Category: Medical

  • Chennai’s Govt Hospital, Kolathur, which was build worth ₹210 crore, will shortly operate

    Chennai’s Govt Hospital, Kolathur, which was build worth ₹210 crore, will shortly operate

    The newly constructed six-storey building of the Government Hospital in Kolathur in Chennai built at a cost of ₹210 crore and awaiting inauguration, would be named after late social reformer ‘Periyar’ E.V. Ramasamy, the Tamil Nadu government said on Sunday.

    Chief Minister M.K. Stalin issued directions in this regard. He also inspected the new building during his visit to Periyar Nagar in his Kolathur Assembly constituency on Sunday. The hospital is to be inaugurated by him later this month.

    Following its decision to upgrade the Government Peripheral Hospital in Periyar Nagar, the TN government laid the foundation stone in March 2023 for the construction of an additional building with three floors. Eventually, it decided to add three more floors to the building.

    Mr. Stalin also visited the ‘Mudhalvar Padaippagam’, a coworking and learning space that he had inaugurated in November last year, and interacted with students there. The learning space was designed to benefit students preparing for national and State-level competitive examinations.

    Ministers Ma. Subramanian, P.K. Sekarbabu and Anbil Mahesh Poyyamozhi; Chennai Mayor R. Priya; MPs A. Raja and Kalanidhi Veeraswamy and senior officials accompanied the CM during his visit. The Hindu

  • The Merger of Aster, QCIL will be completed in eight months

    The Merger of Aster, QCIL will be completed in eight months

    The merger between Aster DM Healthcare and Blackstone-backed Quality Care India Limited (QCIL) is expected to reduce HR and procurement costs for the combined entity while eliminating resource duplication.

    Anoop Moopen, the company’s director, stated that the merger would be completed within eight months.

    “The merger is in the process of integration, and we expect to close it out in eight months to a year,” said Moopen. “It will take us to the top league, increasing our overall capacity to over 10,000 beds once completed.”

    Aster DM Healthcare and QCIL merged in November through a share-swap deal, with 977 Aster shares allotted for every 1,000 QCIL shares.

    Aster DM Healthcare shareholders are expected to own 57.3% of the merged entity, which will operate over 10,000 beds across 38 hospitals.

    “We are focusing on optimising existing assets and ensuring synergies in procurement and talent,” Moopen added. “Once the merger is complete, we aim to eliminate resource duplication and reduce HR and procurement costs.”

    Observers and analysts note that once the merged entity is listed, it will rank among the top three healthcare providers in India, or as Moopen put it, “in the big league.”

    The merger will also strengthen Aster’s presence in Kerala, where the company is developing three hospital projects in Thiruvananthapuram, Kasaragod, and Kochi.

    “Our 450-bed Thiruvananthapuram hospital will be commissioned within a year, while the 250-bed facility in Kasaragod will open in less than six months,” Moopen said. “We are also exploring other locations within Kerala to expand our presence.”

    Aster’s market position in Kerala is set to grow further as KIMS Healthcare, which is part of the merged entity, will play a significant role in driving regional revenue.

    Currently, Kerala contributes 55% to 60% of Aster’s total revenue, and this share is expected to rise post-merger.

    The company is also considering expansion into cities like Bhubaneswar, Aurangabad, and Kolhapur.

    “Our primary focus will remain on South India, as there is ample opportunity for growth in Tamil Nadu, Kerala, and Karnataka,” Moopen stated. “We have achieved a 25% CAGR and 30% EBITDA growth over the last five years, and the expanding insurance and healthcare market remains a strong tailwind for us.” CNBCTV18

  • PE firms make betting on Indian healthcare; MedTech funding raised fivefold to $1.2B

    PE firms make betting on Indian healthcare; MedTech funding raised fivefold to $1.2B

    India is one of the fastest-growing healthcare markets in the world, and the entry of more corporate players is a positive development, according to Viren Shetty, Executive Vice-Chairman of Narayana Health. However, while capital expenditure (capex) is important, it is also crucial to hire skilled doctors and train nurses to improve quality, he noted.

    Shetty explained that as more hospitals are built, overall industry standards will rise. He also stated that large business groups entering the sector could help bring better organisation and attract more investment.

    One key challenge, according to Shetty, is India’s reliance on imported medical equipment and consumables. “The larger the domestic healthcare industry grows, the more entrepreneurs come in and start becoming suppliers to Indian hospitals. So yes, I mean, long term, this is something that would only benefit the industry,” he said.

