Tata Digital, a wholly-owned subsidiary of Tata Sons, will invest up to $75 million in CureFit Healthcare Private Limited, the company announced on June 7.
As part of the agreement, CureFit founder and chief executive officer Mukesh Bansal will join Tata Digital in an executive role as president. In addition, Bansal will continue in his leadership role at CureFit.
The statement issued by Tata Digital noted that the Memorandum of Understanding (MoU) between the two companies has been inked, and the proposed investment would be cleared "subject to completion of diligence process and other approvals".
"The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers’ life," Tata Sons Chairman N Chandrasekaran said.