Annapurna Finance Sells 10.4% Stake to Piramal Enterprises
Piramal Enterprises Ltd, the financial services arm of the Piramal Group, has announced that its wholly-owned subsidiary Piramal Alternatives Trust (PAT) will acquire a 10.4% stake in Annapurna Finance Pvt Ltd (AFPL) for Rs 300 crore. The deal will be done through a combination of purchase of equity shares and subscription to optionally convertible debentures. […]
General Insurance Council’s Campaign for Cashless Hospitalisation
The General Insurance Council, the representative body of non-life and health insurance companies in India, has launched a campaign called ‘Cashless Everywhere’ on January 24, 2024. The campaign aims to provide cashless hospitalisation to policyholders even in non-empanelled hospitals across the country. This is expected to ease the financial burden of policyholders, increase their choice […]
Serum Institute Joins CEPI for Disease Outbreak Vaccines
Serum Institute of India (SII), the world’s largest vaccine manufacturer, has announced its partnership with the Coalition for Epidemic Preparedness Innovations (CEPI), a global alliance of public, private and philanthropic organizations that aims to accelerate the development of vaccines against emerging infectious diseases. The collaboration will enable SII to join a growing network of vaccine […]
The Kenko Life: Bangalore’s Healthy Meal Service Wins Angel Investment
If you are looking for a healthy meal service in Bangalore that can cater to your specific dietary needs and preferences, you might want to check out The Kenko Life. The startup, founded by Neeraj Kumar and Vivek Chandran, provides customized meals to match one’s protein, calorie, and macro requirements, without compromising taste. Their dedicated […]
Boosting Pharma-MedTech: India’s Rs 5,000 Crore Allocation for Advancing Research and Innovation
India has taken a major step towards enhancing its research and innovation capabilities in the pharmaceutical and medical technology (Pharma-MedTech) sector by launching the Promotion of Research and Innovation in Pharma-MedTech (#PRIP) initiative. The scheme, announced by the Ministry of Finance on X, aims to provide financial support and incentives to companies, institutions and researchers […]
Mastercard Pioneers Healthcare Payments: Introduction of Virtual Card for Medical Claims
Mastercard, one of the world’s leading payment network processors, has announced a groundbreaking solution for medical claim payments in India. The company has partnered with one of the leading financial institutions in India and Remedinet, a cloud-based health tech platform that simplifies the back-end of cashless claims by connecting hospitals, insurers and third-party administrators. How […]
Sun Pharmaceutical Industries Expands Reach: Acquisition of Remaining Stake in Israel’s Taro
Sun Pharmaceutical Industries, India’s largest drugmaker, announced on Thursday that it will acquire the remaining 21.52% stake in Israel-based Taro Pharmaceutical Industries for ₹2,891.7 crore ($43 per share). This move will enable the merger of the two entities and consolidate Sun Pharma’s control over Taro, a key player in the generic dermatology market. Background Sun […]
Telangana Government and World Economic Forum Partner to Set Up C4IR in Hyderabad
A landmark agreement for health tech and life sciences The Telangana government and the World Economic Forum (WEF) have signed an agreement to establish the Centre for the Fourth Industrial Revolution (C4IR) in Hyderabad, the capital city of the southern Indian state. The agreement was signed by Chief Minister A. Revanth Reddy and WEF president […]
Government to Directly Purchase from Over 300 Medical Device Manufacturers via GeM Portal
Introduction to GeM Portal The Government eMarketplace (GeM Portal), under the Commerce Ministry, serves as a significant public procurement platform. Recently, it established a groundbreaking memorandum of understanding (MoU) with the Association of Indian Manufacturers of Medical Devices (AiMeD). MoU Signing and Its Implications This MoU marks a pivotal step in transforming healthcare procurement in […]
Shri Sarbananda Sonowal: Laying the Foundation for Homoeopathy Research in Guwahati
A New Campus for the Regional Research Institute for Homoeopathy Union Ayush Minister Shri Sarbananda Sonowal will lay the foundation stone of the permanent campus of the Regional Research Institute for Homoeopathy and Integrated Ayush Wellness Centre at Azara, Guwahati on 12th January 2024. A total amount of Rs. 53.89 cr has been sanctioned for […]