    Shetty acknowledged concerns about rising healthcare costs due to increasing privatisation. He explained that different business models cater to various market segments—some focus on cost-efficient, affordable healthcare, while others provide premium services with high-end infrastructure.

    He also shared his views on private equity (PE) investment in healthcare. “Private equity (PE), like any other fund, who is financing this industry is looking for the return of their money. It is just that the sources of capital are very different and the business model we build around that has to cater to that.” He added that a growing and competitive industry with investor interest will ultimately benefit consumers by offering more choices.

    Ankit Thakker, CEO of Jupiter Life Line Hospitals, who also participated in the discussion, highlighted the need for strong ethical standards as more private equity and industrial houses enter the healthcare sector.

    On the issue of affordability, he stressed that healthcare costs worldwide are beyond the reach of the average person without insurance. “Nowhere in the world, a quality healthcare cost is within the reach of an average person out of pocket. So, the aspiration for affordability has to be through the insurance procurement, and that is the way we need to look at it,” Thakker said.

    Private equity and venture capital firms are increasingly betting on India’s healthcare sector. In 2024, PE/VC deals surged to 84 transactions, up from 62 last year, signalling strong investor confidence. However, the deal value has shifted—investments in hospitals and clinics have fallen sharply from $4.6 billion in 2023 to $1.2 billion this year. At the same time, funding in medical equipment and devices has increased nearly fivefold to $1.2 billion, reflecting a growing focus on technology and innovation.

    Narayana Health has a market capitalisation of ₹30,422.17 crore, with its shares gaining around 7% in the past year and Jupiter Life Line Hospitals has a market capitalisation of ₹9,474.29 crore, but its shares have declined by nearly 2% over the past year. CNBCTV18

  • Metropolis is approaching the end of its deals with potential acquisition aims

    Metropolis is approaching the end of its deals with potential acquisition aims

    Mumbai-based diagnostic chain Metropolis Healthcare expects margin dilution in the next financial year ending March 2026 following its acquisition of Core Diagnostic. CEO Surendran Chemmenkotil said, “Core Diagnostic is relatively on a lower single-digit margin, so you can say 10% of the next year’s revenue coming at a much lower margin. Maybe there will be a little bit of margin dilution because of Core Diagnostic.

    However, the company’s goal is to bring Core Diagnostic in line with Metropolis’ overall margin levels by the third year.

    The company acquired Core Diagnostics to expand its oncology offerings and strengthen its position in India’s growing cancer testing market.

    The acquisition is nearing completion and the integration process will begin soon. Core Diagnostics’ revenue will start reflecting in Metropolis group financials by the start of the next financial year.

    In October–December 2024 (Q3FY25), Metropolis reported revenue of ₹322 crore, with margins at 22% and profit after tax at ₹31 crore.

    “Year-to-date (YTD) quarter three we are done at 12.5% growth in our revenues and earnings before interest, taxes, depreciation, and amortisation (EBITDA) is around 24.5%. We expect the year to be ending in the similar trends as we have been trending in the YTD quarter three,” Chemmenkotil said.

    He noted that the third quarter is typically a slow period for the company’s business, particularly in diagnostics and overall healthcare.

    However, the fourth quarter tends to see a recovery, with increased activity in the wellness segment as people complete their health checkups before the year ends.

    Metropolis Healthcare is also in the final stages of discussions with several potential acquisition targets, particularly in northern India. Once these deals are finalised, they are expected to further enhance growth in the coming year, building on the 12-13% increase already seen this year.

    Overall growth for the company will come from a combination of the company’s existing organic expansion, revenue contributions from the Core Diagnostics acquisition, and any additional acquisitions that are completed.

    Metropolis Healthcare’s current market capitalisation is ₹8,460 crore. Its shares have declined 2% over the last year. CNBCTV18

  • GeM plans to acquire from 1 lakh procurement

    GeM plans to acquire from 1 lakh procurement

    Public procurement portal GeM is aiming to onboard one lakh government-registered startups on its platform as it would provide a huge buyer base to these entities, an official statement said on Tuesday.

    The Government e-marketplace (GeM) is also looking at doubling the number of women entrepreneurs on the portal and increasing their share percentage in overall procurement of the country from the current 3.78 per cent.

    “With an ambitious goal of onboarding one lakh Department for Promotion of Industry and Internal Trade registered startups onto the portal, GeM is determined to become a vibrant startup ecosystem in public procurement,” the commerce ministry said.

