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The Economic Times

Early-stage VC z21 Ventures raises $20 million in first close of second fund

Founded in 2022 by healthcare focused software-as-a-service (SaaS) unicorn Innovaccer cofounder and CEO Abhinav Shashank and former Innovaccer executive Raj Shekhar Singh, z21 Ventures runs as a collective of Indian-origin tech executives in the US.

Business Standard

Board of Bajaj Healthcare approves preferential allotment of shares and warrants

At meeting held on 19 September 2024

The Economic Times

Max Healthcare shares fall 1.25% as Nifty gains

The stock quoted a 52-week high price of Rs 979.8 and a 52-week low of Rs 531.05.

The Economic Times

Apollo Hospitals Enterprise Share Price Today Live Updates: Apollo Hospitals Enterprise Closes at Rs 7035.90, Achieving 3-Month Returns of 13.97%

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Mint

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race?

Aster DM Healthcare has dismissed speculation about a potential merger with Blackstone-backed Care Hospitals. A merger between the two entities would potentially create one of the largest healthcare networks in India.

The Economic Times

Aster DM Health, Quality CARE inching closer to a merger deal

The merger between Aster DM Healthcare and Quality CARE India is nearing completion, with a deal expected by month-end. The merged entity, Aster DM Quality CARE, will become India's second-largest listed hospital chain. Blackstone and TPG will hold significant stakes but without additional control rights.

The Economic Times

Technical Breakout Stocks: BSE, ICICI Bank and Hero MotoCorp hit fresh record highs on Wednesday; buy, sell or hold?

Investors showed interest in bank stocks, while consumer durables, energy, oil & gas, healthcare, and IT stocks experienced selling pressure.

The Economic Times

Buy Krishna Institute of Medical Sciences, target price Rs 3300: HSBC

Krishna Institute of Medical Sciences Ltd., incorporated in the year 1973, is a Small Cap company (having a market cap of Rs 21735.55 Crore) operating in Hospitals & Allied Services sector.

The Economic Times

Mankind Pharma board to meet this week to consider fund raising

Mankind Pharma is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations and consumer healthcare products.

The Economic Times

Panacea, Sanofi settle patent litigation over hexavalent vaccine

Panacea Biotec has settled a patent infringement case with Sanofi Healthcare India over a hexavalent vaccine. Sanofi will not launch its Shan6 vaccine in India and will withdraw its opposition to Panacea's patent. Panacea will forgo claims for damages. The Delhi High Court disposed of the suit on September 13, 2024.

Business Standard

EaseMyTrip.com strengthens its presence in medical tourism sector

With acquisition of minor stakes in Pflege Home Healthcare and Rollins International

Business Standard

Board of Easy Trip Planners approves investment in Rollins International and Pflege Home Healthcare

At meeting held on 17 September 2024

Business Standard

EaseMyTrip enters medical tourism; board approves Rs 90 crore acquisitions

EaseMyTrip has acquired a 30% stake in Rollins International for Rs 60 crore and a 49% stake in Pflege Home Healthcare for Rs 30 crore

The Economic Times

Panacea Biotec, Sanofi settle patent infringement suit

Panacea Biotec has settled a patent infringement dispute with Sanofi Healthcare India regarding its fully liquid hexavalent vaccine, EasySix. Sanofi agreed not to launch its Shan6 vaccine in India and will withdraw oppositions against Panacea's patent amendment application. The Delhi High Court disposed of the suit on September 13, 2024.

The Economic Times

EaseMyTrip forays into medical tourism industry

EaseMyTrip.com has acquired a 49% stake in Pflege Home Healthcare and 30% in Rollins International, marking its entry into the medical tourism sector. This move aims to integrate wellness and healthcare services into its travel solutions. The medical tourism industry is currently valued at USD 7.69 billion and is expected to grow significantly by 2029.

CNBC TV18

EaseMyTrip forays into medical tourism with two acquisitions worth ₹90 crore

EasyMyTrip Share Price | Last month, the company's co-founder Prashant Pitti told CNBC-TV18 that the company plans to keep prioritising profit growth, with a stronger focus on expanding into non-air travel services and international markets.

