News Roundup

PM Modi unveils Ayushman Bharat Digital Mission

Prime Minister Narendra Modi launched the Ayushman Bharat Digital Mission through a video conference. Speaking on the occasion, the PM said that the campaign of strengthening health facilities that have been going for the last seven years is entering a new phase.

The Prime Minister said Ayushman Bharat – Digital Mission, will now connect the digital health solutions of hospitals across the country with each other. The mission will not only make the processes of hospitals simplified but also will increase ease of living, he added. Under this, every citizen will now get a digital health ID and their health record will be digitally protected.

The Prime Minister remarked that the Arogya Setu app helped a lot in preventing the spread of corona infection. He lauded Co-WIN for its role in making India achieve a record administration of about 90 crore vaccine doses today, under the free vaccine campaign.

Ayush Minister inaugurates OPD unit of Composite Ayush Hospital Mangaluru

Union Minister for Ayush, Ports, Shipping and Waterways Sarbananda Sonowal recently inaugurated the OPD unit of Composite Ayush Hospital Mangalore, Karnataka. The 50-bedded Ayush multi-speciality hospital was planned and sanctioned in 2016 and has been successfully accomplished in 2020. Due to the pandemic of COVID-19, the opening ceremony had been delayed. For the successful functioning of Ayush OPD (Ayurveda, Yoga and Naturopathy, Unani, Siddha, Homeopathy) and allopathy and in future there would be advanced and special treatment facilities.

…launches new unit at Udupi ayurveda hospital. Sarbananda Sonowal, Union Minister for Ayush, Ports, Shipping and Waterways recently inaugurated ‘Rathnashree Arogyadhama,’ a new unit of Sri Dharmasthala Manjunatheshwara Ayurveda Hospital at Udupi, Karnataka. Shobha Karandlaje, Union Minister of State for Agriculture and Farmers Welfare and Kota Srinivasa Poojary, Minister for Social Welfare and Backward Classes Welfare, Government of Karnataka were also present on this occasion. The new unit includes the aesthetic medicine unit – Shringara. Deluxe Ward – Health Cottage unit, Dhyana Mandira, Panchakarma Centre and Special Ward.

Sun Pharma launches cough syrup Chericof 12

Sun Pharmaceutical Industries announced the launch of a novel formulation in cough management – Chericof 12 (Dextromethorphan Hydrobromide 30 mg and Chlorpheniramine Maleate 4 mg) in India. Chericof 12, the first prescription cough syrup in India which gives relief for up to 12 hours, is manufactured using Polistirex technology for sustained release of the drug. Chericof 12 is approved for patients of age group six years and above. The Polistirex technology used in Chericof 12 provides sustained release of the medicine in the body, thus offering up to 12-hour relief to patients with twice-daily dosage.

Lupin forays into diagnostics business

Lupin is foraying into diagnostics to leverage its doctor connect to tap a sector that has low entry barriers, gives high returns on capital employed, and is witnessing double-digit growth. A formal launch is expected next month, sources in the know said. Lupin Diagnostics will be a part of Lupin Healthcare, a 100 per cent subsidiary of Lupin. It is in the process of recruiting the team, finalising franchise partners, and setting up a 45,000 square feet laboratory in Navi Mumbai. The company did not wish to comment on the development. Lupin has already hired an experienced team with a background in the diagnostics sector.

Union minister lauds COVID-19 vaccine production by IIL, BBIL

Union Fisheries, Animal Husbandry, and Dairying Minister, Parshottam Rupala lauded the efforts of Indian Immunologicals Limited (IIL) and Bharat Biotech International Limited (BBIL) for their ability to roll out the COVID-19 vaccine drug substance in record time. To date, IIL has already supplied 2 million doses of the drug substance. IIL will produce 3 million doses a month and from December will increase it to 10 million doses. Rupala said that he will extend all possible cooperation to IIL for its future

Parshottam Rupala during his visit to the IIL facility in Hyderabad

endeavours. He also expressed his support for innovation in research for both human and animal vaccines in the country. He handed over the COVID-19 drug substance. Made at IIL to Dr Krishna Ella, CMD, BBIL

Doceree introduces opti-channel marketing for pharma sector

Doceree has launched in India opti-channel marketing for the pharmaceutical sector, in its attempt to accelerate the adoption of digital mediums in an industry which is relatively slow in embracing innovative digital technologies. Doceree created the category of programmatic physician marketing in India with its entry into the market last year. The company is aiming to improve the overall business outcomes of pharma brands on digital with its latest opti-channel marketing approach. Enabling marketers to have tactical insights around a physician’s behaviour and engagement levels is Doceree’s yet another effort towards democratising pharma marketing.

Intas Pharma launches Azadine-O

Ahmedabad-based Intas Pharmaceuticals has launched oral azacitidine in India under the brand name Azadine-O. Oral Azacitidine is approved for use in maintenance therapy for adult patients with Acute Myeloid Leukaemia. It is the first drug that will improve survival by almost ten months and bridge a longpending unmet need in cancer therapy.

Cardiologist Dr Sudhir Srivastava bags SMICTSI Lifetime Achievement Award

Dr Sudhir Srivastava was given the Lifetime Achievement Award for his years of dedication, innovation and hard work in revolutionising the realms of minimally invasive cardiovascular surgery and providing the highest standards of patient care, teaching and research work beyond excellence. The award ceremony was held at the annual meeting of the Society of Minimally Invasive Cardiovascular and Thoracic Surgeons of India (SMICTSI) in Delhi.

BDR Pharma launches BIAPENEM to treat urinary tract infection

BDR Pharma has launched BIAPENEM to treat patients with intra-abdominal infections, lower respiratory infections, or complicated urinary tract infections. The drug will be available in the market shortly. BDR Pharma was the first to identify and develop this product and conducted clinical studies in conjunction with some of the leading players in the critical care segment who co-sponsored these studies. BDR Pharma was also the first one to get the DCGI (Drug Controller General of India) approval for this drug.

Union Health Minister releases post covid sequelae modules

Union Minister for Health and Family Welfare Mansukh Mandaviya released post covid sequelae modules in the presence of Dr Bharati Pravin Pawar, Union Minister of State for Health and Family Welfare. The modules will help in building the capacity of the doctors, nurses, paramedics and community health workers across India to

deal with the long-term effects of covid.

Expressing his happiness on the release of guidelines, the Union Health Minister said that these have been prepared to guide doctors and healthcare workers to deal with the issue of long-term effects of covid. He said that proactive and comprehensive treatment of covid is required to ensure minimum side effects and no negative effects of the treatment.

Fujifilm launches new CAD EYE function for real time colon polyp detection

Fujifilm India has launched the new software version of CAD EYE, a function that supports real-time detection of colonic polyps during colonoscopy utilising AI technology. The updated function will be essential for colon polyp detection and characterisation, which will be achieved by utilising a type of Artificial Intelligence (AI) called deep learning. The new detection and characterisation functionality of CAD EYE together with the polyp detection function will be available with software EW10-EC02 and the compatible expansion unit EX-1 in combination with Fujifilm’s ELUXEO systems and colonoscopes. CAD EYE was originally developed to support real-time detection of colonic polyps utilising AI technology. When a suspicious polyp is detected within the endoscopic image, a Detection Box indicates the area where the suspicious polyp has been detected, accompanied by a sound signal. The new CAD EYE Detection and Characterisation will assist clinicians by generating a suggested histological prediction by displaying whether the suspicious polyp(s) in the image are hyperplastic or neoplastic.

Fujifilm's CAD EYE function for real time colon polyp detection

GE Healthcare to acquire BK Medical

GE has entered into an agreement to acquire BK Medical, a leader in advanced surgical visualisation, from Altaris Capital Partners for a cash purchase price of $1.45 billion. BK Medical is an innovator in global intraoperative imaging and surgical navigation, used to guide clinicians during minimally invasive and robotic surgeries and to visualise deep tissue during procedures in neuro and abdominal surgery, and in ultrasound urology. BK Medical is headquartered in Boston and Copenhagen with more than 650 employees and is delivering double-digit revenue growth. The transaction is expected to create value by further strengthening BK Medical, including through significant synergies with the benefit of GE’s technology and commercial scale. This transaction enables BK Medical’s Active Imaging platform to reach new customers and new markets around the world, and the combination of GE Healthcare’s diagnostic imaging technology with BK’s ability to enable decision-making and surgical visualization in intervention will allow better decisionmaking throughout the care continuum.