    It added that GeM is intending to provide direct access for women entrepreneurs with government buyers, sans intermediaries, thereby ensuring better product prices, spurring hyper-local job creation and igniting inclusive growth. PTI

  • Kerala offer investment prospects for the UAE, with healthcare on the list

    Kerala offer investment prospects for the UAE, with healthcare on the list

    In a sign of strengthening ties between India and the United Arab Emirates (UAE), the West Asian country has said that it is looking for investment opportunities in key sectors such as healthcare, tourism, food processing, and technology in Kerala.

    Abdulla bin Touq Al Marri, UAE minister of economy, said on Saturday that the economic partnership between the two nations has witnessed remarkable growth over the years. He was in Kerala to attend the Invest Kerala Global Summit (IKGS).

    “The UAE is actively exploring investment opportunities across key sectors such as healthcare, tourism, food processing, and technology. With a vision for sustainable growth, our investments are not only shaping economic progress but also addressing global challenges— enhancing healthcare access, strengthening food security, driving technological innovation, and fostering resilient economies worldwide,” Marri, who was leading a 22-member delegation at the event, told the media.

    On Saturday, UAE-based shipping and logistics major Sharaf Group announced that it will invest Rs 5,000 crore in Kerala.

    Interestingly, in a tribute to the UAE’s 2025 theme, the ‘Year of Community,’ the North Malabar Chamber of Commerce hosted the ‘Year of Community Run’ on Sunday to strengthen ties between the two countries. It was organised as part of the 8th edition of the Kannur Beach Run, celebrating the message of inclusivity, well-being, and global togetherness.

    Marri participated in the 5-kilometer run alongside Shamsheer Vayalil, chairman and managing director of UAE-based VPS Healthcare, and over 100 participants.

    “We are honoured to have the minister join us for this special event. His presence has elevated the theme and spirit of the ‘Year of Community Run.’ We hope such initiatives will continue to strengthen community-driven efforts between both countries and inspire greater awareness around sports, wellness, and social engagement,” said the organisers.

    The Kannur Beach Run 2025, organised by the North Malabar Chamber of Commerce, lived up to its reputation as one of Kerala’s premier running events, drawing over 1,000 participants across multiple race categories.

    The event also saw the participation of six elite Ethiopian runners. Business Standard

  • Hope Health Care and Diagnostic Lab launched in Nagaland’s Chümoukedima 

    Hope Health Care and Diagnostic Lab launched in Nagaland’s Chümoukedima 

    Hope Health Care and Diagnostic Lab, launched by Finding Hope, India in partnership with Finding Hope Global, was officially inaugurated by Mhathung Yanthan, MLA and Advisor to the Department of Agriculture, at the Multipurpose Educational Centre in Naga United Village, Chümoukedima on February 22.

    The new Health Care Diagnostic Lab, a collaboration between Finding Hope India and Finding Hope Global, aims to serve the underserved and marginalized communities by offering up to a 60% discount on diagnostic tests.

    In his address, Advisor Mhathung Yanthan expressed his gratitude to Finding Hope Global and Yanren Kikon for bringing such a meaningful initiative to Nagaland. He marked the event as the beginning of a new era of service, healing, and transformation. He also highlighted the Chief Minister’s Health Insurance Scheme and the Ayushman Health Scheme as vital components of the state’s efforts to improve healthcare.

    Yanren Kikon, Director of Finding Hope, India, shared the inspiration behind the initiative. He recalled waiting anxiously for his wife’s treatment in a hospital and how it fuelled his desire to create a facility that would offer hope to others in similar situations. The lab, he hopes, will be a place of healing and transformation for the community.

    Dr Nathan Merril of Finding Hope Global also spoke about his inspiration for the initiative, which began with his wife’s desire to create a home for orphans and abandoned children. Officially launched in the USA in 2016, the organization has since expanded to Romania, Brazil and now India.

    Rev Dr Ruokuovillie Sachu, who also led the program, delivered the vote of thanks. The event concluded with a benediction by Kuhusheyi Chotso, Pastor of Naga United Village Baptist Church.

    The programme began with an opening prayer by Yanbemo Ovung, Associate Pastor of LBCD, followed by a welcome address by Abalu Kikon. A special performance was given by Thunglamo Ngullie, and the closing prayer was offered by Pastor Kuhusheyi Chotso. Morung Express

  • Apollo Hospitals eyes Indonesia, Sri Lanka, Middle East to make up for Bangladesh setback 

    Apollo Hospitals eyes Indonesia, Sri Lanka, Middle East to make up for Bangladesh setback 

    In view of the drop in patient footfall from Bangladesh due to the political turmoil that gripped the country, Apollo Hospitals Enterprise Ltd (AHEL) is looking at different overseas markets to support growth. The firm has its eyes on Indonesia, Iraq, Iran, Sri Lanka, Middle East and Africa, among others.

