Page 5 - Healthcare Sector

Cashless treatment facility to be available across hospitals, says GIC

Currently, only 63 per cent of customers avail cashless treatment, whereas the remaining 47 per cent opt for reimbursement claims

48% of healthcare, pharma firms to use Gen AI solutions in 1 year: Report

Nearly 48 per cent of healthcare and pharma companies surveyed are poised to integrate first-gen AI solutions within one year, an EY report said on Wednesday. The shift is, however, significant in the sector, which has been traditionally conservative in adopting digital technologies, it added. The findings also underline the growing appeal of this emerging technology that has made headlines with its promise of transforming industries. The EY report insights revealed that in healthcare, Gen AI holds the promise of benefiting every facet of the value chain, from clinical services to customer operations and branding. Similarly, in life sciences, the potential of Gen AI applications is poised to expedite the assimilation of cutting-edge technologies across the value chain. According to the report, 60 per cent of survey participants from the healthcare and life sciences sector believe Gen AI will have a significant impact on the entire value chain. "While 28 per cent of healthcare and

Aster DM Healthcare shareholders approve proposal to hive off Gulf biz

Hospital chain Aster DM Healthcare on Tuesday said its shareholders have approved the proposal to hive off its Gulf business in a deal valued at USD 1.01 billion. The proposed resolutions were passed with the requisite majority by shareholders on January 22, the company said in a regulatory filing. Over 99 per cent of the votes polled were in favour of the deal, it added. On November 28 last year, Aster DM Healthcare announced that it would separate its India and Gulf businesses by way of a deal worth over USD 1 billion. The company stated that it has received approval from its board and subsidiary Affinity Holdings Pvt Ltd to separate the India and GCC businesses into two distinct and standalone entities. Under the separation plan, Affinity entered into a definitive agreement with a consortium of investors led by Fajr Capital, a private equity firm headquartered in the UAE, to invest in Aster's GCC business. Upon completion, the separation of the India and GCC businesses will ..

Medi Assist Healthcare shares surge 11%; Nova Agritech IPO subscribed 9.7x

The initial public offering (IPO) of Nova Agritech garnered nearly 10 times subscription on Tuesday, the opening day of the issue. Most of the bids on the first day came from individual investors

Q3 result preview: US, India to aid revenue growth for Pharma Inc

In the healthcare segment, hospitals are expected to post revenue growth of 13 percent during the coverage, while the net profit growth would be around 37 percent, ICICI Securities said in a note

Murugappa Group's CSR subsidiary AMM Foundation completes 100 years

Established a century ago, the AMM Hospital, known locally as the 'oru ruba' (one rupee, which is the fee charged from patients) hospital, has been a beacon of quality healthcare for local community

Medi Assist healthcare IPO subscribed 54% on first day of bidding

Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners

Ahead of IPO, Medi Assist mobilises Rs 351 crore from anchor investors

The company has allotted 84.08 lakh equity shares to 36 funds at Rs 418 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website

Medi Assist Healthcare fixes price band for IPO at Rs 397- Rs 418

Bids for the offer can be made for a minimum of 35 equity shares and in multiples of 35 thereafter

Modi Group plans Rs 6,000 crore investment in the next five years

Modi Group, formerly known as BK Modi Group, is planning to invest Rs 6,000 crore in the next five years in two real estate projects, its founder Bhupendra Modi said on Friday. Modi Group will invest Rs 4,000 crore to develop a health city in Saket, Delhi, he said. Besides, the group has also committed to invest Rs 2,000 crore in city development projects at Modipur in Rampur District of Uttar Pradesh. "In the Saket project, it would be a city and hospital and other projects, and at Modipur, we would have city development, where we would build an entire city. Then we have some more place to invest in," Modi said on the sidelines of an event. The group is also investing Rs 2,000 crore outside the country, Modi said, declining to share any information about that. "This would be a total of Rs 8,000 crore, which is around USD one billion," he said, adding that the group has also a presence and business interests outside India. When asked about the funding, he said it would be a mix o

Sun Pharma Advanced Research freezes at 10% upper circuit; up 64% in 8 days

In the medium term, SPARC's pipeline has several inflexion points that can drive significant value for the company.

BDR Pharmaceuticals launches prostate cancer drug in oral solution form

BDR stated since BDENZA is in liquid form, they can't quantify how lower it is compared to its counterparts in the market as they are present in solid form (tablet/capsule)

As Covid-19 cases rise in India; should you keep pharma stocks on radar?

