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The closure of a hospital ward is among the “real-world impacts” of the difficulties facing a hospital trust in “financial special measures”, its chief executive has told a board meeting.

Lancashire Teaching Hospitals NHS Foundation Trust (LTH) which runs Chorley and South Ribble Hospital is funded by the Lancashire and South Cumbria Integrated Care Board (ICB).

The ICB has to make more than £530m in efficiency savings this financial year.

Staff on the Cuerden ward at the Chorley hospital were told last month the 24-bed facility, which is less than three years old, would shut at the end of March.

The Cuerden ward building opened in July 2022 to provide additional space for diabetes, endocrinology and other general medical patients, the Local Democracy Reporting Service said.

Confirming the closure last month, LTH said it was part of the process of “flexing” how many beds were open according to demand, which is greatest during the winter.

However, Silas Nicholls, LTH boss acknowledged at a board meeting on Thursday the “difficult decision” also had its roots in the budgetary pressure the trust is under.

Just days earlier LTH had been placed by NHS England into the equivalent of financial special measures officially known as NHS oversight framework segment 4 along with East Lancashire Hospitals Trust, Blackpool Teaching Hospitals NHS Foundation Trust and the overarching ICB.

All of those organisations will now receive “intensive support” to recover their financial positions.

‘Avoid redundancies’
Referring to the Cuerden ward closure, Mr Nicholls said it was also the result of the fact the facility had initially been funded by additional money pumped into the NHS to deal with Covid pressures earlier in the pandemic.

One of its initial uses was to assist with patient flow through the hospital system and provide beds for those close to being discharged.

He told board members “good progress” was being made in attempts to avoid redundancies and redeploy staff in the wake of the ward closing.

“We are working to make sure that no staff lose their jobs over this,” he said.

Mr Nicholls said the aim was to repurpose the modular-designed building for another use, rather than leave it vacant. BBC

EMA, in close collaboration with the European Commission, has established a standard procedure for manufacturers of certain high-risk medical devices to request scientific advice on their intended clinical development strategy and proposals for clinical investigation.

Manufacturers of class III devices and class IIb active devices intended to administer or remove medicines can now submit their request for advice via a portal and consult the medical device expert panels at different stages of the clinical development.

Advice given by the medical device expert panels is a key tool to foster innovation and promote faster patient access to safer and more effective devices.

This regular scientific advice procedure follows a pilot launched in February 2023, which has helped to establish this procedure and gathered positive feedback from manufacturers and panel experts. EMA will publish a report on the pilot in the coming weeks.

There are currently no fees associated with these requests.

More information on the submission process, including step-by-step instructions for applicants and monthly submission deadlines is available on EMA’s website.

Manufacturers of high-risk medical devices intended for the treatment of a rare condition should apply for advice via the ongoing pilot programme to support orphan medical devices. European Medicines Agency

Indian Prime Minister Narendra Modi is preparing additional tariff cuts ahead of a meeting this week with US President Donald Trump that could boost American exports to India and avoid a potential trade war, government officials said.

Trump’s top economic adviser Kevin Hassett said on Monday that India has high tariffs that lock out imports and Modi would have a lot to discuss with Trump when the two leaders meet.

As well as tariff cuts, Modi is expected to propose increased energy and defence imports during a two-day US visit from Wednesday.

Trump said on Sunday he plans announce new 25% tariffs on all steel and aluminum imports into the US on Monday, on top of existing metals duties, and reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately.

He has previously called India a “very big abuser” on trade.

Trump believes the United States should impose reciprocal tariffs that are at least equal to those imposed by other countries, Hassett said in an interview with CNBC, adding, “If they go down, we’ll go down.”

India is considering tariff cuts in at least a dozen sectors, from electronics to medical and surgical equipment, and chemicals, to boost US exports in line with New Delhi’s domestic production plans, three government officials said.

The officials spoke on condition of anonymity as they were not authorised to speak to the media.

India’s trade and foreign ministries, and the prime minister’s office, did not respond to requests for comment.

India is in talks with the United States for the purchase and co-production of combat vehicles as well as finalising a fighter jet engine deal, people familiar with the matter said. Trump asked Modi in a call last month to buy more US-made security equipment and move “toward a fair trading relationship”.