    According to Dr Sangita Reddy, Joint Managing Director, AHEL, tapping into these new markets is “likely to make up” or off-set the impact of lower footfalls from Bangladesh, over a three-month period or so.

    “There is Fiji… we’re focusing on Africa including Guyana of course; we’re also seeing a significant increase in other markets. Bangladesh (political turmoil) has affected us, and we hope that the situation will ease out. And those numbers will come back,” she told businessline on the sidelines of the International Health Dialogue.

    “We may have a three-month lag, but we will make up (through focus on new markets),” Reddy added.

    Hospital chains in India are known to charge a premium for foreign patientsn, which vary in the 15-20 per cent-odd range. Hence, a drop in patient footfall from Bangladesh, one of the largest markets, has impacted earnings.

    Other countries
    The company top-brass in their earnings call said, revenue from international patients other than Bangladesh rose by 19 per cent year-on-year.

    According to Reddy, India has a large population and Apollo will continue to serve whoever needs them.

    The company has a ₹6,000-crore-odd expansion plan underway that includes an addition of nearly 3,000-odd beds (capex for each bed being in the ₹2-crore range) over a five-year period. And, nearly 50 per cent of capacity is expected to be operationalised over the next three years. Some of the key cities being tapped include Hyderabad, Chennai, Gurugram, Mumbai, Bengaluru, among others.

    Expansion mode
    With new facilities coming up, Apollo is expecting occupancy rates to be in the 72-73 per cent range over a 12-24-month period. Currently, occupancies are at 68 per cent.

    “… by then, we would have found some level of replacement for the Bangladesh revenues and volumes, in terms of other foreign markets,” the company top brass had said during the call. Most patients from Bangladesh were coming to Chennai and Tamil Nadu, which is why the impact on Chennai is an almost a 3-plus per cent.

    For the quarter ending December 31, 2024, AHEL reported a consolidated revenue or ₹5,527 crore, up by 14 per cent y-o-y, and a consolidated EBITDA stood at ₹762 crore, up 24 per cent y-o-y. The Hindu Business Line

  • India calls for global healthcare collaboration 

    India calls for global healthcare collaboration 

    External Affairs Minister S Jaishankar on Saturday emphasised the importance of global healthcare collaboration, stating that healthcare is a fundamental right, not just a privilege.

    Addressing the 12th International Health Dialogue conference, Jaishankar highlighted India’s efforts in promoting healthcare as a fundamental right, citing initiatives like the Ayushman Bharat program, which provides health insurance to millions of citizens while addressing the gathering at a session titled ‘Global Changemakers – Transformation in Patient Safety’.

    “In this day and age, health care is a fundamental right. It’s not just a privilege. The global south cannot be a hostage to uncertain supply chains and the vagaries of the global economy. The Covid period was a real learning experience for all of us,” said Jaishankar.

    Jaishankar also stressed the need for international partnerships to strengthen healthcare systems, enhance patient safety, and ensure affordable access.

    “We must be prepared for the next challenge. All of us want to strengthen healthcare systems, enhance patient safety, and ensure affordable access. These goals would be better achieved if we collaborate more closely. And to the world, therefore, my message would be of the importance of international partnerships,” said Jaishankar.

    The EAM said that a lot that India contributes is through its own progress and example, highlighting the fact that India promoted the International Day of Yoga, the Lifestyle for Environment Initiative – LIFE Initiative, and more nutritious practices, such as the consumption of millets.

    Jaishankar also gave the example of Ayushman Bharat Initiative, Aabha IDs, Jan Aushadi Kendras and the power of digital public infrastructure.

    “The Ayushman Bharat Initiative, as you would have heard from other speakers, is today the world’s largest government health insurance. About 750 million of our citizens have received Aabha IDs, and they have access to 360,000 healthcare facilities and 570,000 healthcare professionals. To do this on such a scale at our level of per capita income is actually a testimony to the power of digital public infrastructure. And that, in turn, reflects the deep commitment to good governance of the Modi government. For many citizens, the cost of medicines required for the treatment of chronic ailments is also a particular anxiety. Here, too, we have demonstrated through the 14,000 Jan Aushadi Kendras, the people’s pharmacy, that caring policies and smart inventory management can bring down the cost of medicines for a common person,” said Jaishankar.

    Furthermore, Jaishankar emphasized the importance of traditional medicine, highlighting India’s efforts to promote Ayurveda and other traditional practices.

