Global non-profit health body Population Services International (PSI) today launched its "for profit" business which will operate as a separate commercial entity and manage procurement and distribution of its health care products including contraceptives.
"PSI announced the launch of a for-profit business designed to complement its ongoing non-profit work. In a move to financially strengthen business operations amid a changing funding landscape for NGOs, the enterprise will operate as a separate commercial entity...," it said in a statement.
The new entity "will manage the procurement, distribution and marketing of PSI's healthcare portfolio which will include provision of contraceptives priced competitively to increase the basket of choices women have for family planning products and towards strengthening its work to improve child survival through ORS and Zinc supplements".
PSI is known for its products like Pearl-Oral Contraceptive Pills, Freedom 5 and others.
"India is changing, demographically and economically. While healthcare services have been made far more affordable and accessible to people in rural areas in the last 10 years, gaps and challenges in the infrastructure, service delivery, still persist.
"In its pursuit of equitable economic development, India's vision of achieving the recently announced Sustainable Development Goals (SDGs) is full of opportunity for entrepreneurs. This makes India the most promising for social enterprises which are innovative, risk averse and are driven by long term commitment to the underserved," said Ambassador Karl Hofmann, CEO PSI.
Under its new arm, PSI India will introduce a range of new, fast-moving consumer health products through chemists, and pharmaceutical segment through providers.
"The development marks the journey of new possibilities for NGOs in India to bring shared value and impact in social development through innovation and entrepreneurship," said Shankar Narayanan, MD PSI India Private Limited.
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