Trivitron and Aloka sign JV
Trivitron group of companies, the largest Indian medical technology company and Aloka, the innovators in Ultrasound technology from Japan recently announced their joint venture agreement to manufacture cost effective, High Technology Ultrasound equipment in India to suit the needs of the developing countries. The Joint Venture will embark on an Initial investment of about 50 crores by both the companies followed by further investments in due course.
The investment pooled in by the two companies will be used for acquiring necessary Capital, Equipment and Infrastructure for setting up the manufacturing unit. Trivitron will additionally extend its current distribution network in India for Sales Application and Engineering support for the new products. Apart from meeting the needs of the Indian Market, the products manufactured by the JV will be exported to several developing/developed countries across the world.
As the part of the deal Aloka will also bring in their patented Technology for manufacturing Ultrasound Systems, Ultrasound Probes and related Ultrasound Accessories. The Training requirements for the manufacturing unit will be met through special training sessions provided in Japan and day to day supervision by Senior Japanese Engineers, based in India. Aloka is also planning to use Premier Institutions in India as Clinical Research and Product Development Sites for bringing the new innovative Ultrasound Systems in the years to come.
India currently meets over 90% of its medical equipments requirements through imports; But with the recent growth areas such as Electronics Manufacturing, Biotechnology Manufacturing, Mechanical Components Manufacturing, Pharma Manufacturing India can soon be the hub for indigenous medical technology. The Current market for Ultrasound equipments in India is around 500 Crores and is growing at an average CAGR of 20% per annum.
Trivitron MD receives Rajiv Gandhi Shiromani Award, 2007
In recognition for his outstanding contribution in the field of Diagnostic and Health care industry in India Dr. GSK Velu, Managing Director, Trivitron group of companies has been conferred with the 'Rajiv Gandhi Shiromani Award,2007'.
The award was presented on the occasion of 63rd birth anniversary of the former Prime Minister late Rajiv Gandhi, to select individuals of the country in recognition of their outstanding contributions and achievements in the fields of industry, business and public life, administrative, social, educational and cultural services.
Dr.Velu, a Bio Medical Engineering Scholar from 'BITS', Pilani, acquired MBA from top Management school 'Loyola Institute of Business Administration', Chennai, and a Doctorate in Pharmacology, from IBAM, Kolkata.
He is also the recipient of the “Entrepreneur of the Year Award” given by Frost & Sullivan, Modern Medicare and GE Health Care for his remarkable achievements in the successful functioning of the Organization.
Fortis ventures into South India
The Fortis group recently announced their decision to buy 48% stake in Chennai-based Malar Hospital for around Rs 42 crore. This move will mark the group's first entry in South India.
At present, Fortis has a network of 12 hospitals primarily in the north, and 16 satellite and heart command centres.
The acquisition will be through International Hospital Ltd, a wholly-owned subsidiary of Fortis, and group company Oscar Investments Ltd (OIL). In the first phase, International Hospital Ltd will buy the promoters holding of 28% at Rs 30 per share. The total equity of the company is Rs 1.39 crore.
Additionally, International Hospital along with Oscar Investments will inject Rs 14 crore as loan, which will be converted into 25% equity, subject to approval by Malar shareholders. OIL will acquire approximately 7% (of the expanded equity capital), while International Hospital will have 18%. Post conversion, International Hospital will hold 23% and an additional 18% equity, and another 7% held by Oil, taking up the total equity to nearly 48%. The acquisition will be funded through internal accruals and debt.
IHL and OIL would make an open offer to the shareholders of Malar Hospitals, as per the Securities and Excahnge Board of India guidelines.
Malar Hospital with 180 beds is a multi-speciality hospital focusing on comprehensive medical care, says a company statement.
Fortis plans to increase its capacity to 40 hospitals and 6,000 beds by 2010, from the existing 12 hospitals and 2200 beds.
Indian Govt planning workplace health policy for IT professionals
A growing number of young IT professionals in India are seen to be suffering from lifestyle diseases. Keeping this in view the government is planning a workplace health policy for those working in this sector.
Discussing this issue, Union Minister of Health and Family Welfare, Anbumani Ramadoss recently said he would soon be meeting with IT Minister, A. Raja on this matter. They intend to soon organise a conference to be attended by members of the IT industry, where they will form an IT-related workplace health policy. The conference would be either held in Chennai or Bangalore. Expressing concern over people suffering from cardiac problems, strokes and mental disorders, as early as 25 and 26, he said such people face a lot of work-related stress and peer pressure.
Swedish business bullish on investment, JV opportunities in India
A Swedish industry delegation led by the country's trade commissioner Fredrik Fexe, and representing some 20 top companies in various sectors including healthcare recently visited India scouting for partners.
