does not constitute an offer to sell or a solicitation to buy or subscribe for securities. This news release does not constitute a prospectus within the meaning of Art. 35ff FinSA, or securities prospectus in the sense of the German securities prospectus law. This news release and the information contained therein is not intended for distribution to the United States of America (USA) or within the USA and may not be distributed or forwarded to US persons (including legal persons) or to publications with a general distribution in the USA. This news release is not an offer or solicitation to buy securities in the United States. HBM Healthcare Investments AG's securities were not issued in accordance with the U.S. U.S. securities laws, and may not be sold, offered for sale, or delivered in the U.S. or to U.S. individuals without prior registration or without a registration exemption. Some information quoted was obtained from external sources HBM considers to be reliable. HBM cannot guarantee the adequacy, accuracy, timeliness or completeness of or be held responsible or liable for errors of fact regarding such data and information obtained from third parties, and this data may change with market conditions.