The Economic Times

Max Healthcare shares gain 0.08% as Sensex rises

A total of 20,948 shares changed hands on the counter till 11:01AM (IST)

The Economic Times

Lightspeed may lead $50-60 million round in healthcare company Qure.ai

Venture capital fund Lightspeed will lead a $50-60 million investment in Qure.ai through its growth fund. Sources said the VC fund will invest around $20-25 million in the AI company and is looking to buy some secondary shares as well.

The Economic Times

Polymed lines up ₹750 crore for expansion, buys over two years

The company last month raised ₹1,000 crore through qualified institutional placement (QIP) and has ₹150 crore as free cash flow to fund its growth plans. Polymed makes disposable medical items, such as IV cannula, blood bags, blood collection tubes, and infusion and transfusion sets. About two-thirds of sales come from infusion therapy products. The company spends 2% of revenue on R&D.

Business Standard

Fabtech Technologies files draft papers with Sebi to raise funds via IPO

Fabtech Technologies -- a turnkey engineering solutions provider for the pharmaceuticals, biotech and healthcare industry -- has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The Mumbai-based company's proposed initial public offering (IPO) is entirely a fresh issue of up to 1.20 crore equity shares. The offer also includes a reservation for a subscription by eligible employees, according to the draft red herring prospectus (DRHP). The company may raise up to Rs 10 crore through the pre-IPO round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the IPO to the extent of Rs 120 crore will be used for funding the working capital requirements of the company, and Rs 30 crore for pursuing inorganic growth initiatives through acquisitions, and general corporate purposes. Fabtech Technologies, part of the Fabtech Group was incorporated as Globeroute Ventures Private Ltd. The company demerg

Business Standard

Australian markets hit record high

Energy and healthcare stocks lagged, helping limit overall gains in the broader market. The benchmark S&P/ASX 200 rose 0.27 percent to 8,121.60 while the broader All Ordinaries index finished 0.21 percent higher at 8,341.10.

The Economic Times

Laurus Labs opens new R&D facility in IKP Knowledge Park, Hyderabad

Laurus Labs has inaugurated a new R&D facility at IKP Knowledge Park near Hyderabad, investing Rs 250 crore. The 200,000 square foot center will support their CDMO business and create over 800 jobs. The facility aims to develop innovative solutions for unmet medical needs, according to CEO Satyanarayana Chava.

Business Line

Wockhardt clinches BIRAC innovator award for novel antibiotic

The drug addresses a significant medical need, as existing treatments like Azithromycin face resistance issues or lack comprehensive coverage of respiratory pathogens

Hindustan Times

Elon Musk 'Voyager' has 20 bodyguards who follow him everywhere, even bathroom: Report

Elon Musk's security team includes 20 personnel and medical staff. After escalating threats, he significantly increased his security measures, costing millions.

The Economic Times

IIIT Hyderabad launches online course on AI for medical professionals

IIIT Hyderabad has launched a 12-week online course on 'AI for Medical Professionals' in collaboration with NAMS and IHub-Data. The course aims to equip medical professionals with skills to understand and apply AI technologies in clinical settings. It includes video lectures, weekly sessions, case studies, quizzes, and assessments, leading to certification upon completion.

The Economic Times

Apollo Hospitals Enterprise Share Price Today Live Updates: Apollo Hospitals Enterprise Closes at Rs 7019.15 with Notable Trading Volume

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The Economic Times

Technical Breakout Stocks: Home First Finance, Muthoot Finance & Krishna Institute hit fresh record highs; time to buy?

Stocks that hit fresh record highs on Friday include Home First Finance, which rose by more than 6%, Muthoot Finance, which gained over 1%, and Krishna Institute of Medical Sciences, which closed with a 1% increase.

The Economic Times

Sebi exempts Spice Healthcare from making open offer for SpiceJet shareholders

Sebi has exempted Spice Healthcare from making an open offer to SpiceJet shareholders upon acquiring additional shares, with conditions including a longer lock-in period. SpiceJet also announced new board appointments as it aims to bolster its financial health and meet various obligations.