    “As we seek to balance tradition and technology as the twin forces of national progress, it is also natural that we will explore the relevance of our own heritage and culture to the health of our people, and by the way, encourage other societies in a similar position to do so. Especially during the Covid period, there was a sharper realization of the utility and efficacy of traditional medicine to preventive healthcare recovery and wellness. India has the privilege to host the WHO Global Centre of Traditional Medicine in Gujarat. As a government which created a department called AYUSH to promote these very practices and treatments,” said Jaishankar.

    He noted that India has been actively promoting medical value travel through the “Heal In India” initiative, making it easier for foreign patients to receive treatment in India.

    “Through the ‘Heal In India’ initiative, our government is committed to promoting medical value, travel, and making it easier for foreign patients to obtain treatment in India,” said Jaishankar.

    Emphasising the importance of medical partnership in both the global south and north, the External Affairs Minister said there was an acute shortage of doctors, nurses, and health workers in the global north as well, including North America, Europe, and Japan.

    “It’s not just the global south which requires a stronger medical partnership, so does the global north. There is an acute shortage of doctors, nurses, and health workers in a very large number of countries in the global north, in North America, Europe, Japan, and the Far East. When we negotiate mobility partnerships today, one driver of this is actually to help them address their growing health needs, which obviously has to take into account an ageing population,” he said.

    Jaishankar also mentioned India’s contribution to global healthcare, including the dispatch of medical supplies to countries in need and the training of medical professionals in Africa.

    “Recently, we dispatched 66.5 tons of medical supplies to deal with the humanitarian crisis in Gaza. A little before that, a consignment of 1400 kg of anti-cancer medicines was sent to strengthen the medical capabilities of hospitals in Syria. Even in Afghanistan, India has stepped forward with 300 tons of medicines in the last few years, as well as the dispatch of specialists to a hospital that we had built in Kabul,” he added.

    The EAM further underscored the importance of Covid experience which was a reminder to many nations to develop national capacities in this crucial domain. He gave example of e-Arogya Bharti initiative where the Indian companies, as well as the Indian government sought to localize production and strengthen capabilities.

    “One of our significant efforts in this direction has been the e-Arogya Bharti initiative to train medical students and paramedics in Africa through online classes. By diversifying the production of medicines and expanding the scale of medical professionals, we are strengthening the ability of the Global South to address its core concerns,” said Jaishankar.

    In fact, India’s digital health initiatives, such as the Ayushman Bharat Digital Mission, have shown promising results in improving healthcare access and outcomes. The country’s experience in leveraging technology to strengthen healthcare systems could serve as a valuable lesson for other nations.

    “India today has delivered more than 600 significant development projects in 78 nations across the world. Now, many of them are in the health sector. In parallel, the private health industry of India has also contributed to facilities and capacities in different geographies and I want to say today that we value this industry as a partner. From speciality hospitals to primary health centres, we have sought to make a difference across a wide spectrum,” added Jaishankar.

    Jaishankar’s call for global healthcare collaboration comes at a time when the world is facing numerous health challenges. As India continues to play a significant role in promoting global healthcare, Jaishankar’s emphasis on international partnerships and collaboration is a timely reminder of the need for collective action to address the world’s health challenges.

    “A large number of developing nations received made in-India vaccine (Covid) either through our ‘Vaccine Maitri’ initiative, or other global programs. Now, this was in contrast to many developed countries that had stockpiled vaccines to the multiples of their population. Indian medical teams also went out in the Indian Ocean region to deal with pressing situations in some smaller countries. But this was not just an exception made during the Covid era. In fact, it is part of our approach to the world both before and after,” said Jaishankar. ANI

  • Boston Scientific announces pricing of senior notes

    Boston Scientific Corporation announced that American Medical Systems Europe B.V. (“AMS Europe”), its wholly owned finance subsidiary, has priced a public offering of €850,000,000 aggregate principal amount of 3.000% notes due 2031 and €650,000,000 aggregate principal amount of 3.250% notes due 2034 (collectively, the “Notes”). The Notes will be fully and unconditionally guaranteed by the Company. The offering is being made pursuant to a registration statement filed with the U.S. Securities and Exchange Commission.

    The offering is expected to close on February 26, 2025, subject to customary closing conditions. The Company intends to use the net proceeds from the offering, together with cash on hand, to fund the repayment at maturity of AMS Europe’s 0.750% senior notes due March 8, 2025 and to pay accrued and unpaid interest with respect to such notes, and for general corporate purposes, which may include, among other things, short term investments, reduction of short term debt, funding of working capital and potential future acquisitions.
    NewsBit Bureau