Page 4 - Healthcare Sector

Madhu Sasidhar appointed as president & CEO of Apollo's hospital division

Prior to joining Apollo, Sasidhar held various roles at Cleveland Clinic, including President of Cleveland Clinic Tradition Hospital

Engrail Therapeutics closes oversubscribed $157 million Series B financing

Funding from the Series B round will propel the advancement of the company's pipeline through multiple stages of clinical development

Healthtech unicorn Pristyn Care lays off 120 employees, eyes profitability

This is the second time the firm has laid off employees. Pristyn had, in March last year, reportedly laid off 45 employees due to poor performance

Scientists sequence 10,000 genomes of Indian population for database

Scientists on Tuesday announced that they have sequenced genomes of 10,000 Indians from diverse communities to create a database that could lead to gene-based remedies, with Union Science and Technology Minister Jitendra Singh calling it a watershed moment for science in India. Addressing a function in the national capital, Singh said genome study or sequencing is going to determine the future healthcare strategies across the world, both therapeutically and prophylactically. He said there is a pressing need for finding Indian solutions to Indian problems as the country emerges as a frontline nation in the comity of scientifically-advanced countries. Singh lauded the Department of Biotechnology for the ambitious goal to identify and catalogue the genetic variations of diverse Indian populations by sequencing the whole genome of 10,000 healthy individuals from 99 communities, representing all major linguistic and social groups, across the country. The Indian population of 1.3 billion

Zydus Lifesciences gets WHO nod for API used in kala-azar treatment

More than 1 billion people live in areas endemic for leishmaniasis or Kala Azar and are at risk of infection

Marlabs to hire 500 people in India, aiming to double revenue in 3 years

India is its largest talent hub; comprises 75% of company's total workforce

Healthcare firm Abridge secures $150 mn to develop AI model for clinicians

Shiv Rao, CEO of Abridge and also a practicing cardiologist, said the company plans to use the fresh funding for hiring as well as acquiring and training purpose-built medical AI models

Entero Healthcare Solutions shares slip 9% on stock market debut

Entero's weak listing follows a lukewarm response to its Rs 1,600-crore IPO. The maiden share sale had garnered just 1.5 times subscription

Yatharth Hospital to acquire Faridabad-based Fidelis hospital for Rs 116 cr

Yatharth Hospital added that the bed capacity will be expanded to 200 to 220 beds post acquisition

Max Healthcare acquires Nagpur-based Alexis Hospital for Rs 412 crore

Max Healthcare Institute on Friday said it has acquired Nagpur-based Alexis Multi-Speciality Hospital Pvt Ltd for Rs 412 crore. The 200-bed hospital is set up on a land parcel of 2-acre at Mankapur, north of Nagpur. The facility has potential to increase its bed capacity from 200 operational beds to 340 beds after necessary regulatory approvals. "The acquisition of Alexis Hospital is in line with our vision to expand our footprint in tier-2 cities with abundance of clinical talent and developed private healthcare infrastructure," Max Healthcare Institute Chairman and Managing Director Abhay Soi said. Alexis Hospital acquisition will strengthen company's presence in Maharashtra region, he added. Shares of Max Healthcare were trading at a loss of 0.42 per cent at Rs 866.4 apiece on the BSE.

Entero Healthcare garners Rs 716 cr from anchor investors, IPO opens

Healthcare products distributor Entero Healthcare Solutions has collected Rs 716 crore from anchor investors. The company has allotted a total of 56.95 lakh equity shares to 25 funds at Rs 1,258 a piece, which is also the upper end of the price band, according to a circular uploaded on BSE's website late on Thursday. The anchor book saw participation from investors, including the Capital Group, Government of Singapore, Monetary Authority of Singapore, Amundi Funds New Silk Road, Societe Generale, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, and Copthall Mauritius Investment Ltd. Additionally, Bajaj Allianz Life Insurance Company, SBI General Insurance, and Jupiter India Fund participated in the anchor round. The issue, with a price band of Rs 1,195-1,258 per share, opened for public subscription on Friday. It will close on February 13. The Rs 1,600 crore IPO is a combination of a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (

Entero Healthcare Solutions set to launch Rs 1,600-crore IPO on February 9

In FY23, Entero Healthcare reported Rs 33,00.20 crore in revenue from operations with a gross profit of Rs 268.34 crore

Thyrocare acquires Think Health Diagnostics, expands into home ECG services

With this strategic acquisition, Thyrocare will expand its footprint in the pre-policy medical check-up segment for the insurance market

Metropolis Healthcare Q3 results: PAT down 24% due to Chennai floods

On a sequential basis, the company exhibited a 5.63 per cent decline in revenue along with PAT, which declined by 23.41 per cent

Dr. Lal PathLabs Q3 results: Profit rises 54% to Rs 81.3 cr, revenue up 10%

The October-December quarter encompasses the tail end of the monsoon as well as winter, which brings with them ailments such as influenza and stomach flu

MSME hospitals in the pink of health; revenue, margins to remain healthy

Revenue and margins to remain healthy next financial year, too

Dr Reddy's Lab Q3 results: Net profit rises 11% on strong US, EU sales

For the Indian business in Q3 FY24, the revenue stood at Rs 1,180 crore Y-o-Y with a growth of 5 per cent and a sequential decline of 1 per cent

AI adoption in healthcare to create almost 3 mn jobs by 2028: Report

Demand will be for data scientists, developers and cybersecurity specialists, it says

High starting valuations dampen equity outlook in 2024: Neelesh Surana

Neelesh Surana expresses concerns over the quality of rally in certain smallcap pockets

Interim Budget 2024: What does the healthcare sector expect from Centre?

Interim budget 2024: Here's what the experts of the real estate sector expect from the Centre