Practo forays into secondary healthcare

Practo has unveiled 50+ Practo Care Surgery Experience Centres in six cities (Bengaluru, Mumbai, Pune, Delhi-NCR, Hyderabad, and Ahmedabad), marking its foray into secondary care in India. Practo is building an omnichannel healthcare ecosystem for secondary care procedures, that will enable users to seamlessly cross over between digital and physical, and out-patient to in-patient environments. Currently, Practo Care Surgeries is helping fulfil 50+ surgical procedures across three specialities viz. general surgery, urology and ENT, in six cities. The company plans to expand its network to 30+ cities, launch 300+ centres, add more specialities (viz. orthopaedic, gynaecology, ophthalmology, to name a few), and onboard hundreds of surgeons by the end of next year. Each Practo Care surgeon comes with at least 10+ years of experience. The model places an equal emphasis on audit as a tool to improve the quality and efficiency of care provided to the patients. The company plans to facilitate Rs 1000 cr worth of healthcare financing in India over the next three years. Additionally, its partnership with insurance companies is bringing in the much-needed convenience in paperwork support.

Ampio Pharma receives DCGI approval to commence AP-019 Phase II study in India

Ampio Pharmaceuticals, a biopharmaceutical company focussed on the advancement of immunology-based therapies for prevalent inflammatory conditions, today announced regulatory approval from the Drugs Controller General of India (DCGI) of the Central Drugs Standard Control Organization (CDSCO) in the Phase II AP-019 clinical trial in India. The study will utilise inhaled Ampion to treat those suffering from respiratory distress due to COVID-19. Following presentation of Ampion to a Subject Expert Committee (SEC) established by the DCGI, the AP-019 treatment protocol was approved with no recommended changes.

Gujarat govt launches Ayudmla portal for Ayurveda medicines

Gujarat has launched an online portal for Drug Manufacturing License System – Ayudmla for Ayurvedic Medicines. With this, Gujarat has become the first state in India to offer these facilities for Ayurvedic industry. The portal was launched during an event of GAAMA – UDAN 2021. Gujarat Ayurved Aushadh Manufacturers Association (GAAMA) recently organised ‘GAAMA UDAN 2021: focusing on Difficulties, Opportunities and Scopes of Ayurvedic Industry’ in Ahmedabad. Dr Hemant Koshiya, Commissioner, FDCA, Gujarat, Dr Kamleshbhai Bhatt, Joint Commissioner – Ayurveda, FDCA, Gujarat, Anand Mehta and Priyanka Shah, Technical Officer – Ayurveda, FDCA, Gujarat were present during the launch. More than 350 Ayurvedic industrialists across Gujarat participated in the event.

Ma Subramanian, Minister of Health and Family Welfare during the launch of liver transplant centre at Billroth Super Speciality Hospitals, Chennai Billroth Hospitals launches liver transplant centre at Chennai

Billroth Super Speciality Hospitals recently performed a liver transplant surgery for a 62-year-old man. With this, the hospital has also marked the launch of a liver transplant centre. The inauguration was done by Ma Subramanian, Minister of Health and Family Welfare, Tamil Nadu. The centre will be headed by Dr Elankumaran, who has performed over 1,700 transplants in his career. The team has highly qualified surgeons such as Dr Sugi Subramaniam, Dr Sivaraj and Dr Sankar Narayanan, Anaesthetists – Dr Kulaseharan, Dr Hari Balakrishnan, Dr Rengarajan and Dr Suresh.

MetroMedi.com ties up with BMS Fit Club

Hyderabad-based MetroMedi.com has tied up with BMS Fit Club to expand its footprint in the remote management of lifestylerelated chronic conditions associated with diabetes and hypertension and launch a diabetes reversal programme.

“Diabetes’ reversal is possible with our medically proven and clinically approved methods with India’s 1st diabetic reversal platform from MetroMedi & BMS Fit Club,” Uday Lakshmi – Co-founder, BMS Fit Club.

Satyanarayana Vaddi, Board Advisor and Chief Growth Officer, MetroMedi stated, “Consumer demands are driving the transition to patient-centric care delivery across geographies and socio-economic groups, with this though this partnership has taken place. We are expanding pan India and Our Team is working towards the same.”

Healthium Medtech appoints Ajay Gupta as Chairman of Board

Healthium Medtech has announced the elevation of board member Ajay Gupta to the Chairman of the Board and has also appointed Namrata Kaul as an Independent Board member. Gupta and Kaul along with the other board of directors will continue to guide Healthium Medtech to achieve profitable growth and provide surgeons and patients globally with cost-effective, high-quality medical devices. The appointments will also strengthen governance, leverage a wealth of industry knowledge, provide critical outside-in perspectives and creative ideas, to help the company achieve its vision and strategic goals.

Lincoln Pharma plans facility expansion in Mehsana for cephalosporin products

Cephalosporin products and has acquired a facility in Mehsana, Gujarat for the same. The plant will cater to all the Cephalosporin products i.e. Tablet, Capsule, Dry syrup and Injectable. The company is in the process of applying for WHO GMP Certifications for the facility and expects to receive the same by December 2021. There are plans to manufacture 20 plus Cephalosporin products and is planning to start product registration soon for the domestic and exports market.

CDSCO gives nod to Insightec for neurosurgery platform, Exablate 4000

Insightec, a global healthcare company focussed on transforming patient care, has received market approval from the Central Drugs Standard Control Organization (CDSCO) for its incision-less neurosurgery platform, the Exablate 4000. The Exablate 4000 (Exablate Neuro) platform uses MRguided focussed ultrasound to precisely ablate a small target deep within the brain without incisions. The approval will enable the treatment of patients in India living with Essential Tremor, Tremor-dominant Parkinson’s Disease and neuropathic pain.

Mylab acquires majority stake Sanskritech

Leading biotech company Mylab Discovery Solutions has acquired a majority stake in Sanskritech – the developer of Swayam. Mylab will establish point of care (POC) testing labs at doctor offices, nursing homes, community health centres, airports, etc. through lab partners to enable patients to get test results faster, at a lower cost and without the need to wait for hours. Swayam is a portable diagnostic and telemedicine point-of-care system that can be used to create a small lab anywhere. Mylab will use its expertise in diagnostic solutions development, biosensors, robotics, liquid handling to further expand the test menu and embed Artificial Intelligence which will facilitate faster reporting and consultation with the doctor and an even better experience.

Team Elite Gynae with filmmaker and director Nandini Reddy

Elite Gynae launches pelvic treatment EMSELLA in Hyderabad

Team Elite Gynae led by Dr Manjula Anagani has brought in the latest technology, EMSELLA- a breakthrough treatment for incontinence and confidence. The unique technology revolutionises intimate health and wellness by providing those suffering from incontinence with a completely non-invasive option. The treatment was inaugurated by renowned filmmaker and director Nandini Reddy. The Emsella chair treatment stimulates and strengthens all the pelvic floor muscles restoring continence and the confidence to enjoy normal daily activities without fear of losing bladder control. Patients can sit comfortably on the Emsella chair for the treatment. Each session is equivalent to doing 11000 pelvic floor exercises but without the hard work.

Indraprastha Apollo Hospitals ties up with Datri

Indraprastha Apollo Hospitals in association with Datri has launched an upgraded Centre for Bone Marrow Transplant (BMT) and Cellular Therapy in its premises. A bone marrow transplant is a clinical procedure that replaces an unhealthy bone marrow with healthy cells. The new state-of-art-centre has been strategically conceptualised to manage the required long stay of such patients in the hospital. Similarly, the BMT follow up OPD has been set up close to the Centre for being able to prevent these immunocompromised patients from mixing with other patients and reducing their risk of catching secondary infections.

Samhita, Cipla to empower Indian pharmacists in building community healthcare

Samhita Social Ventures and Cipla have collaborated to tap into the enormous potential of pharmacists as key drivers of community healthcare in the country. The collaboration was established after a study of over 1,100 pharmacists titled Future of Pharmacies, conducted by Samhita and Cipla across India, and shaped by the insights of Nachiket Mor, visiting scientist – The Banyan Academy for Leadership in Mental Health. The study indicates that pharmacists are invested in the health of their communities. 61 per cent of pharmacists stated that they wanted to improve their medical skills and knowledge to serve their customers better and 76 per cent reported collaborating with healthcare players to improve outcomes in their localities.