In a statement on Monday, Modi said, “This visit will be an opportunity to build upon the successes of our collaboration in his (Trump’s) first term.”

He added that technology, trade, defence, energy, and supply chain resilience were areas in which the partnership could be elevated and deepened.

Trade ties between the two nations have grown steadily over the last decade, with Washington increasingly viewing New Delhi as a counterbalance to China’s growing regional influence.

The Indian government officials said concessions were being considered on items that India primarily sources from the United States or has more potential appetite to buy, such as dish antennas and wood pulp.

Two-way trade exceeded $118 billion in fiscal 2023-2024, with India posting a surplus of $32 billion.

Mini-trade deal
As well as discussing tariffs with Trump, India is open to discussing a possible mini trade deal, two government officials said.

Modi’s early visit aims to avoid a “trade war-like situation that is happening between the United States and China,” a third official said.

The meeting has been overshadowed by the recent deportation of Indians from the United States.

Trump has already slapped sweeping tariffs of 10% on imports from China, spurring Beijing to respond with duties on American energy.

India’s budget this month cut average import tariff rates to 11% from 13% on several items, besides reducing taxes on high-end bikes and luxury cars. India is also reviewing surcharges on more than 30 items, including luxury cars and solar cells.

Nearly a fifth of India’s exports of engineering goods — comprising steel and aluminum and worth about $25 billion — are at risk if Trump adopts the proposed 25% tariff, an official of an industry body said.

“We are in a wait-and-watch mode and hope the issue can be amicably resolved during Prime Minister Narendra Modi’s visit,” the official said, speaking on condition of anonymity as the matter is a sensitive one.

Metals stocks led losses in Indian shares after news of Trump’s tariff plans on steel and aluminium. India’s benchmark indexes fell 0.8%, with the metals index dropping 3%. Reuters

If everything falls into place, India’s healthcare sector could be in for a significant round of growth from new investments and favourable government policies find their mark.

Over the last week, both the central budget announced by India’s Finance Minister Nirmala Sitharaman and the Kerala state budget placed special emphasis – and more important, government backing – to get more from medical tourism.

It wasn’t just coincidence that healthcare sector and medical tourism found prominent mentions in both budgets. And more Indian states could be lining up their own policy shifts in attracting healthcare sector funding.

According to Dr Azad Moopen, founder and Chairman of Aster DM healthcare, “For investors—both domestic and NRI—this moment presents a wealth of opportunities. The Indian government’s decision to ease visa norms for medical tourism is a game-changer, especially for a state such as Kerala.

“India’s positioning as a global healthcare destination opens up vast potential for investment.”

Dr Moopen’s India operations is going through a potential merger deal with Quality Care, a hospital operator with a sizeable presence in northern India.

Sources say this year could see more GCC based institutional funding going into healthcare operators in India, even those who have their strengths outside of the metropolises. Andhra and Telangana are rated as high potential as are Uttar Pradesh and Maharashtra.

Budget speak
This is what Sitharaman had to say during the budget speech: “Medical tourism and ‘Heal in India’ (initiative) will be promoted in partnership with the private sector along with capacity building and easier visa norms.”

As while presenting the 2025-26 Kerala budget, the state’s Finance Minister K. N. Balagopal confirmed plans to set aside up to Rs500 million in further expanding health tourism. “The (Kerala) state government will hold a global level campaign to feature the health tourism potential of Kerala,” he added, for good measure.

Now, if these proposals turn into actual action plans, then India’s healthcare sector and allied areas could be in for a sustained growth run. “India can offer one of the most cost-effective medical consultations and hospital facilities in the world,” said the owner of a healthcare company in the Gulf. “There are GCC investors wanting to partner Indian companies to develop all such possibilities.

“It’s good the Indian government is talking about developing medical tourism. If policies don’t come through, India will waste opportunities in healthcare.”

Need more investments in Indian healthcare – and fast
That sentiment about offering cost-effective services resonates loud.

In 2024, foreign investments into Indian healthcare rose to $1.5 billion, with nearly half of this going into hospitals. This compares to 24% as healthcare FDI in FY21 and 43% in FY20.

Plus, investors are getting their rewards from putting money into healthcare stocks.