Barring Dr Lal Pathlabs, the other four healthcare related stocks listed below seem to be trapped in a range for now, charts suggest.

McKinsey agrees to $78 mn settlement with insurers over opioids crisis

Consulting firm McKinsey and Co. has agreed to pay USD 78 million to settle claims from insurers and health care funds that its work with drug companies helped fuel an opioid addiction crisis. The agreement was revealed late Friday in documents filed in federal court in San Francisco. The settlement must still be approved by a judge. Under the agreement, McKinsey would establish a fund to reimburse insurers, private benefit plans and others for some or all of their prescription opioid costs. The insurers argued that McKinsey worked with Purdue Pharma the maker of OxyContin to create and employ aggressive marketing and sales tactics to overcome doctors' reservations about the highly addictive drugs. Insurers said that forced them to pay for prescription opioids rather than safer, non-addictive and lower-cost drugs, including over-the-counter pain medication. They also had to pay for the opioid addiction treatment that followed. From 1999 to 2021, nearly 280,000 people in the US di

Nephrocare India raises Rs 8.08 crore in pre IPO round, eyes 300 clinics

Founded in 2014, Nephrocare India operates three kidney care clinics in West Bengal and a flagship holistic healthcare facility in Salt Lake, Kolkata

Kolkata-based Nephrocare India secures Rs 8.08cr in pre-IPO funding

Nephrocare India, a Kolkata-based comprehensive renal care institution, has raised Rs 8.08 crore in its pre-IPO round paving the way for its expansion plans, the company said on Friday. The funding saw participation from marquee investors, who include former HDFC chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and founder and MD of Macleods Pharmaceuticals Rajendra Agarwal, it said. The fresh infusion of capital will fuel Nephrocare India's target of establishing 22 high-end kidney care facilities across India by March 2026. Four centres are expected to be operational by the end of the current fiscal, the company said in a statement. Its long-term vision is to establish 300 Nephrocare centres across the country within the next 8-10 years. Highlighting the critical need for such expansion, company officials pointed out the vast demand for kidney care units in India, the statement said. With an estimated seven crore patients struggling with chronic kidney diseases and

Fresh capacity, investments may drive gains for Laurus Labs by FY25

Despite these cuts, the brokerage maintains a buy rating on the stock

Increase budget allocation on health to 2.5 pc of GDP: NATHEALTH

NATHEALTH-Healthcare Federation of India on Tuesday asked the government to increase budget allocation on health to 2.5 per cent of GDP while also calling for a restructuring of the healthcare GST framework. In its pre-Budget recommendations, NATHEALTH underlined the need for the government to embark on transformative measures that prioritise bolstering healthcare infrastructure and making strategic investments to overcome supply side constraints. "India's public healthcare spending remains low, at only around 1.6-1.8 per cent of GDP. These allocations are insufficient to tackle the magnitude of healthcare challenges," NATHEALTH said in a statement. It recommended "increasing budget allocation to 2.5 per cent of GDP to augment the social insurance schemes, boosting healthcare reforms and infrastructure and fast-tracking digital health services across India." On the need for rationalisation of GST for the healthcare sector, it said, "Although increased budget allocation has been a .

Reliance General Insurance launches new policy for overseas treatment

Reliance General Insurance Company Ltd (RGICL) on Saturday said it has launched a new policy to make global healthcare accessible to Indians. The policy, Reliance Health Global, provides comprehensive cover not only within the borders of India but across the world, RGICL said in a statement. The policy will cover expenses for overseas treatment, including critical illnesses like cancer and bypass surgery, it added. It also encompasses travel, accommodation, and end-to-end Visa and assistance services, addressing emergencies like lost passports or emergency cash, apart from sum-insured coverage of up to USD 1 million, the company said. The new product also offers benefits ranging from air ambulance to organ donor expenses with no restrictions on room rent. "As India globalises and a lot of Indians keep travelling abroad for work or leisure it's imperative to remove their pain of buying multiple policies separately for India and overseas," Reliance General Insurance CEO Rakesh Jain

Max Healthcare up 9% in one week post Lucknow-based Sahara Hospital buyout

On December 8, Max Healthcare said it entered into a share purchase agreement for acquisition of 550 bedded Sahara Hospital, Lucknow.