CoSara Diagnostics bags CDSCO clearance for Chikungunya, dengue tests

Co-Diagnostics, a molecular diagnostics company with a unique, patented platform for the development of molecular diagnostic tests, announced that CoSara Diagnostics (CoSara, or the JV), its joint venture for manufacturing and sales in India, has received clearance by the Central Drugs Standard Control Organization (CDSCO) in India to manufacture and sell its Saragene dengue and chikungunya RTPCR tests as in vitro diagnostics (IVD). The Saragene test kits approved by the CDSCO use the company’s patented CoPrimer technology for the qualitative detection of these mosquito-borne viruses.

Startup Ayu Health raises $6.3M in Series A funding

Ayu Health, a health-tech startup with a network of hospitals providing highquality, affordable healthcare, has raised $6.3M in Series A financing from Vertex Ventures and Stellaris Venture Partners. The round also saw participation from marquee angel investors including Varun Alagh of Mamaearth, Ashish Gupta of Helion and Rajat Goel of EyeQ Hospitals. The fund infusion will help Ayu expand its hospital network and build new technology solutions to enable insurance processing, efficient procurement and clinical quality management at network hospitals. Ayu Health expects to grow its business 10x in FY22 and expand its bed capacity to 5000+ beds in six cities by December 2022.

NCLT approves amalgamation scheme between Lincoln Parenteral and Lincoln Pharma

National Company Law Tribunal, Ahmedabad Bench, (NCLT) has approved the scheme of amalgamation of Lincoln Parenteral and Lincoln Pharmaceuticals under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. Amalgamation is expected to bring a lot of synergies in terms of operations efficiency, enhance competitive strength,

cost-effectiveness and productivity for the combined entity. The order sanctioning the scheme was pronounced on September 14, 2021, and uploaded on the website of NCLT on September 15, 2021. The appointed date of the scheme is April 01, 2019. The scheme will be effective upon the filing of the certified copy of the order of the NCLT with the Registrar of Companies, Gujarat. Lincoln Parenteral is a subsidiary company of Lincoln Pharmaceuticals engaged in the business of small parenteral injection products. investment programme of SCHOTT through 2025, leveraging the global pharma tubing and packaging business.

SCHOTT expands Indian tubing site in Jambusar, invests 70 million euros

SCHOTT is investing a total of 70 million euros in the expansion of its Indian tubing site in Jambusar, Gujarat, following several million investments in the last years. “Against the backdrop of the growth trend in the Indian pharmaceutical business and the pandemic, we want to commit to secure the supply of pharma glass,” explains Dr Patrick Markschläger, Executive Vice President of SCHOTT’s Business Unit Tubing.

The additional tank is scheduled to go into operation at the beginning of 2023, with the second one following a year later. The expansion in Jambusar will create new jobs for around 225 employees and is part of a more than $1 billion strategic

Aster DM Healthcare launches 75-bedded ‘Women and Children Hospital’ in Kottakkal, Kerala

Aster DM Healthcare has launched a 75-bedded dedicated ‘Women and Children Hospital’ in Kottakkal, Kerala. Consisting of 28 Neonatal Intensive Care Unit (NICU) beds and six Pediatric Intensive Care Unit (PICU) beds, the hospital will offer cutting edge multidisciplinary women and childcare services that will be steered by highly skilled medical professionals who are dedicated to providing world-class care and the highest safety standards. The new hospital will cater to the unique healthcare needs of children and women of all ages. The hospital specialises in obstetrics care including normal and high-risk pregnancies, comprehensive gynaecological care starting from birth, motherhood to menopause and beyond and complete neonatal and paediatric care including paediatric surgery. The hospital also provides 24*7 paediatric and maternal emergency services.

Menarini India unveils Definisse double-needle threads

In response to the growing demand for minimally invasive aesthetic rejuvenation procedures, leading biopharmaceutical company Menarini, and its dermatology and aesthetic medicine arm RELIFE have introduced Definisse double-needle threads in India. Definisse double-needle threads is a revolutionary solution in the minimally invasive techniques as it requires reduced procedural and recovery time, no general anaesthesia with immediate and visible results leading to higher patient satisfaction. The aesthetic procedure using Definisse double-needle threads results in contouring, lifting, realignment of sagging tissue, and reinforcement of the middle and lower thirds of the face and neck.

Medica Cancer Hospital, Rangapani introduces Halcyon machine for advanced treatment

Medica Cancer Hospital, Rangapani has introduced a high-end radiotherapy machine Halcyon with Image-guided radiation therapy (IGRT) & Intensitymodulated radiation therapy (IMRT), to its considerable bouquet of advanced services offered.

The Halcyon Radiation Therapy system’s targeted therapy ensures that damage to healthy tissues surrounding the tumour can be further avoided or minimised, which is of great benefit in cases such as cancer of the head and neck, prostate, lungs etc. The precisely delivered radiation with a tight focus prevents damage to healthy tissues and hence reduces the side effects of cancer treatment. The advanced system also ensures the completion of treatment in fewer steps as compared to the older radiation therapy system. Through the use of intelligent automation, reduces the treatment time and makes the therapy more comfortable for the patient.

Medpho raises $1 M from Cygnus Medicare Group

has raised $1 million in an angel funding round, led by Cygnus Medicare Group, Probal Ghoshal, Chairman, Amar Ujala, Dr Shuchin Bajaj, Founder & Director of Ujala Cygnus and Raghavendra Prasad, Founder, Project StepOne. With the received funding, the startup aims to focus on strengthening the company’s position in the market, expansion, innovation and provide complete healthcare services to rural and urban consumers.

Biocon Biologics, Serum Institute Life Sciences in strategic alliance

Biocon Biologics Limited (BBL), a subsidiary of Biocon and Serum Institute Life Sciences (SILS), a subsidiary of Serum Institute of India announced a strategic alliance. Under the terms of the agreement, BBL will offer approximately 15 per cent stake to SILS, at a post-money valuation of ~$4.9 billion, for which it will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS’s upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for global markets. Under the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. Adar Poonawalla will have a Board seat in BBL.

DTDC with Narayana Health set up oxygen generator plant in Jaipur

DTDC and its strategic partner, Geopost SA (DPD Group), owned by France’s Le Groupe La Poste, have associated with Narayana Hrudayalaya Charitable Trust and Narayana Hrudayalaya for the successful set-up and inauguration of an oxygen generator plant in Jaipur. The one-of-its-kind oxygen generator plant was inaugurated by DTDC CMD Subhasish Chakraborty, in the presence of top officials from DTDC and Narayana Health. The valuable joint -initiative, installed in the Narayana multi-speciality hospital in Jaipur, is geared to help the country fight the ongoing covid pandemic. The plant can generate medical-grade oxygen at 500 litres a minute.

Abbott acquires Walk Vascular

Abbott has acquired Walk Vascular, a commercial-stage medical device company with a minimally invasive mechanical aspiration thrombectomy system designed to remove peripheral blood clots. Walk Vascular’s peripheral thrombectomy systems will be incorporated into Abbott’s

(L-R) Adar Poonawalla, CEO, Serum Institute of India and Kiran Mazumdar-Shaw, Executive Chairperson, Biocon & Biocon Biologics existing endovascular product portfolio. Financial terms were not disclosed.

All India Institute of Aryuveda signs MoU with Western Sydney University, Australia

All India Institute of Ayurveda under the Ministry of Ayush, signed an MoU in coordination with NICM Western Sydney University Australia, in virtual mode, to appoint an Academic Chair in Ayurveda. The MoU was signed by Professor Tanuja Nesari, Director, All India Institute of Ayurveda, Ministry of Ayush and ViceChancellor and President, Western Sydney University, Australia, Professor Barney Glover in presence of Vaidya Rajesh Kotecha, Secretary Ayush and Dan Tehan MP, Minister for Trade, Tourism and Investment and Foreign Affairs of Australia. The new academic chair will undertake academic and collaborative research activities in Ayurveda, including herbal medicine and yoga, as well as design academic standards and short-term/ medium-term courses and educational guidelines.

Carlyle to part-exit as Medanta hospital chain files for IPO

Carlyle to part-exit as Medanta hospital chain files for IPO Global Health, which operates and manages hospitals across India under the Medanta brand, has filed draft papers for an initial public offering which will see private equity investor Carlyle Group make a part-exit. The IPO consists of a fresh issue of Rs 500 crore and an offer for sale (OFS) of up to 48.44 million shares by promoters and shareholders.The OFS comprises up to 43.34 million shares by Anant Investments and up to 5.1 million shares by Sunil Sachdev.

