HEALTHCARE CENTRE
India must embrace a hybrid model that aligns research with industry needs, and avoid the US path
Narendra Modi launched the Anusandhan National Research Foundation with a ₹50k crore budget over five years to align academic research with industry needs. The initiative aims to avoid inefficiencies seen in the US system and leverage India's strengths in practical applications, exemplified by IIT Madras's successful industry-academic collaborations.
Unveiling an era of promise and possibilities: Abu Dhabi’s blueprint for propelling AI-led innovations in healthcare
In conversation with Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Center, Department of Health (DoH), who shares critical insights into the Abu Dhabi Global Health Week key agendas, including advancing neurodegenerative disease patient care, public-private partnerships to develop a robust and resilient healthcare sector worldwide, nurturing Gen AI-based healthtech startups in Abu Dhabi, and fostering innovations in biotech and life sciences.
On US visit, Tamil Nadu CM MK Stalin exchanges MoU with Caterpillar
The Tamil Nadu government, led by Chief Minister MK Stalin, has signed multiple MoUs with companies like Caterpillar, Ford Motors, and Autodesk to boost manufacturing and job creation in the state. Investments include Rs 2000 crore in Tiruchirapalli and Rs 666 crore in Kanchipuram. Stalin is currently on a US visit to secure further investments.
India's global centre market to grow to $105 billion by 2030, says Nasscom-Zinnov report
India's global capability centres are projected to grow significantly, reaching a market size of $99 billion-$105 billion by 2030 from $64.6 billion in fiscal 2024. The growth is driven by the talent pool and increased multinational investments. The number of companies with GCCs in India is expected to rise to around 2,100-2,200 by 2030.
Robust private sector investment taking place in various sectors: Vinayak Chatterjee
In social infra, if you see healthcare, real estate and now the announcement of new industrial cities. If you see some marquee announcements, there have been the announcements on chips, on mobile manufacture, on batteries with Ambanis.
Astrazeneca, Natco Pharma shares rally 4% after GST cut on cancer drugs
In reaction to the update, pharma stocks like Astrazeneca Pharma surged 4.4% to its day’s high of Rs 7,069 on BSE while Fortis Healthcare shares went up by 3% to Rs 563.55 and those of Natco Pharma shot up 2.5% to Rs 1,585.
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Tamil Nadu CM MK Stalin secures another key investment for State during US visit
Tamil Nadu Chief Minister MK Stalin, during his official visit to the United States, announced major investments aimed at boosting the state's industrial progress. Key agreements include a Rs 2000 crore investment by Jabil in Tiruchirapalli and a Rs 666 crore investment by Rockwell Automation in Kanchipuram, creating over 5000 jobs.
Health Ministry advisory asks states to intensify screening and contact tracing to prevent outbreak
Mpox Alert in India: The Union Health Ministry has issued an advisory to states and union territories following a suspected Mpox case in Delhi. The patient, recently returned from abroad, is in isolation and stable. Enhanced surveillance and testing measures are urged, with a focus on public awareness without causing panic. The Ministry assures that India is prepared to handle such cases.
SA Technologies launches Global Capability Center (GCC) in Pune for healthcare industry clients to drive product development and customer support
SA Technologies has proudly opened its Global Capability Center (GCC) in Pune, India, marking a significant milestone in the company’s pursuit of global operational excellence. This strategic expansion is designed to support their global client Tendable, which fosters innovation in healthcare solutions and continues to grow its international reach. SA Technologies' leadership as a premier IT consulting, offshore, and GCC service provider reinforces their commitment to delivering innovative and cutting-edge solutions.
EQT to acquire ChrysCap-owned healthcare BPO GeBBS
Swedish Private Equity fund EQT has acquired GeBBS Healthcare Solutions from ChrysCapital for approximately $860-870 million. GeBBS, a provider of revenue cycle management services, has seen significant growth under ChrysCapital's ownership. The acquisition aligns with EQT's focus on healthcare technology and aims to further accelerate GeBBS' growth.
