Healthcare Financial News

Krishna Institute of Medical Sciences surged 4.4% on NSE after the company announced that it has entered into a definitive agreement for acquiring a 100% stake in Chalasani Hospitals. “Pursuant to the approval of the Board, we are pleased to inform that the Company has entered into a definitive agreement for acquisition of a 200-bed multi-specialty hospital at a prime location in Vizag,” informed the company via a filing to the stock exchanges.

Union Bank of India has received bids for five of the 25 non-performing asset (NPA) accounts it put up for sale. The accounts that received bids from asset reconstruction companies such as JC Flowers ARC includes Jaypee Healthcare, Saraiwwalaa AGRR Refiners Limited, RCM Infrastructure and is looking to recover 15%-89% by selling these accounts. Prudent ARC submitted a bid for Saraiwwalaa AGRR Refiners, while JC Flower Asset Reconstruction Limited bid Rs. 61 crore for JP Healthcare. Maximus ARC Limited placed a bid of Rs. 27 crore for RCM Infrastructure. CFM ARC bid Rs. 16.29 crore for Green World International and Ramchand Baboo Mall & Company. All bids fall under the 100% upfront cash category. The bank received the bids on June 27 and plans to proceed with the Swiss auction based on the anchor bids on July 5. The highest bids received for each account will serve as the floor price during the auction. During the Swiss challenge, if a counter bid exceeds the floor price by a minimum markup of 5% to 15%, the original bidder will be given a chance to match the counter bid. If the original bidder matches the counter bid, they will be declared the successful bidder. If no counter bids are received, the original bidder will win by default.

Q1: EconomicTimes.com: ADGHW was a great success and helped to raise Abu Dhabi’s profile on the healthcare stage. How will DoH look to follow this up over the short term? Beyond the inaugural event in May, Abu Dhabi Global Healthcare Week (ADGHW) will serve as a year-round platform for open, inclusive exchange and joint action for a healthier world. It will also serve as a platform for an ongoing, borderless partnership aimed at fostering cross-sector collaboration.

Rishi Shah, an Indian-American entrepreneur, has been sentenced to seven and a half years in prison for his central role in a $1 billion fraud scheme linked to his healthcare advertising startup, Outcome Health. This case has reverberated through major financial entities and highlighted issues of corporate governance and accountability.

Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official said. The India-UK talks for the proposed free trade agreement (FTA) began in January 2022. The 14th round of talks stalled as the two nations stepped into their general election cycles. The official said the two sides are in touch, and the next round would start this month only. Britain's newly-elected Prime Minister Keir Starmer spoke to Prime Minister Narendra Modi on Saturday and said he stood ready to conclude an FTA that worked for both sides.

Sojan Joseph, a mental health nurse in the National Health Service (NHS) who migrated from Kerala 22 years ago, is among the new crop of Labour members of Parliament elected to the House of Commons in the UK general election this week. Joseph, 49, connected with the voters at the doorstep with his pledge to ensure more mental health services in his constituency and succeeded in making a dent in the Conservative stronghold of Ashford in Kent, south-eastern England. In defeating Tory stalwart and former minister Damian Green, Joseph also dealt a blow to the anti-immigration rhetoric of the right-wing candidates in a seat where the far-right Reform UK came in third place after the Tories. «I am humbled with the trust you all placed in me and fully aware of the responsibilities that come with it. I will work hard for everyone in Ashford, Hawkinge and villages,» said Joseph in his acceptance speech on Friday.

private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified. ChrysCapital Advisors, India's largest PE fund, owns about 80% in GeBBS, which it acquired in 2018 for $140 million, at a valuation of $175 million. The founders of GeBBS will also part-sell stakes in this round, said the people. Healthcare Admin Services

Ghaziabad, a vital part of the Delhi NCR, is making significant strides in the residential real estate market. Known for its relatively affordable properties compared to areas like Gurgaon and Noida, the city is experiencing increased activity driven by major infrastructural developments.

cybersecurity professionals, especially at the leadership level, are more in demand than before. Organisations have started to consider cyber as a key enterprise-wide risk that can not only pose financial losses but also tarnish reputations, destroy customer trust, and even threaten public safety, says Anand Venkatraman, Partner, Deloitte India. The stakes are higher in today’s interconnected digital landscape, and this calls for robust cyber defences and risk management strategies. There is a clear surge in demand for cyber insurance so that organisations can offset or transfer some financial damage from this risk. The areas of demand

In FY14, the headline inflation in the country stood at 9.4%. In a matter of 10 years, the headline inflation has dropped to 5.5% in FY24, according to data provided by the Ministry of Finance.

29-year-old Rishika* is feeling better now. However, she believes there is always a scope of improvement. “…periodic fine-tuning is always needed,” she told Financial Express.com.