Swedish-Indian startup Näck launches Immunity Boost

Swedish-Indian startup Näck has launched, Immunity Boost, an antioxidant supplement formulated with Natural Astaxanthin, the most powerful

Natural Astaxanthin

antioxidant known to science. This is the second product launch to date following the, formulated with rice and pea protein. Immunity Boost keeps in line with the brand’s promise to be vegan whenever possible and is sourced entirely from plants. The Immunity Boost is formulated with Natural Astaxanthin that is sourced from microalgae cultivated in Sweden by AstaReal. Various clinical studies have found that when compared with Vitamin C and Vitamin E, Astaxanthin is 550X to 6000X more potent. Astaxanthin has been known to strengthen immune response, enhance antibody production, as well as improve the texture of the skin, boost muscle endurance and also help combat eye fatigue.

South Korea-based NF Healthcare launches oxygen generators in India

NF Healthcare, a leading manufacturer and provider of PSA Oxygen generators, launched MOSS 1800F product, with a capacity of producing up to 1000 + LPM of medical grade oxygen (with a purity of 93+-3 per cent), in India. NF Healthcare, with the support of its South Korea-based parent company, has been in the Indian market for the past two years, supplying Indian hospitals and healthcare centres with four unique products, with varying oxygen output capacity (LPM – litres per minute), designed as per the Indian needs. The company launched another innovative product that is set to empower hospitals to not only cater to the need of patients during a pandemic but also provide them with 93+-3 per cent pure oxygen.

HCG divests stake in Strand Lifesciences to Reliance Industries

HealthCare Global Enterprises (HCG), announced the acquisition of oncology hospital labs and clinical trials business from Strand Life Sciences as well as simultaneous divestment of its ~38.5 per cent stake (on a paid-up capital basis and 34.5 per cent on a fully diluted basis) in Strand to Reliance Industries group company. HCG received consideration of ~Rs 157 crore for the sale of its ownership in Strand and acquired labs and clinical research business through a Business Transfer Agreement (BTA) from Strand for consideration of ~INR 81cr with a set-off of ~Rs 7 crore towards receivables. The transactions resulted in a net cash inflow of ~Rs 83 crore for HCG in addition to the take-over of the labs and clinical research business.

Glenmark receives marketing approval for Ryaltris in 13 countries

Glenmark Pharmaceuticals has received marketing approval for its fixed-dose combination nasal spray Ryaltris in 13 countries across the EU and the UK. Glenmark is set to launch Ryaltris directly in the markets of the Czech Republic, Slovakia, Poland, and the UK. Ryaltris will be marketed in the rest of Europe by the Menarini Group as part of its exclusive licensing agreement with Glenmark. Ryaltris (olopatadine 665 μg and mometasone furoate 25 μg), is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. Ryaltris relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes.

Giuliano Perfetti

Giuliano Perfetti joins Jubilant Biosys as CEO

Jubilant Biosys announced the appointment of Giuliano Perfetti as its Chief Executive Officer. Perfetti has more than 20 years of experience across diverse businesses and global markets with expertise in strategy, sales, marketing and business development. He has led business transformation and expansion programmes

working in reputed names including Accenture and Astrazeneca among others. Before joining Jubilant Biosys, Perfetti was associated with Fabbrica Italiana Sintetici (F.I.S) as Chief Commercial Officer and was responsible for strategizing and executing the company’s growth plan and ramping up the global scale-up and commercial service business.

Know-how of saline gargle RT-PCR technique transferred to MSME Ministry

MagMAX Dx Prefilled Viral/Pathogen Nucleic Acid Isolation Kits

Nagpur-based National Environmental Engineering Research Institute (NEERI) under the Council of Scientific and Industrial Research (CSIR) has transferred the know-how of indigenously developed saline gargle RT-PCR technique, used for testing COVID-19 samples. The saline gargle RT-PCR technology is simple, fast, cost-effective, patient-friendly and comfortable; it also provides instant test results and is well-suited for rural and tribal areas, given minimal infrastructure requirements. The know-how has been transferred to the Union Ministry of Micro, Small & Medium Enterprises (MSME), on a non-exclusive basis. This would enable the innovation to be commercialised and licensed to all capable parties, including private, government and various rural development schemes and departments.

Thermo Fisher Scientific to manufacture nucleic acid isolation kits in India

Thermo Fisher Scientific will manufacture its Applied Biosystems MagMAX Dx Prefilled Viral/Pathogen nucleic acid isolation kits in India for the Indian market. The kit is used to isolate and purify viral RNA and DNA from human saliva, nasopharyngeal and oropharyngeal swabs, providing a faster, more precise and easier-to-use solution for customers. The MagMax Dx Prefilled Viral/Pathogen Nucleic Acid Isolation Kit will be manufactured in Thermo Fisher’s state-of-the-art manufacturing facility in Bengaluru. The site is currently used to produce CoviPath RT-PCR COVID-19 testing kits for customers in India.

Biological E’s CORBEVAX receives DCGI approval for clinical trials

The Department of Biotechnology (DBT) and its PSU, Biotechnology Industry Research Assistance Council (BIRAC) have supported Biological E’s COVID-19 Vaccine candidate from Preclinical Stage to Phase III clinical studies. In addition to receiving financial assistance under Mission COVID Suraksha, this vaccine candidate has also obtained financial support under COVID-19 Research Consortia through National Biopharma Mission, BIRAC. Biological E has received Drugs Controller General of India (DCGI) approval for conducting Phase III Comparator Safety & Immunogenicity trial in adults after the Subject Expert Committee’s (SEC) review of Phase I and II clinical trials data. Additionally, Biological E also received approval on September 1, 2021, to initiate the Phase II/III Study to evaluate the Safety, Reactogenicity, Tolerability and Immunogenicity of the CORBEVAX vaccine in children and adolescents. The candidate is an RBD protein subunit vaccine.

CitiusTech appoints Atul Soneja as President – Operations

CitiusTech announced the appointment of Atul Soneja as President – Operations. Soneja will focus on strengthening CitiusTech’s delivery organisation, including its proficiency teams and corporate functions, to drive operational quality, scalability, and service delivery

Atul Soneja excellence. Soneja has over 26 years of experience in building and scaling technology products and services organizations across the globe. Before joining CitiusTech, Soneja was the Global Head of EdgeVerve, a subsidiary of Infosys that focused on AI and automation products and platforms. Before EdgeVerve, he handled multi-billion-Dollar IT services businesses at Infosys, across multiple industry verticals like financial services, manufacturing and retail.

AACIO confers Special Award to Delhi-based doctor

The American Association of Cardiologists of Indian Origin (AACIO) has honoured Dr HK Chopra for his outstanding contribution of publishing ten textbooks on various aspects of cardiology in over ten years. Dr Chopra has made India proud by achieving this feat of eminence by his hard work, passion for serving humanity and scholastic aptitude. Dr Chopra is a Senior Consultant Cardiologist, Medanta Moolchand Heart Institute, Moolchand Medicity, Indian Chairman, World Wellness Foundation & WHA, Country Head, AHA, National President, Cardiological Society of India (CSI) & Indian Academy of Echocardiography (IAE) and chief editor of the top ten textbooks on cardiology.

Healthium acquires CareNow

Healthium has acquired CareNow Medical, strengthening its product portfolio with patented and differentiated products in the advanced wound management and infection prevention segments. Healthium’s product portfolio covers surgical consumables, urology and arthroscopy products. Its manufacturing facility at Bengaluru is registered with the US FDA.

With this acquisition, Healthium strengthens its portfolio of patented products through the addition of CareNow’s advanced wound dressing which has patents across the US, Europe and India. Further, the acquisition adds to Healthium’s manufacturing and R&D capabilities. CareNow’s manufacturing facility in Coimbatore is US FDA registered and will count as the 8th manufacturing facility for Healthium.