The trade commissioner has been quoted as saying that more than 100 companies from Sweden are now interested to invest in India in the next three to four years. Anticipating the current round of talks to result in an investment of 150 million (Rs840 crore),including new manufacturing plants by companies such as Atlas Copco India Ltd, SKF India Ltd, and Huntleigh Healthcare India Pvt. Ltd, already present in India; India is the world's second fastest growing major economy after China.
Sweden's ambassador to India Lars-Olof Lindgren said last week that the trade between his country and India was at an all-time high now at some $1.8 billion: exports to India worth $1.4 billion and the rest in imports from here.
The Swedish industry is dominated by firms in information technology and telecom services, construction, chemical industry and automotive industry.
Country to have first mobile mammography unit soon
The Indian Space Research Organisation (ISRO) and Sir Ganga Ram Hospital, will connect the hospital's cancer specialists to patients in rural areas, by providing the country its first mobile mammography service (to be launched soon) in a bid to provide medical aid to breast cancer patients in far-flung rural areas.
Built at a cost of Rs 17 lakh and mounted on a truck, the mobile unit comprises a di-com compatible mammography system that will convert film into digital format before transmitting it to a base unit at the hospital. ISRO has agreed to provide a free satellite link for the mobile unit.
According to the National Cancer Registry Programme 2004, breast cancer is the predominant type of cancer in women in India, and lately an increasing number of women in rural areas are reporting this type of cancer.
RIL plans Rs 25k cr healthcare initiative over 7-8 yrs
According to sources, Reliance Industries (RIL) plans a Rs 25,000 crore healthcare initiative over 7-8 years. The healthcare initiative will integrate with Reliance Retail foray.
This is one of the biggest plans that RIL has formulated on the lines of its retail foray, as it plans to set up 1,500 healthcare units in B, C towns.
A pilot project, is already under implementation at Jalandhar and will be replicated at all the existing primary healthcare centres of the government, which probably don't give the right kind of service that is needed to service the healthcare needs of the rural population.
Over the next 7-8 years, the plan is to invest up to Rs 25,000 crore in rural healthcare population. McKinsey had earlier predicted that by 2015 the Indian healthcare market itself will become USD 20 billion, probably Reliance will play a massive role in getting to that figure.
New Delhi's First Full-fledged Nursing college
The Union Minister of Health and Family Welfare Dr Anbumani Ramadoss recently inaugurated New Delhi's first ever college of nursing at the Lady Hardinge Medical College. Affiliated to Delhi University, the college is recognised by the Indian Nursing college.
A training school for nurses was started at LHMC back in 1916, and the services have been upgraded since then, to a college to improve the quality of nursing services as also to train more graduate nurses. Fifty students have already enrolled in the first batch. To overcome the shortage of nurses in the country, government has earmarked Rs 319 crores for the upgradation and development of nursing services in the 11th Five Year Plan. The country needs another million nurses to cater to its population.
The minister said two more nursing colleges, are in the offing for the Capital, nursing schools at Ram Manohar Lohia (RML) and Safdarjung hospitals are soon to be revamped and upgraded into colleges. And more will come up in Mumbai, Chennai and Kolkata.
Union Health Secretary, Naresh Dayal, also present at the inauguration said the role of nurses has become highly specialised and upgrading their services is on top of the ministries agenda.
Intel World Ahead Program
Marking a new phase of Intel's World Ahead Program, an alliance of 16 companies has formed to expand Intel's efforts to provide people in developing countries with the benefits of technology.
At a recent press conference, Intel chairman Craig Barrett announced the formation of the World Ahead Alliance in India. The alliance pledges to apply techonolgy to advance health, education and rural empowerment.
The World Ahead Alliance brings together 16 Indian organisations that have been influential in the results achieved during the early phases of the Intel World Ahead Program, including non-profits, education companies, hospitals and service and technology providers.
The members consist of Apollo, Comat Technologies, Fortis Healthcare, Karishma Software Limited, Manipal University, Narayana hrudalaya, NIIT Limited, Sankara Nethralaya, SN Informatics Private Limited among others.
With the Ministry for Health and Family Welfare of the government of India, Intel helped inaugurate two rural health projects in India this week, including a pilot program for remote diagnostics and screening at Tindivanam Taluk Hospital in Tamil Nadu.
Intel had earlier deployed its first remote health programs in a digital village pilot in Baramati, a small town about 120 kilometers from Pune. The pilot in Baramati attracted the attention of government and industry leaders, inspiring e-health projects that will be deployed across Tamil Nadu and the country. The projects include a tele-health program for community hospitals and a school health-monitoring system.
Mr. Barrett was also slated to visit China, Africa, the Middle East and Latin America to explore how digital inclusion programs are taking root and creating life changing opportunities.