Healthcare Financial News

Motilal Oswal Financial Services believes the RBI will keep interest rates unchanged in 2023. In an interview with Mint, he said the RBI will cut rates only after the US Federal Reserve. Talking about the IT sector, he said valuations are attractive after sharp underperformance hence long-term investors can gradually accumulate in a staggered manner.

Medtronic is seeking to streamline its portfolio and focus on its higher-growth assets, such as its heart and diabetes devices, by divesting the two units which generated approximately $2.2 billion in revenue in the 2022 fiscal year according to the company. The businesses that Medtronic would shed would be moved to a new company majority-owned by Carlyle, the sources said. Medtronic would retain a stake in the new company of more than 35%, the sources added.

Advent International on Friday announced the completion of its majority acquisition of Hyderabad-based listed contract development and manufacturing organisation (CDMO) Suven Pharma. Advent acquired 50.1% stake in Suven at an agreed price of Rs 495/share in December last year a firm promoted Venkat Jasti and his family members for Rs 6,313 crore paying ₹495 per share.

₹2700 crore in Niva Bupa, a general insurance company, to its joint venture partner Bupa, an international healthcare company headquartered in the UK. The equity fund company is also looking at raising around ₹1,100 crore in primary capital which will value it at a post-money valuation of ₹12,600 crore. The company is looking at listing on Indian bourses in the next 12-15 months, a senior fund official said.

True North on Friday said that it has agreed to sell 20% of its stake in Niva Bupa, a health insurance company, to its joint venture partner Bupa, a UK-based healthcare services and insurance provider. ET first reported on 23 June that Bupa was looking to pick up as much as 15-20% stake from True North. True North is selling the 20% stake at a valuation of Rs2,700 crore, the PE firm said in a statement. The transaction is subject to insurance regulator IRDAI’s approval. This transaction will mean Bupa becomes Niva Bupa’s majority shareholder, with its shareholding set to increase to approximately 63%.

Arvind Kejriwal on Friday said all district hospitals in Punjab will be renovated and the first revamped hospital will be inaugurated on the occasion of Gandhi Jayanti on October 2. The Delhi chief minister hoped that the party would strengthen the healthcare system in Punjab just like the national capital.

Brisbane Lions director and healthcare millionaire Cathie Reid has made a dash back from Paris Fashion Week to watch her team in Saturday’s AFL grand final in Melbourne.

Indian pharmaceutical industry stands at the crossroads of tradition and technology, AI emerges as a transformative force poised to revolutionize drug discovery, development, and patient care. Imagine algorithms sifting through mountains of molecular data, predicting drug interactions, and customising treatments with unparalleled precision. While the use of AI is still in early stages in the Indian pharmaceutical industry, it is only a matter of time be it will be used extensively.

₹537.80 apiece on the BSE. The FMCG major Emami acquired 26% equity stake in Axiom Ayurveda Pvt Ltd, which markets beverage products under the brand “AloFrut". Apart from AloFrut, which constitutes the key business of the Axiom Ayurveda, the company has a unique range of carbonated beverages that includes mocktails and energy drinks.

In a country, where cardiovascular diseases have turned into a silent epidemic of sorts, and account for at least 27 per cent of deaths, the matter of taking utmost care of heart health is more important than ever. Every year, World Heart Day is observed on September 29. On this day, several healthcare providers work along with government and international organisations to promote awareness about various types of cardiovascular diseases, as well as the myriad lifestyle habits and poor diets that contribute to the deterioration of heart health.

Temasek is paring its holding in Manipal Hospitals six months after it bought a controlling stake, but the Singapore sovereign wealth fund (SWF) will continue to hold 51% in the hospital chain, people aware of the development said. Temasek-owned Sheares Health is in advanced negotiations to sell 8-9% in Manipal Health Enterprises to Abu Dhabi fund Mubadala and Brunei Investment Authority (BIA), another SWF, at an enterprise valuation of $5 billion, or about ₹40,000 crore, they said. The valuation is the same as when Temasek acquired an additional 41% to take its holding in the Bengaluru-headquartered hospital chain to 59%.