AstraZeneca with Tricog rolls out ‘Project Heart Beat’ in India

AstraZeneca India together with health-tech startup, Tricog, rolled out a programme called ‘Project Heart Beat’, which is focussed on an early and accurate diagnosis of heart attack patients, thereby reducing the mortality rates. It is currently deployed in Tier-I, II towns and villages that lack access to quality healthcare. The project addresses the unmet need for early diagnosis and intervention for patients with a suspected heart attack by enabling cloud-based artificial intelligence (AI) supported interpretation of electrocardiograms (ECGs), routing patients to the nearest cath Labs or fibrinolysis centres, thereby ensuring accurate diagnosis and timely treatment and ultimately improving patient outcomes.

The initiative also aims to upskill the physicians and technicians at the primary and secondary care centres to better manage Heart Attack patients, by following the guideline-recommended ACS (Acute Coronary Syndrome) treatment protocols and early referral to the tertiary care centres for better treatment outcomes.

Larsen & Toubro Infotech forms partnership with eClinicalHealth

Larsen & Toubro Infotech, a global technology consulting and digital solutions company has entered into a strategic partnership with eClinicalHealth to accelerate digital innovation in the R&D Clinical Trials Management process for patient-centric drug development. The partnership will help clients decentralize clinical trials setting new benchmarks of excellence in the clinical research space. The significance of the tie-up is based on the fact that 86 per cent of clinical studies are delayed due to challenges in patient engagement – mainly involving recruitment and retaining patients, which is a time consuming and expensive process. The pandemic has further aggravated this challenge. It is in this context that eClinicalHealth, which is focused on developing innovative clinical trial solutions, launched a cloud-based patient-centric SaaS solution, Clinpal – which improves patient engagement for each clinical trial journey.

API Holdings appoints independent directors

API Holdings, the parent co of digital healthcare brand, PharmEasy has made fresh appointments of five independent directors to its board, in line with the highest standard of corporate governance. The fresh appointments bring a great amount of cognitive diversity to the board, with luminaries from the world of public service, technology, pharma, medical fraternity, and the consumer sector.

Revenue Secretary of India.

• Subramanian Somasundaram recently retired as the CFO of Titan Company.

• Ramakant Sharma, Founder and

COO, Livspace and one of the most successful angel investors in India.

• Dr Jaydeep Tank, a leading gynaecologist based in Mumbai is the

Secretary-General, FOGSI.

• Deepak Vaidya, with decades of experience in the field of pharmaceuticals, micro-Finance, healthcare and private Equity.

IT veteran Vrajesh Shah joins Zing Health as CIO

Zing Health, a physician-led, tech-enabled Medicare Advantage plan focussed on underserved communities, has named Vrajesh Shah as its new chief information officer. Shah will shape Zing Health’s technology and data architectures to strengthen the health plan’s commitment to information management and

population health analytics.

A 25-year innovator in managed care health IT, Shah comes to Zing Health after a seven-year stint at AmeriHealth Caritas. As a chief technology officer and data strategist, he created a holistic vision and path forward for digital transformation, building next-generation technology platforms to support cost-saving, wholeperson models of care.

Vrajesh Shah MoU signing ceremony

CIL in MoU with Assam Health Dept

Coal India Ltd (CIL), under the Ministry of Coal, has signed an MoU with the Department of Health & Family Welfare, Government of Assam for strengthening the health infrastructure at the Silchar Medical College & Hospital, Silchar, the only medical college and hospital in Barak Valley Region, Assam. In this new CSR initiative, CIL will contribute Rs 5 crores towards setting up an ICU facility and medical gas pipeline in the Silchar Medical College & Hospital which will benefit over 40 lakh people of the state.

Ayush minister launches Yoga protocol app ‘Y-Break’

Union Minister of Ayush Sarbanand Sonowal launched the ‘Y-Break’ mobile application at Vigyan Bhawan. The fiveminute Yoga protocol, specially designed for working professionals to de-stress, refresh and re-focus at their workplace to increase their productivity, consists of Asanas, Pranayam and Dhyana.

The event was attended by Kiren Rijiju, Union Minister of Law and Justice, Dr Jitendra Singh, Minister of State (I/c) Science & Technology and Earth Science, Meenakshi Lekhi, Minister of State for External Affairs and Culture and Dr Munjpara Mahendrabhai Kalubhai, Minister of State for Ayush and Women & Child Development.

Union Minister Dr Jitendra Singh launches जनCARE

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and

Union Minister Dr Jitendra Singh during the launch of जनCARE

Space, Dr Jitendra Singh recently launched the AmritGrand Challenge Programme titled ‘जनCARE’ to identify 75 start-up innovations in telemedicine, digital health, mHealth with BIG Data, AI, blockchain and other technologies. delivery. Both AFPI and Eka Care will work closely towards the common goal of uplifting medical practice and enhancing health outcomes.”

Eka Care will be the preferred technology provider for AFPI member doctors providing services such as patient engagement, health records, EMR, telemedicine, and payment solutions for its members. This collaboration will also help members with appointments, Google listings, and SEO. On Eka Care, doctors can become part of their local network and will also be able to connect their patients with super specialists through this agreement.

AFPI in MoU with Eka Care

The Academy of Family Physicians India (AFPI) has signed a Memorandum of Understanding (MoU) with a connected healthcare platform, Eka Care to work mutually towards developing and implementing digital healthcare technology. Dr Raman Kumar, President, AFPI said, “We have tied up with Eka Care to drive the next wave of much-needed tech transformation. We firmly believe that by going digital not only would we be moving closer to our patients but also be much more effective around clinical

MFine raises $48 m in Series C funding

MFine announced a $48 million Series C funding round co-led by Moore Strategic Ventures and BEENEXT with participation from existing investors, Stellaris Venture Partners, SBI Group Japan, SBI Ven

Capital Singapore, Heritas Capital, Prime Venture Partners, Y’S Investment and Alteria Capital.

MFine aims to build one of the Largest Virtual Hospitals in the world and make high-quality healthcare more accessible and effective with the use of AI and mobile technologies. Towards that vision, MFine is enabling clinical decision support for doctors using AI and bringing vitals monitoring and health management to consumers’ smartphones.

Centre enhances financial support to open Ayush colleges in North Eastern states

The central government has increased the financial support from Rs 9 crore to Rs 70 crore to ensure more Ayush colleges are opened. This statement was made by Union Minister for Ayush and Ports, Shipping & Waterways, Sarbananda Sonowal. The minister was addressing a conference on ‘Diverse and Fulfilling Career Paths in Ayush Systems: Education, Entrepreneurship & Employment Focus on the North-Eastern states’ in Guwahati. The Union minister said that there are only a few Ayush colleges in the North-East and the Indian traditional medicine systems can only be popularised by making available more qualified practitioners. “For this purpose, more Ayush teaching colleges may be required to come up in the North East States. Earlier under Centrally Sponsored Scheme of National Ayush Mission provided financial support of Rs 9 crores to state governments to open new Ayush colleges. Now, the Government of India has enhanced this amount to Rs 70 crore. States may identify the land and manpower for this purpose and avail this opportunity as per the guidelines of the NAM,” Sonowal said.

What Can Finance Leaders Do to Help Clinicians During the COVID-19 Crisis?

Advice to healthcare CFOs on how they can help ease the burden on clinicians in the ongoing battle against COVID-19

Shuchin Bajaj, Promoter and Director, Ujala Cygnus Hospital

As finance leaders, we have to ensure our clinicians that we are providing them with every kind of support in such unprecedented times. This not only boosts the morale of the clinicians but also helps them strengthen their relationship with the organisation. Being able to provide the proper equipment to prevent healthcare workers from getting sick is also part of our mission. This is why we’re working on addressing the shortages of protective equipment. When there is a surplus of supplies, distributing the protective equipment in the areas where there is a need is also a task. We need to pool these supplies and equipment with other healthcare CFOs in the other regions so that they can be shared across the country. There about the whole pandemic management was that some of the highly-developed countries in the world with the highest healthcare spend per capita was way less sophisticated than countries like South Korea or even China in that regard.

is no doubt about the fact that if we stand up together against the battle with COVID-19, we certainly have a better chance to combat the effects of the COVID-19. Having the capability to share equipment and supplies would allow us to do so without being cluttered with supplies.

Since India has a poor doctor-patient ratio, the need of the hour is to deploy more staff members, who have relevant experience in critical care including ventilation therapy. We can also think of recruiting retired nurses, clinicians, physicians to ease out the burden as they don’t need any special training to treat critically ill patients. Physicians, who so far have been taking care of the elective surgeries, could be used in triaging patients. Keep your emergency deployment plan handy. Let’s talk about testing

Have you ever wondered why the mortality rate was low in Germany as compared to India? It’s because they took part in an aggressive testing process, which helped them to identify the asymptomatic carriers. They had tested each and everyone and put the positive ones under strict quarantine for two weeks.

