Healthcare firm Max India faced a pleasant response from the market, as it agreed to sell a 26 % stake in its subsidiary, Max Healthcare Institute, to a South African company. To be priced at Rs 516.5 crore, the business association has injected optimism in financial market.
As the news hit the market, shares rallied and reached Rs 190.05 on the Bombay Stock Exchange, after getting a high of 6.82%, while on the National Stock Exchange, it saw a rise of 9% to Rs 194.
Dr Reddy's Laboratories and Brisbane based Alchemia Ltd, finally got an approval to launch the three generic products in USA.
The US Food and Drug Administration (USFDA) sanctioned it. These Fondaparinux Sodium injections will be used for the curing deep vein thrombosis (DVT).
Dr. Reddy’s have been allotted a manufacturing license under which the injection will be entering the US markets.
Parkway Holdings’ said in a disclosure to the stock exchange on Tuesday that its non-executive vice chairman Richard Seow should not be an eligible contestant for an independent director of the Singapore firm due to his voting agreement with Fortis Healthcare.
Singapore’s stock exchange had earlier asked Parkway’s nominating committee, to verify if Mr Seow would be appropriate as an independent director.
The committee polled and the result was 3-1 against Mr. Seow continuing as an independent director. He however said that he has and wil in the future act independently.
Senior officials claims that , SevenHills Hospital to be Asia's largest private multi-speciality medicare institution so far, it is equipped with 1500 beds and will be inaugurated by the President Pratibha Patil on Sunday in Mumbai SevenHills hospital is constructed on 35 acres of land in Mumbai at Powari in Andheri east, incurring an approximate cost of Rs 3.5 billion. Jitendra Das Maganti from Vishakhpatnam is the promoter for this medicare institution.
Healthcare major Fortis, along with the family of promoters including Malvinder Singh, has made a counter bid for Parkway Holdings, valuing it at $3.1 billion. This has been done so that they can stop the bid process of their Malaysian competitor, Khazanah for the Singaporean hospital chain.
The step comes after Fortis was surprised by Khazanah bidding for the chain for $835 million as initial offer during May. Fortis is a stakeholder in Parkway and holds 25 per cent stake. Khazanah, on the other hand, is a majority stakeholder and owns 51.5 per cent in it.
The Women's health care segment is supposedly the one that has been kept empty and in order to reap out the entire chunk of benefit, Elder Pharmaceuticals Limited has planned to penetrate in health care and Nutraceuticals (functional food) segment by launching a range of products.
The company officials stated that the 720 crore pharmaceutical major shall offer a diverse range of products in the area of treatment and nutrition that deals with healthcare of women.
Zydus Cadila, the integrated global healthcare company that its anti-diabetic drug– ZYOG1, has been accepted by the Drug Controller General of India (DGCI).
This approval, said the drug company, will allow it to sell the medicine in India, which has one of the largest population of diabetic patients in the world.
Zydus had applied for the approval in early June and it also plans to sell it in the overseas market as well.
A private news agency, ET, reported on Monday that many Indian banks have given their assurances to Fortis Healthcare, that they would support its bid for taking over Parkway Holdings.
They are ready to pay as much as $2 billion for the possible takeover of the Singapore-based hospital chain. A battle is going on between Fortis and other foreign funds for the acquisition.
A unique and a noble step has been undertaken by India's IT major HCL Infosystems in collaboration with a new organization Wellogic, which is one of the leading healthcare platforms and software providers in international level.
The partnership intends to provide better opportunities for healthcare solutions in the country. Both the companies are concentrating on those factors which will enhance the healthcare services from their sides.
It has been reported that with the unique ID scheme, the Government will make sure that patients are safe and sound in a particular hospital and are not exposed to any physical danger.
The Government has also planned to use computers for keeping records of all the patients, which will include details regarding their date of admission in the hospital, medicines given to them, their medical tests, bills of the patients etc.