Tamil Nadu CM MK Stalin explores investment opportunities in AI with BNY Mellon
Tamil Nadu Chief Minister MK Stalin's visit to the US has resulted in significant investment opportunities. Discussions with BNY Mellon focused on AI investments, while MOUs worth Rs 850 crores were signed with Lincoln Electric, Vishay Precision, and Visteon. Additional agreements include a Rs 2000 crore MoU with Trilliant and engagements with Nike and Optum.
Tamil Nadu CM MK Stalin signs MoUs for Rs 850 crores with Lincoln Electric, Vishay Precision, Visteon
Tamil Nadu Chief Minister MK Stalin announced that the state has secured MoUs worth Rs 850 crores with US-based companies Lincoln Electric, Vishay Precision, and Visteon. Additionally, a Rs 2000 crore MoU was signed with Trilliant for a manufacturing unit and support centre. Further agreements were made with Nike, Optum, Eaton, and Assurant.
Tamil Nadu CM MK Stalin signs MoUs for Rs 2000 crores with Trilliant to set up manufacturing unit
Tamil Nadu Chief Minister MK Stalin has secured a Rs 2000 crore MoU with Trilliant to establish a manufacturing unit and Global Support Centre in Tamil Nadu. He also held talks with Nike for expanding footwear production in Chennai and engaged with Optum for healthcare talent development. Additionally, agreements were signed with Eaton, Assurant, and Ohmium for various projects in the state.
EQT set to acquire BPO GeBBS from ChrysCapital
Swedish private equity fund EQT is set to acquire Los Angeles-based healthcare BPO company GeBBS Healthcare Solutions for about $870 million. The deal, which outbid Hillhouse Investment, is expected to be signed soon. GeBBS, founded in 2005, employs 14,000 workers globally and competes with major firms like Wipro and IBM.
'Decoding the AI Disruption' panel discussion at ET WLF: Take AI and adapt it to India's needs
India holds immense potential for personalised AI platforms leveraging extensive local data sets, said Nigel Vaz, CEO of Publicis Sapient. The panel discussed AI applications in various sectors including healthcare, education, and traffic management, while flagging infrastructure challenges. Microsoft's Physicswallah and GitHub's Copilot were highlighted as key AI-driven innovations.
Smaller hospitals a picture of health on bourses
The newer players, such as Yatharth Hospital and Jupiter Life Line, have gained 58% and 25%, respectively, since their listings. Not just hospitals, even medical insurance administrator Medi Assist, that works with hospitals, has also gained 28% since its listing in January this year.
'Night patrol, access control': Centre suggests measures to states on safety of medics
In a virtual meeting on Wednesday, co-chaired by secretaries of the Union home and health ministries and attended by chief secretaries and director generals of police (DGPs), the central government officials said state laws are already in place in 26 states and Union Territories (UTs) for safeguarding healthcare professionals.
Healthcare vertical keeping heart rates up at Indian IT services companies
In recent months, the healthcare vertical of India-centric IT services firms has been in the spotlight, seeing a lot of activity and grabbing headlines for both good and bad reasons. This is in the backdrop of Cognizant TriZetto, a unit of Cognizant Technology Solutions, suing Infosys in a US court for allegedly stealing its trade secrets related to its healthcare insurance software.
Delhi HC directs authorities to look into forcible detentions at de-addiction centre
The Delhi High Court instructed authorities to probe allegations of involuntary detention at a local de-addiction centre. The court ordered random checks of the admission register to comply with the Mental Healthcare Act. This move followed a petition claiming that a man was forcibly admitted by his wife, an assertion the centre disputes.
States hike in healthcare expenditure to help meet India's '2.5% of GDP' target
India's expenditure on health, including clean water and sanitation, is on track to reach the target of 2.5% of GDP by 2024-25. States have surpassed the Centre's allocation to achieve a combined effort of 2.13% of GDP. Despite concerns over declining spending on healthcare systems, increased state allocations may help reach the 2.5% target by 2025.