Rigorous testing is beneficial for healthcare staff too as it allows the carriers to stay out of hospitals or in a special ward. Initially, everything looked haphazard. The most shocking thing Role of CFOs if their organisation are not yet immersed in crisis management

As a CFO, you can also prepare a set of clear and actionable guidelines and checklists to guide your organisation through the various scenarios that may arise if the situation worsens. Set up telehealth facilities to reduce the patient load. Ask your non-essential workers in the hospital to work from home and avoid visiting hospitals in worse scenarios to minimise their exposures.

In general, try to reduce the patient footfall and other traffic to the hospital. Postpone any projects that are not essential right now, such as renovations, construction, reorganisations and so on. Once you’re experiencing an increase in the suspected covid patients in the organisations, this is the moment when you need to take care of the patients as well as the clinicians. Talk to the clinicians to understand their immediate needs. Take prompt action against all the needs suggested by them and at the end of the day do check how many issues got mitigated.

Business Transformation During COVID

Despite numerous challenges posed by COVID-19 pandemic, the change of circumstances and new requirements has inspired innovation from companies like Genworks Health

GaneshPrasad sengamalam, Founder, MD and CEO, Genworks Health

For a distribution organisation like ours with a large direct employee base, the lockdown due to covid was a huge issue to solve; we had two tasks cut out as how we will support our customers and keep the employee morale high during this difficult period. The pandemic was new to everyone and within two weeks there was a major disruption that threatened lives and lockdown impacted livelihoods. The senior management came together and within two weeks of the announcement of lockdown took some very important steps to connect to the teams, give them the confidence that their livelihoods will not be affected and most importantly the teams were asked to stay home and stay safe.

A work from home policy was discussed and announced to stay in touch with customers and to continue to engage with them for supporting their needs. We ramped our digital ecosystem and ensured that remote working was enabled without any glitches. Customer engagement dramatically changed from personal meetings to remote engagement that included digital marketing to build expectations on our solutions and followed up through one to one product sessions. We built our E-store, the B2B commercial transaction engine, to support contactless transactions.

By staying connected to our customers we quickly identified the new normal needs and created a new pandemic care solutions vertical that included enabling remote care for patients, supporting the customers remotely through online

platforms and transacting through our e-store. The most important thing that we did during this period was to connect with teams and to keep their morale high, constantly communicating the support and ensuring no major disruption to their livelihoods. The senior team members took pay deferrals to reduce the financial stress on the company and leveraged the government schemes for deferral of EMI and PF withdrawal to manage the six months of cash flow. The workforce was kept protected and constantly motivated to stay safe and stay connected to customers remotely to keep them engaged. Over 10000 online demos and product support was provided The young service team members were supported to ensure they were safe when they had to attend breakdown calls. We acquired new business and added new streams of business during the first and second wave and played a significant role to support our customers to support patients during the pandemic with products and solutions that emerged as the need. Cost actions that would build efficiency but not affect any employee were taken that included giving up office space and reducing travel to the barest minimum. The constant connection with customers and our workforce, building a digital commercial transaction capability that replaced conventional in-person engagement, adding new portfolios for covid, expanding our digital portfolio, expanding into more care areas as chronic care, building a connected care portfolio for every care area, launching our e-store and acquiring a growth business in Invitro diagnostic and engaging with customers with more e-learning opportunities helped the business rebound and grow faster than the past.

Healthcare as a service is undergoing a massive transformation and is moving to 'Point of Care' to where the patient is and to the neighbourhood. Connected Care, prevention, early health is the new normal and we are ready. Healthcare is moving to the point of care, to where the patient is and the movement of patients will only be for acute care. Chronic care has to move to where the patient is or to a neighbourhood healthcare facility. Primary care should be omnipresent

Critical care has to be staged; at one level remotely managed and supported and as another well equipped with technology. It will be very interesting to think about how quickly our customers adapted to a common goal called saving lives in the last 18 months. We are geared up to support this change with new pandemic care solutions that include enabling remote care for patients, supporting the customers remotely through online platforms and transacting through our e-store. Customers need participation to build efficiency and scale for this change to democratise healthcare, which has already begun and is here to stay.

The empathy during the difficult times and agility to go above and beyond the transaction, demonstrating our capabilities to democratise healthcare by leading with commitment will I am sure overcome the revenue loss and has made us stronger to support this healthcare transformation.

Understanding The Correlation Between D-dimer and COVID-19

Jatin Mahajan, MD, J Mitra & Co

The D-dimer test helps to gauge and monitor the patient's progression to COVID-19 related cytokine storm and triggers timely medical intervention to reduce fatality. An insight by Jatin Mahajan, MD, J Mitra & Co D-Dimer, a test hitherto not known to many outside the medical fraternity, has suddenly gained prominence and become a household name during the corona pandemic.

After the difficult breathing and respiratory complications associated with COVID-19, doctors have discovered another severe risk posed by the SARSCoV-2 virus. Blood clotting is a newer and rarer symptom of corona infection that can lead to life-threatening strokes, heart attacks, and pulmonary embolism.

Blood clotting is an essential and natural process that prevents us from losing too much blood in an injury. Typically, our body's natural defences dissolve the clot once the wound has healed. However, with a blood clotting disorder, clots can form when you don't have an apparent injury or don't dissolve when they should. This condition of blood clotting can be severe and even life threatening. In addition, it is potentially dangerous because the clot can restrict the flow of blood within the blood vessels, leading to complications like stroke or heart attack.

As per research by the National Institute of Health, the US medical research agency, 31 per cent of critical ICU patients experienced complications related to blood clots.

As per a Lancet study, the platelets of people hospitalised with COVID-19 were found to be hyperactive, having increased activation and aggregation (clumping). COVID-19 appears to cause increased activation of cells that are responsible for initiating the clotting process.

The D-dimer test in such cases helps gauge and monitor the patient's progression to COVID-19 related cytokine storm and triggers timely medical intervention to reduce fatality.

D-dimer tests are conducted to monitor for blood clotting issues, which may lead to health problems, such as:

• Stroke • Pulmonary embolism (PE) • Deep vein thrombosis (DVT) • Disseminated intravascular coagulation (DIC) The D-dimer test looks for D-dimer in blood. D-dimer is a protein fragment (small piece) formed when a blood clot dissolves in your body. D-Dimer is one of the many fibrin degradation products. When a body part is damaged or bleeding, our internal defence system stops the bleeding by joining the cells together to make a network. This network is formed from a protein - fibrin and causes a blood clot. That blood clot is due to the crisscrossing of fibrin. When the healing is complete, the body starts to degrade that clot and break down the fibrin. When the fibrin breaks down, it forms fibrin degradation products or FDPs. And one of the FDP is D-Dimer.

D-dimer tests are conducted if a patient is showcasing symptoms of blood clots, such as:

• Pain, Swelling, warmth, and changes in skin colour

• Sharp chest pain, breathing issues, blood in cough, and a faster heartbeat

• Nausea and vomiting, Bleeding gums, muscle pain, seizures, severe stomach pain, and decreased urine

At J Mitra, we have the D-Dimer Microlisa test kit for in-vitro quantitative determination of D-Dimer in human plasma. Based on the Sandwich ELISA principle, the test has an accuracy of more than 99.5 per cent. The D-Dimer test adds to our long list of covid-related test products and is our endeavour to fight against the pandemic.

How Technology Can Help Bring Down the Cost of Healthcare in the Next Five Years

Insight on how convergence of multiple technologies will exponentially amplify the impact bringing down the costs and improving access to healthcare

Rajneesh Bhandari, Founder, NeuroEquilibrium

"An ounce of prevention is worth a pound of cure" - A large proportion of chronic diseases are preventable, providing an opportunity to exploit prevention as a strategy and reduce disease burden.

Wearable smart devices can monitor health parameters like ECG, pulse, oxygen saturation, sleep parameters, gait parameters, etc. The list is endless. Smart wearable devices can monitor one's health in the real world, at work, at home, or during sleep. These devices help in finding out the medical "Root Cause Analysis." Thus these devices, enabled by AI-driven actionable insights, can help people manage their health and make more informed decisions, directly reducing long-term healthcare costs.