₹1.6 trillion in annual productivity gains and support 45.9 million jobs by 2030, a report said on Thursday. The jobs are likely to be created in healthcare, education, and agriculture sectors by 2030, representing 9% of total jobs in the country, according to Amazon Web Services report (AWS), conducted by global professional services firm Accenture.

₹45 crore, Arvind Kejriwal launched a sharp attack against Prime Minister Narendra Modi and the BJP. Delhi Chief Minister asked if PM Modi would resign in case CBI finds nothing in the inquiry. “Just as nothing was found in all the previous inquiries, similarly if nothing is found in this inquiry too, will he (PM Modi) resign for making a false inquiry?" he asked.

Temasek is paring part of its controlling stake in Manipal Hospitals six months after it doubling down in the Bangalore headquartered hospital chain. Temasek owned Sheares Health, is in advanced negotiations to sell 8-9% of its 59% interest in Manipal Health Enterprises to Abu Dhabi' fund Mubadala and the sovereign wealth fund of Brunei, Brunei Investment Authority (BIA), said people in the know.

Delhi Chief Minister and Aam Aadmi Party Chief Arvind Kejriwal on Thursday took a dig at the central government after the Central Bureau of Investigation (CBI) registered a preliminary enquiry to probe 'alleged' irregularities in construction and renovation of his residence. «What can we expect from a 'Fourth pass Raja'? They want me to bow down before them. They want to break me.

Max Healthcare Institute Ltd. traded 1.13 per cent down at Rs 566.65 on Thursday at around 10:51AM (IST), while the benchmark BSE Sensex declined 30.91 points to 66087.78. As many as 2,998 shares changed hands on the counter with a total value of Rs 0.18 crore.

Volvo Cars has consistently positioned itself as a torchbearer of this movement by taking ambitious strides toward sustainability. To that end, it aims to make 50% of its sales from purely electric models by 2025 and has committed to becoming a fully electric car company by 2030. However, electrification is not enough. Volvo Cars is also actively working towards reducing all of its direct and indirect emissions by tackling CO2 within its supply chain and operations, indicating its commitment to embracing the circular economy. As an interim step towards achieving its goal of becoming carbon-neutral by 2040, Volvo Cars aims to reduce the carbon footprint lifecycle per vehicle by 40% between 2018 and 2025. While Volvo Cars is internally working towards greener milestones, it is also combining its commitment to eco-consciousness with its dedication to social responsibility. The latest demonstration of this commitment comes in the form of Volvo Car India’s #PoweringLife initiative, through which Volvo Car India is donating solar panels to hospitals and biodiversity parks across the Delhi NCR. Watch how the #PoweringLife initiative is leveraging solar panels to light up hospitals and biodiversity parks across Delhi NCR.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) As per the report, there were 149 million persons aged 60 years and above in 2022 (as of 1 July), comprising around 10.5% of the country’s population. And, by 2050, this population will double to 20.8%, with the absolute number at 347 million.

healthcare fraud and engaging in money laundering. According to court documents and evidence presented at trial, Yogesh Pancholi, 43, owned and operated Shring Home Care Inc, a home health company based in the US state of Michigan.

Doceree, which operates a network of physician-only platforms for programmatic messaging, on Wednesday said it has raised $35 million in a Series B funding round led by Creaegis, Existing investors Eight Roads Ventures and F-Prime Capital also participated in the round, as per a statement. The funds will enable Doceree to accelerate product development, augment technologies, scale global expansion and expand the team, it added.

Hindustan Times, adding that a draft memorandum of understanding (MoU) has been finalised after negotiations between the two sides. Taipei is looking towards New Delhi to address the manpower shortage in key sectors such as manufacturing, including factories, construction projects, household workers, and agriculture and fisheries, the sources claimed.