Despite being able to work with AI more fluently than others, as per a LinkedIn study, the developing mindset of the freshers is now becoming a pain point for GCCs, all of whom are trying to find ways to temper expectations and help them understand the end-to-end needs of the engineering and software assembly lines. «My biggest struggle with this generation is that they talk only about AI and ML. Just out of college, they do not understand that in a sector like banking, AI cannot be deployed just like that, that banks are bound by lots of regulations,» Srikanth Gopalakrishnan, CIO for people and head of the India technology centre, Deutsche Bank Group, said to ToI.

self-assessment conducted by the Indian government, it has come to light that a vast majority of the country's public health facilities are falling short of essential standards mandated by the government. This comprehensive evaluation covered over two lakh healthcare facilities, encompassing district hospitals, sub-district hospitals, community health centers, primary health centers, and Ayushman Arogya Mandirs. Detailed Assessment of Public Health Facilities According to data published on the Indian Public Health Standards (IPHS) dashboard, only approximately 20% of the assessed facilities achieved a score of 80% or higher, meeting the required benchmarks for infrastructure, human resources, drugs, diagnostics, and equipment. This indicates a significant shortfall in meeting basic healthcare standards across the majority of public health facilities in India.

market continued its momentum through this year as well with as many as 34 listings so far in the first half. This was higher than the debuts seen in H1 of previous year. The fundraising of Rs 26,272 crore, however fell short of the previous two years likely due to the absence of mega issues. Investors' reception also remained positive with only one failed IPO.

Finance Minister Nirmala Sitharaman will present the complete budget for the fiscal year 2025 in July. As usual, taxpayers have an extensive list of desired items for the finance minister. Senior citizens make up a significant portion of the tax-paying demographic in India since they also earn income, often in passive ways. Nevertheless, with the rising cost of living, senior citizens might feel that the existing income tax benefits need to be increased. Three experts tell ET Wealth Online what senior citizens want from the upcoming Union Budget 2024. Also read: Section 80C deduction in Budget 2024: Will the government increase Section 80C limit under the old income tax regime in Budget?

protein supplements, powders and shakes without authorised medical certifications or with misleading labelling claims, said people with knowledge of the matter. The Food Safety and Standards Authority of India (FSSAI) is set to release tighter regulations on protein supplements, after it conducted a study which revealed that dozens of protein powders and supplements were being sold at store shelves, gymnasiums and e-commerce platforms with false and misleading claims, said one of the persons. «There are a lot of protein products in the market which are more harmful than beneficial,» said an FSSAI official, who did not wish to be identified. «The idea is to have stringent norms so that there is no damage to public health.» The crackdown could lead to a ban on sale of scores of such products which do not meet the new norms, according to people in the know.

Stocks that are trading heavily or have substantial price changes on Friday: Nike, Kura Sushi fall; Infinera, Protagonist Therapeutics rise

@Krutrim AI Cloud GPUs on demand, priced not in $ but in ₹for all devs in India! Share in comments what you would build using AI for India! Top 10 innovative ideas will get their AI cloud needs sponsored completely by us! Contest ends Sunday midnight."This initiative is designed to foster innovation and support the local developer community by removing the barrier of foreign currency pricing, which often deters smaller startups and individual developers from utilizing advanced AI resources. By pricing the service in rupees, Ola Electric aims to democratize access to high-performance computing capabilities, enabling more developers to leverage AI in their projects.The announcement has already generated significant buzz, with developers and tech enthusiasts flocking to the comments section to share their ideas.

Ashiana Housing Ltd, a leading real estate developer in India, has announced the successful launch of Phase III of its premium residential project, Ashiana Ekansh, situated in Jaipur’s burgeoning Mansarovar Extension area. The launch garnered remarkable traction, with a significant 92 out of 112 units sold on the first day, translating to impressive sales of Rs 82 crore.

7th Central Pay Commission: Since the implementation of 7th Pay Commission, the Central Government Health Services (CGHS) has seen multiple changes, including revision in subscription rates, rules for entitlement of wards and limit of treatment. In April this year, one more change was announced – the Centre asked all CGHS beneficiaries to link their CGHS ID with Ayushman Bharat Health Account (ABHA) ID. But now, the decision has been put on hold until further notice.

The newly announced UCITS ETF will focus on healthcare and will be launched using HANetf's full-service white-label platform. As of 31 March, Harbor Capital had $56.8bn in assets under management. Speaking about the decision to partner with HANetf, Charlie McCain, CEO of Harbor Capital, said the Europe is the second largest regional ETF market in the world, with 16% of global ETF AUM. HANetf and EMQQ upgrade Emerging Markets Internet ETF to Article 8 «Working with HANetf provides us with a simple solution to bring our investment capabilities and brand into the European market – ...