Business Standard

Sebi exempts SHPL from making open offer for SpiceJet shareholders

Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline. The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday. Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms. The watchdog has given the exemption subject to the condition that the shares acquired by the entity on exerc

The Economic Times

No cap on number of tourists visiting Bhutan: CMO Bhutan Tourism Carissa Nimah

Bhutan's sustainable development fee has not deterred tourists, with no cap on visitor numbers. The country charges USD 100 per night for foreign visitors, except Indians who pay Rs 1,200. Bhutan promotes a 'High value, Low volume' tourism policy, focusing on environment conservation and sustainability. The revenue supports free healthcare, education, and infrastructure projects.

The Economic Times

Technology sector poised for recovery; Coforge, HCL Tech could give 17-20% return in 1 year

The technology sector is set for a strong recovery, driven by increased investments and new technologies like Generative AI. Key sectors such as BFSI, healthcare, and manufacturing are expected to lead this growth. Service vendors and Global Capability Centers will play crucial roles in this expansion, with companies like HCL Technologies and Coforge positioned for significant gains.

The Economic Times

Hospital stocks’ growth outlook positive: HSBC

HSBC has given a 'buy' rating to Krishna Institute of Medical Sciences and Apollo Hospitals, while assigning a 'reduce' rating to Global Health and Narayana Hrudayalaya. The brokerage sees a positive growth outlook for the hospital sector due to rising demand for quality healthcare, with several hospitals planning significant bed additions in the coming years.

The Economic Times

Polymatech enters MENA with $16.2-million Bahrain funding

Polymatech designs, manufactures, packages, and assembles opto-semiconductor chips and modules. Opto-semiconductors are electronic devices that either emit or detect light, and are used in a variety of applications, including medical lighting, large-area lighting, cell phone backlights, agriculture, PCs, and laptops.

Business Line

Taking critical diagnostics services right to people’s doorsteps

Molbio Diagnostics aims to revolutionize healthcare with portable medical devices, targeting a ₹2,000 crore turnover in 4-5 years CEO Sriram Natarajan said that he would like the company to play a much bigger role, where it can pull in a lot of ideas and resources, and truly take it to the global level

The Economic Times

Employee healthcare platform Onsurity raises $26 million from Creaegis, others

Creaegis invested Rs 176.4 crore, while Nexus Venture Partners and Quona Capital contributed Rs 31.4 crore and Rs 11.9 crore, respectively.

Business Standard

Max to buy 64% stake in Jaypee Healthcare at Rs 1,660 cr valuation

Move to help Max establish foothold in North India region

Business Standard

'Use of fire-resistant upholstery fabrics must in non-domestic furniture'

The government has introduced stringent regulations mandating the use of fire-resistant upholstery fabrics in non-domestic furniture, a move expected to improve public safety with respect to fire-related tragedies. Effective from October, the Quality Control Order (QCO) now requires all upholstery components used at public spaces to comply with the Bureau of Indian Standards (BIS) norms. The QCO applies to upholstered composites and fabrics used in non-domestic furniture found in public areas such as offices, malls, airports, restaurants, underground shopping complexes, museums, hospitals, places of worship, and educational institutions. The order is also applicable on all imports of complete furniture or sub-assemblies having upholstered fabric meant for public use, however relaxation till March 31, 2025 has been provided on the request of industry. "This decisive action underscores the government's commitment to enhancing fire safety in public spaces and ensuring that all ...

The Economic Times

Tech View: Nifty forms red candle on daily chart. What traders should do on Monday

Despite starting on a positive note, the Nifty ended the week with a slight dip. Siddhartha Khemka from Motilal Oswal Financial Services pointed out that besides oil & gas, FMCG, and healthcare, most sectors closed lower, contributing to the market's loss on Friday.

CNBC TV18

Max Healthcare to acquire controlling stake in Jaypee Healthcare for ₹1,660 crore

Jaypee Healthcare owns three hospitals in Uttar Pradesh, including the flagship 500-bed Jaypee Hospital in Noida, which is NABH and NABL accredited. Shares of Max Healthcare Institute Ltd ended at ₹907.40, down by ₹5.20, or 0.57%, on the BSE.

Business Standard

Outcome of board meeting of Max Healthcare Institute

At meeting held on 13 September 2024