Prashant Tandon: Pioneering the Digital Healthcare Revolution with 1mg

In a rapidly evolving healthcare landscape, Prashant Tandon stands as a trailblazer, driving innovation in the digital healthcare sector through his brainchild, 1mg.com. With a recent strategic acquisition and unwavering dedication to consumer well-being, Tandon is reshaping the way India approaches healthcare.

1mg.com, based in Gurgaon, started its journey in 2013 as Healthkartplus. Today, it has evolved into a comprehensive healthcare platform that aims to be the one-stop solution for consumers in India. With over two and a half million app downloads and more than three million monthly visits, 1mg has seen a phenomenal 600% growth in app downloads and user engagement over the past year. Prashant Tandon’s vision for 1mg extends beyond merely facilitating the purchase of medicines. It’s a platform where consumers can find medicines, check for interactions, order diagnostic tests, consult with doctors, and discover reliable healthcare solutions. What sets 1mg apart is its commitment to delivering medicines right to the doorstep of consumers in Delhi NCR and Bhubaneswar.

However, the journey to success hasn’t been without its challenges. The e-pharmacy model faces regulatory complexities rooted in outdated laws that often lead to confusion. 1mg.com is actively working to bridge this gap, helping regulators understand its fully compliant model. Dealing primarily with prescription medicines, the platform maintains the highest level of caution and forges partnerships only with authentic and licensed diagnostic labs and pharmacies.

What distinguishes 1mg.com in this evolving sector is its comprehensive approach. It has gone beyond serving individual segments and become an integrated platform where consumers can seamlessly manage their healthcare needs. But 1mg’s ambitions don’t stop at conventional medicine. The recent acquisition of Homeobuy.com signifies the platform’s venture into alternate medicine, particularly in the AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy) segment. The acquisition will enable 1mg to offer a wide range of homeopathic and ayurvedic medicines to customers in the National Capital Region (NCR). By rebranding Homeobuy.com to 1mgAyush.com, Tandon’s vision is to cater to the growing demand for alternative forms of medicine.

The AYUSH industry in India has seen remarkable growth. According to the Assocham report, this industry is currently valued at Rs 3,000 crore and is growing at an annual rate of 30%. By 2017, it is expected to exceed Rs 5,500 crore, with an estimated increase in consumers from 10 crore to 16 crore. The Indian government’s focus on mainstreaming AYUSH through the mission AYUSH and an allocation of Rs 33,152 crore underscores the tremendous growth potential in this segment. Prashant Tandon’s keen interest in alternative medicine aligns with the government’s mission and the increasing demand for such treatments among consumers.

1mg.com’s journey, from its inception as part of the Healthkart family to becoming a separate entity, showcases the entrepreneurial spirit and resilience of Prashant Tandon. The platform recently secured $6 million in funding from prominent investors, including Omidyar Network, Intel Capital, Sequoia Capital, Kae Capital, and Deep Kalra, the founder of MakeMyTrip.com, among others. This financial boost will undoubtedly propel 1mg.com’s mission to provide accessible and reliable healthcare services to millions of consumers.