CX Partners buys controlling stake in fertility centre Sabine
Founded in 2010, Sabine's Muvattupuzha hospital draws couples from across Kerala for IVF treatment that helps individuals or couples get pregnant. On an average, Sabine does about 500-600 IVF cycles per month, or about 42%-45% of all IVF procedures in Kerala.
Chinese scientists develop cure for diabetes, insulin patient becomes medicine-free in just 3 months
Chinese scientists achieve diabetes cure through innovative cell therapy, detailed in Cell Discovery. Patient, treated in July 2021, no longer requires insulin after eleven weeks, and is now medication-free for 33 months. The breakthrough, praised by Timothy Kieffer, signifies a major advancement in diabetes treatment. This novel approach utilizes the body's regenerative abilities and could alleviate China's healthcare burden. Further studies are needed for validation.
JV Ventures forays into healthcare-dedicated infrastructure platform; plans to open 75 centres in next 5 years
JV Ventures diversifies into healthcare infrastructure with The Medical Centre (TMC), investing $600 million for 75 centers. Raja Jain appointed CEO. Vishal Goel and Jasmeet Singh Chhabra express optimism. TMC to offer specialized services in major Indian cities.
Responsible Innovation, how a blueprint for collaborative action is advancing global healthcare
On the occasion of the Abu Dhabi Global Healthcare Week (ADGHW), Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre, discusses the UAE's prioritisation of healthcare in driving investments and partnerships focusing on advancing technology and attracting top talent and fostering collaboration with India reflecting shared challenges and opportunities in healthcare. Overall, collaboration with global partners and investment in manufacturing capabilities exemplify the UAE's commitment to healthcare excellence and innovation, while initiatives like Malaffi enhance data-driven services. Read on to discover how ADGHW aims to faciliate responsible innovation in healthcare, even as the UAE emphasises patient rights protection in an era of advancing AI and data usage.
New study challenges benefits of healthcare privatisation
A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.
Empowering healthcare innovations: Dr. Noura Khamis Al Ghaithi on ADGHW's role in global healthcare collaboration
H.E. Dr. Noura Khamis Al Ghaithi discusses ADGHW as a platform for global healthcare collaboration, focusing on innovations and partnerships with Indian healthcare providers. The event aims to develop precision health initiatives, strengthen life sciences research, attract medical tourism, and support a growing startup ecosystem.
ChrysCapital to invest Rs 830 cr in Centre For Sight, to pick Mahindra Holdings' entire stake
ChrysCapital, a domestic PE fund, is set to invest up to Rs 830 crore in New Delhi's Centre for Sight (CFS), a leading eye care chain, partly acquiring Mahindra Holdings Limited's stake. The investment aims to bolster CFS's expansion across India's Tier 1 and 2 cities. CFS, founded in 1996, operates 83 centers across 15 states/UTs and 39 cities, expecting revenue of Rs 515 crore in FY24.
Do Dr Lal Pathlabs' results indicate a turnaround for the sector? 4 stocks from diagnostic space, 3 with upside potential of up to 31%
Some sectors have a company which can be called as the bell weather of that sector and that is why its results of that company probably are indicative of what is happening in the sector. In case of the diagnostic, it is probably the Dr Lals path labs which would fit the criteria, it has national presence, large network, present in both physical and digital segment. So when the quarterly numbers come and they show improvement on many fronts then probably it is time to have a look at them more seriously and see if there is a possible turnaround building in the sector. This became even more important because these stocks had gained extremely high valuation and also popularity in terms of both retail and institutional participation. But then for close to two years, they have been a strong under performer in a strong bull market. Does this result mean that finally in terms of price war for customer acquisition over and now the valuation readjustment will start in the upward direction.
Stock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 39%
Last week’s movement of the market has brought back some memories of what happened in March 2024. Given the event risk in terms of election results, we might see higher volatility as some profit booking takes place. If one is not a trader and knows how to hedge, it would be better to be cautious before investing. If one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
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