Wearable technology can make healthy living a cult and help reduce chronic and lifestyle diseases. Startups like Curefit, which focuses on better eating and fitness, are targeting 90 million healthconscious individuals in India.

Digital therapeutics (DTx) provide scientifically proven software-driven therapeutic interventions to help people change their habits, prevent or manage the disease and thus reduce their risk of chronic disease. For example, more than 30 per cent of people in the US do not take their medications as recommended, resulting in 125,000 deaths annually. Digital therapeutics, using AI tech, can help improve patient adherence to taking medicines.

Handheld smartphone-connected screening devices will dramatically decrease diagnostic costs and increase accessibility. One such example is Butterfly iQ, the world's first handheld, smartphone-connected, single-probe whole-body ultrasound system, which came into the limelight recently when the device was used to perform ultrasound in space aboard a SpaceX spacecraft.

Teleconsults are the new normal and will disrupt hospital OPDs in the future. As per a recent McKinsey report, telemedicine will replace at least 30 per cent of OPD in India, saving over $5 billion. According to the projections, 50 million households will be doing virtual consults in the next five years, mainly under a subscription model.

The top 10 causes of death in India require treatment by a superspecialist doctor. However, there is an acute shortage of super-specialist doctors. For example, we have just 800 endocrinologists for 72 million diabetic patients, while as per the US or European standards, we should have 30000 endocrinologists. Similarly, for 1.3 billion people, we should have 40000 neurologists but have just 4000 neurologists. Technology will have to be a force multiplier to solve problems of accessibility and affordability. Remote diagnostic platforms, enabled by AI, can dramatically reduce the marginal cost of providing super-speciality services. NeuroEquilibrium is one such superspeciality remote diagnosis platform for vertigo and balance disorders. NeuroEquilibrium provides service in over 125 hospitals across India. Superspecialist doctors, sitting in a central location, assisted by computer vision and machine learning, help in diagnosis, treatment planning, and rehabilitation of these patients, thus reducing cost and increasing access to super-speciality healthcare. In India, hospital infrastructure is inadequate, with only 1.5 nurses and 0.7 beds per 1000 population. "Home healthcare," enabled by technology, will save 40 per cent of costs compared to hospitals. More importantly, patients have a faster recovery cycle with the love and care of family and a comfortable environment. It also reduces unnecessary hospital visits by 65 per cent. Technology-driven 'Home healthcare' could reach 90 million households by 2025.

For any healthcare provider, the first interaction with patients to understand their symptoms is a massive undertaking. It requires patients to visit the hospital physically and clearly articulate their condition and doctors to diagnose symptoms and provide treatment. The overuse of specialists for initial diagnosis makes healthcare very expensive. Artificial Intelligence (AI) and chatbots can help make the initial diagnosis to direct the patient to the correct specialist.

AI-driven teleradiology can reduce the marginal cost of interpreting an MRI or a CT scan to near zero. For example, technology developed by Zebra Medical Vision can read millions of scans in a day at less than $1000 a day. Possibly in five years, a medical image will be reviewed by a radiologist only after it has been pre-analysed by a machine. Similarly, today artificial intelligence can interpret pathology slides better than pathologists. Computer vision products like PathAI claim a lower error rate than pathologists.

Medicine will advance more in the next ten years than it did in the last 100 years. The convergence of these multiple technologies will exponentially amplify the impact bringing down the costs and improving access. This new era of care will be revolutionary as we move from sick-care to healthcare, from reactive to preventive, from episodic to predictive, and from one-size-fits-all to personalised.

Healthcare Finance and Business Strategy Amid Changing COVID-19 Climate

The future is about the ability to be flexible in resource planning

Capital Finance

Money is always available in plenty, it comes with cost, commercials and structure which needs to be understood very well

Kannan Ramesh, Partner, Somerset Indus Healthcare Fund In a burgeoning healthcare market, where technology is key there are many choices for a provider of capital finance. It is important to understand that every option comes with its challenge and it is very important to pick and choose the right option. In my limited learning over nearly 30 years the key is to understand what you can do and then decide what is the best option to have. A lot of people spend a significant amount of time worrying about the cost of funds rather than the outcome based on the utilisation of funds. Also, we have to be very clear whether we are going to put money into expenses or we are going to put money into a business that will determine the risk and the resultant reward.

Banks – Provide term loan, external commercial borrowing, letters of credit, personal loan, mortgage loan, equipment loan etc., These depend on the cost of the project, the means of finance, cash flows, collateral security, personal guarantee etc., we have to pick and choose the option most suited to us in terms of the repayment period, moratorium, structure and repayment and the cost.

NBFC’s – Are a little expensive but more flexible and digitally empowered to meet the requirements be it term loans, equipment loans, lease, demand Loan etc., it is advisable to use this loan more for business with increased turns to pay for the cost and also benefit to accrue. Development finance institutions – Play an important role in enabling benefits to the community at large. The size may be a little large but the terms are more palatable and the purpose is not only economics but also empathy to the patients. The flexibility offered and the varieties are worth exploring. A lot of international players are in vogue Private equity – Largely driven by Returns and Exit. These two determine the purpose of investment. A company with adequate turnover and profits willing to grow to size and scale including acquisition could be a potential target. A sense of maturity in the promoter is required to handle private equity and in today’s context, ESG (Environment Social Governance) is increasingly becoming very important. Venture capital – Is focused more on technology and the quantum can be smaller compared to private equity and their ability is that much higher and the idea takes precedence over revenue and profit. This is a good option for health tech companies. Family officers - Play an important role in helping in seed-stage investment with some traction on the business and a need for money to help in Technology / People etc. Ultra net worth individuals – Play an important role in supporting seed-stage companies to find their moorings before they approach a family office. Accelerators – A play a very important role in identifying potential opportunities and supporting deserving companies with mentoring, networking etc.

RBF (Receivable based financing) – This is a new development today where companies are funded based on the consistency and regularity of revenue. The costs are high but the process is very quick and can act as a boost before the company approaches funding. Invoice discounting – This is a facility offered based on the comfort of the debtor to discount the Invoice/Bill

leading to receivable financing to help meet the obligation. Technology plays an important role in enabling improved cash flow, reduced cost of funds, no collateral, avoiding debts on the books. Venture debt – This is a more established form of fundraising and has been very successful in India where leveraging debt, without diluting equity one can build scale and then approach the private equity/others. Public issue – A recent phenomenon has been a rush towards going public to raise the sources, provide exits for investors and retire debts. Healthcare is seeing a big boon where many companies are taking this route. SPAC (Special Purpose Acquisition Company) – is again a new development now (though existing for some time). This is leverage to acquire companies in a given geography. Lease – In particular operational lease in addition to capital lease is becoming an increasing trend where providers are allowed to earn and then pay. By structuring the expectation of the borrower and the comfort of the lender is established and turns out to be a winner for both. This is an interesting option which the companies should explore. SAAS – This is a new trend catching on with healthcare companies where solutions and services are provided on a model which enables pay per use basis. This is very advantageous to companies who can define the usage based on the availability

While the options to raise money is enormous and customisable the key is to pick and choose the best possible option at a given point of time to ensure comfort and convenience without adding too much stress In today’s world collateral security has been largely replaced with cash flow’s pledge of shares, personal guarantee, security cover etc., thereby freeing the entrepreneur from a load of collateral security, significant margins etc. Money is always available in plenty, it comes with cost, commercials and structure which needs to be understood very well. Technology is playing a very important role in ensuring the speed of completing the transaction with minimal hassle.

Manufacturers and suppliers of equipment too are contributing by offering payment terms that enable the provider to earn and pay. Particularly in IVD market equipment’s are placed in the provider’s premises and reagents are supplied and returns are made without investment by the provider.

To sum it up, every provider needs to assess and understand the opportunity to grow, expand, diversify and accordingly raise the most suitable form of funding.