“These last 12 months, the Indian healthcare space has rewarded investors decently,” said Milan Vaishnav of ChartWizard. “While the NSE Healthcare Index has returned 20.81% over the past year, the BSE Healthcare index returned 23.95%.”

Market sources say the $1.5 billion in foreign direct investment is just a glimpse of the kind of potential India’s healthcare sector offers. “There are existing hospitals that could do much better with new investments or global partners,” said an official with a healthcare fund operator.

Kerala is well placed
According to Dr Moopen, new policies such as easier visa processing will ‘strengthen Kerala’s position as a leading medical tourism hub while also boosting local businesses, hospitality, and allied services. “For Aster, which already caters to a large number of international patients, this is a significant opportunity to expand beyond Middle East and tap into new markets.” Gulf News

Leader of the Opposition (LoP) in the Punjab Assembly Partap Singh Bajwa on Thursday accused the Aam Aadmi Party-led Punjab Government of misusing funds under the Ayushman Bharat scheme.

It has been more than four months since the Punjab and Haryana High Court asked the AAP Government to furnish details of the expenses incurred on advertising and purchase of new vehicles. However, the state government has failed to comply with the directions. The high Court was hearing a petition about the non-release of funds under the Ayushman Bharat scheme.

“There are fair chances that the AAP Government misused the funds. Instead of clearing the dues of over Rs 500 crores of the private hospitals registered under the Ayushman Bharat scheme, the government misutilised the funds perhaps on other things, including advertisements, purchasing new vehicles and renovation of the houses of ministers and MLAs,” Bajwa added.

Senior Congress Leader Bajwa said the private hospitals in the state suspended treatment of Ayushman card holders, claiming that their dues were not cleared by the state government.

Under this scheme, cashless and paperless treatment is available at government and empanelled private hospitals. Initially, 16.65 lakh families were covered under the Union Government’s programme. But in 2022, the then Congress government decided to extend the scheme to families of farmers and those who were not covered under any health scheme, thereby adding 22.12 lakh more beneficiary families.

“By not clearing the dues of hospitals, the AAP Government’s anti-poor face has been exposed. Meanwhile, the government is reluctant to provide details how the funds had been spent. The government seems to have a lot to hide,” Bajwa said. The Tribune

Chandan Healthcare Ltd. launched its public offer on Monday to mop up Rs 107.36 crore from investors in the primary markets. The company which operates diagnostic centres has branches located in multiple cities in North India. On the opening day of Chandan Healthcare SME IPO, here is what investors must know about the offer, price band, GMP and other details.

Chandan Healthcare IPO: Key details
The Chandan Healthcare IPO consists of a fresh issue of 44.52 lakh shares worth Rs 70.79 crore and an offer for sale of 23 lakh shares aggregating to Rs 36.57 crore.

The NSE SME IPO will remain open for bidding from Feb. 10 to Feb. 12.

Share allotment for the IPO is likely to be done on Thursday, Feb. 13. Successful bidders will receive credit of shares to their demat accounts on Friday, Feb 14, while refunds will be issued to the unsuccessful ones on the same day.

Shares of Chandan Healthcare are likely to be listed on the NSE SME platform Emerge on Monday, Feb. 17.

The company has reserved 50% of the net issue for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.

Chandan Healthcare IPO price band has been set at Rs 151 to Rs 159 per share. A single lot of the IPO comprises 800 shares, taking the minimum investment amount for retail investors to Rs 1,27,200.

KFin Technologies Ltd. is the registrar for the Chandan Healthcare IPO, while Unistone Capital Pvt. has been appointed as its book-running lead manager. RK Stock Holding Pvt. is the market maker for the issue.

Chandan Healthcare IPO: Day 1 subscription status
Chandan Healthcare IPO has been subscribed 0.13 times as of 4:10 p.m. on Monday, as per market tracking site Chittorgarh:

• Qualified Institutional Buyers: nil
• Non-Institutional Investors: 0.07 times
• Retail Investors: 0.24 times

Chandan Healthcare IPO GMP today
Chandan Healthcare IPO GMP (grey market premium) was Rs 10 apiece as of 2:37 p.m. on Feb. 10, according to InvestorGain. This indicates a listing gain of 6.29%, with the shares expected to debut on NSE SME at Rs 169 apiece given that the current trends are sustained. NDTV Profit