Debt, A Powerful Tool to Manage Working Capital Outlay

Best practices advice from organisations that have a strong track record of success in managing their venture capital programme

Abhinav Suri Partner Strides ventures

While looking for growth capital, a lot of successful new-age businesses are increasingly taking a round of venture debt along with equity or in between equity rounds. The size of debt varies depending on the business model and maturity of the businesses and is typically 5-20 per cent of the total capital raised for new-age businesses that are yet to achieve profitability. Venture debt can be effectively used with the following objectives in mind:

• Protecting equity dilution • Extending runway between rounds • Financing working capital mismatch • Financing capital expenditure and acquisitions • Create a credit track record

The repayment structure of the debt should ideally correspond to the enduser objective in mind. An amortising term debt structure can be used for instance to extend the runway and reach a certain operational benchmark viz. revenues, several customers etc. and then raise an equity round at the desired valuation. A revolver debt structure can be used effectively to finance working capital viz. inventory, receivables. The revolvers continue as long as there is working capital and can be continuously financed through debt. This also creates a successful credit track record and can help in future debt raise from cheaper sources like commercial banks as the business matures and achieves profitability. Future cash flows protected by contracts with a high degree of certainty, can be a good debt use case and appropriate debt structures can be built around the same.

Debt has been a powerful tool for many B2B companies in managing their working capital outlay. For example, startups working with hospitals have realised that hospitals prefer to pay over some time for their use of consumables, surgical, diagnostics etc and such working capital is effectively plugged through debt. Similarly, medical device distributors have realised the potential for debt to build inventory and provide end financing to their customers. Debt has also been used by such medical equipment providers and hospitals for the purchase of high-value equipment and machines.

The venture debt raised is typically secured by all the business assets of the company without any onerous need for collateral or personal guarantees, and also carries a warrant component in addition to the interest cost. It is important for founders to time the debt round appropriately, after the business model has been proven, operations have scaled with a positive contribution margin and there is adequate equity capital. Raising debt too early or in excess can put undue stress on the balance sheet and can be counterproductive. As a thumb rule, cash flows with a high degree of predictability are best financed through debt. The Indian startup ecosystem has come of age over the last few years across several sectors including health care which has seen considerable acceleration due to the pandemic. Venture debt as an asset class has also gained significant ground in light of this and will continue to grow as businesses scale. Founders should use this source of growth capital judiciously and save dilution.

Identifying Next Gen Leaders

It is extremely critical that one continues to be fully abreast of the latest that is happening in the world and make efforts to learn and stay ahead of the curve

Shripad Joshi, President, Perkin Elmer India and South Asia An interesting topic that has the potential to not only determine the future of a company but also the future of our country. As Kouzes and Posner mention in the very famous The truth about leadership, leadership is an affair of the heart. I very firmly believe in this adage and think that to be an effective leader, one needs to put others before self and this perhaps is the most important trait one should look for while we go about identifying the next generation leaders. At the end of the day, leaders should know that it is the people who make the difference.

A lot has been written about leadership by very eminent writers over the years. What has personally worked for me in these years to identify and groom the next generation leaders include identifying the spark, their passion and commitment, vision and strategy, empathy and culture, knowing your customers, seamless execution and the ability to constantly learn and upgrade yourself. Identifying the spark

This is the fundamental step in identifying the next generation of leaders. It is not so much about the number of years one spends at work but more importantly what one has learnt in those years that is more important. Quite often we do see some very young and new employees who display sparks of brilliance.

Such people must be encouraged to express themselves without fear of failure. Such employees will go on to play a pivotal role in the growth of the company in future. Passion and Commitment

While having a sane head is very important, it is equally critical to identify people who display unhindered passion and commitment towards what they are doing. The ability to believe that achieving something that has not happened in the past is possible and marching towards it with undivided attention is a very important characteristic. Such people go on to achieve incredible results through their passion and commitment to a cause. Vision and Strategy

It is important to dream big and believe in what you are setting out to achieve. And the ability to take people along collectively with your vision and strategy sets out successful leaders apart from others. People

who display these traits, can positively influence all the key stakeholders and display informal leadership and have the respect of peer groups need to be watched closely by the organisations and such people should be encouraged with higher responsibilities.

Empathy and Culture

Empathy and culture could very well be on top of my list. This has assumed even greater proportions in recent times with the impact of the pandemic that has been felt across the globe. Unless one understands others well and is empathetic towards others, it is impossible to be recognized as a credible leader. I believe your character and values as a leader get tested during trying times. It is in these times that one needs to be on top of his/her game. So one must know how empathetic your next-generation leaders are and the kind of culture one is creating in the organization. A culture of transparency, openness, effective communication and walking the talk is important. Knowing your customers

Customers could be external or internal. Unless one understands the needs of the customers very well, it is impossible to succeed. It is not so much about meeting metrics, SLAs and deadlines but it is more about what positive impact your work is leaving with your customers. And whether your customer is going to come back to you for more. Yes, one must see that passion towards customers in the next generation leaders.

Execution

While all the traits mentioned above are important towards identifying the next-gen leaders, one also needs to see their ability to execute the plans. A plan, vision and strategy can be rendered useless if not executed properly. Constant learning

With the pace at which the world is changing, one cannot sit on the past laurels or assume “ I know it all”. It is extremely critical that one continues to be fully abreast of the latest that is happening in the world and make efforts to learn and stay ahead of the curve. Conventionally norms are challenged constantly and as a leader, if you do not understand this, it is not possible to build your organisation for the future.

Simon Sinek’s Leaders eat last resonates very well with what I think should be looked for in next-generation leaders.

Operations Management

The healthcare ecosystem is dynamic and driven by external and internal forces

R Venkataramanan, Founder and CEO, Karkinos Healthcare The healthcare ecosystem is varied and complex, reliant on environmental, socio-economical, technology and human factors. At the heart of healthcare lies the human element, which defines the patient and doctor relationship.

Healthcare hosts a diverse pool of stakeholders ranging from doctors, clinicians, nurses, management, administrative personnel, emergency and paramedical support, interns and others who come together to provide the needed care for patients. The healthcare ecosystem is dynamic and driven by external and internal forces such as technology advancements, ageing, changing disease patterns, improved patient care and access, shifting patient demands and the need for data-enabled decision making, among others.

With the current pandemic situation, there has been a lot of focus on the right health care support and 24x7 availability of clinical services. The rising cases and demand of health facilities have seen healthcare leaders use a blend of management, clinical, social, behavioural and business competencies to address demand and rise to meet the situation. There is no one size fit for all models for healthcare management. However, a combination of existing models that fit the culture and work practices will foster efficient management. The goal is to get everyone moving forward together to a similar beat and to keep that pace over time.

The operations management needs to be supported by a trust-based governance model integrating patient empathy with managerial governance. The power distance between management and clinical staff often becomes a road map to rigidity and resistance as clinical staff perceive that any successful change must have a purpose and consider on-ground challenges. Since the clinicians, nurses and support staff share an emotional connection with their patients, they feel more connected with the operational changes when they perceive they are involved and can influence change. Lack of shared purpose and understanding of value will bring resistance to change. A change with a strong, relatable purpose helps care staff understand and adopt new ways of working. Based on the culture of the health care organisation, the purpose can be defined together by management and critical care staff or communicated by leadership in multiple formats and forums.

The key building blocks for operation management are -

• Leadership engagement Engagement of department leaders/ stakeholders helps to achieve alignment. The building block will be one of the cornerstones for success, as leadership commitment and engagement will help establish a strong business case and implement a structured change approach.

• Culture

Understanding the culture of healthcare institutions will be essential to crafting tailored actions. The correct assessment

of the cultural attributes will help set the right change tempo while personalising and incentivising change for the staff.

• Communication

A robust and relatable purpose translated into a clear communication plan will create a value story for the dashboard strengthening interest and staff commitment for the change initiative.

• Staff training and handholding Training will be another cornerstone for success to show the functional, behavioural, and social aspects to bring more patient-centric care.

• Benefit management A change plan with clearly defined outcomes will assist in measuring and monitoring progress while showcasing the return of investment.

One of the most significant aspects of delivering a project is hiring the right people and getting a lean team in place with all the required capabilities. It is essential to set up a strong human resource department and have a rigorous hiring process to facilitate quality hiring. The senior leadership should spend significant time ensuring that any new person hired has the right cultural fit in the organisation and has a solid commitment to the cause they are working towards.

Lastly, it is important to keep the flow of information as fast and accurate as possible to all the concerned stakeholders. A clear governance structure and flow of information, thereby creating transparency and visibility across the organisation is essential. The operations management team should continue the initial momentum and highlight leadership commitment to the vision with a compelling story and value-centric communications, that is promulgated across the departments. Qualitative and quantitative measures can track these operational outcomes to help periodically improve the patient experience and bring strong cohesion among the stakeholders.