Category — Healthcare
According to the article, Philips India has showcased its ‘hospital on wheels’ which hosts facilities from an ambulance to ICU.
This ‘hospital on wheels’ is part of an intensive awareness campaign called IntelliSafari where Philips will target smaller hospitals, nursing homes, and clinics in Tier 2 and Tier 3 cities in India covering 300 clinicians over the next month, familiarizing them with state-of-the-art healthcare technology, available at a low cost.
With IntelliSafari, Philips is trying to demonstrate that advanced technology does not always mean expensive technology. The goal of the program is to bring new life saving technology closer to the masses at an affordable price.
A healthcare provider’s responsibility is to provide early and accurate diagnosis along with the best possible treatment, but the price to attain such treatment is often a stumbling block for many small hospitals. Now, with the help of Philips, smaller hospitals can focus on providing patients with the best possible care.
The van is set to travel across key cities in Kerala, before moving on to Karnataka and other parts of India, covering 80 cities in four weeks.
July 31, 2013 No Comments
Skanray Technologies, a medical equipment manufacturing Company based in Mysore, acquired Larsen & Tourbo’s healthcare business earlier this year. Skanray was founded by a team of 40 medical technologists and engineers and manufactures high-frequency X-ray machines and other medical devices. TThe company has a manufacturing facility at Mysore, India but is also setting up assembly plants in Brazil and West Asia. Skanray is wholly-owned by promoters and angel investors, which includes Arun Kumar, a Bangalore-based entrepreneur.
While Skanray has largely been an exporter, the company now plans to take advantage of L&T’s distribution presence across India to widen its reach. A joint venture agreement with a global partner for ultrasound machines is also planned.
May 1, 2013 No Comments
St Jude Medical Inc (a global medical device company based in the US) will make its latest technologies available to patients in India. It will launch Quadripolar technology which will help treat patient with heart failure.
According to Kaustav Banerjee, country manager of St Jude, India is a focus market and the company is dedicated to improving the care of patients throughout the country. The firm, which has its India headquarters in Hyderabad, is focusing on educating physicians and patients about the symptoms and potential treatment options for cardiac problems such as arrhythmia, heart failure, sudden cardiac arrest, and heart valve repair and replacements.
April 25, 2013 No Comments
According to the Economic Times, Milind Shah, the India head of Medtronic, now offers its cardiac implants to patients in easy monthly installments. The firm, which started experimenting with the EMI (equal monthly installment) model in 2010 among the poor miners of Durgapur, is now offering the plan through 60 hospitals across 18 cities where patients can buy 10 of its flagship products such as stents, pacemakers and defibrillators.
Medtronic’s direct-to-heart model finds an able parallel in the Tata Capital-backed startup Mya Health Credit that offers personal loans for planned surgeries, in what could be a new wave in Indian healthcare to make super-specialty treatment affordable. Just a month old, Mya disburses loans between $1,400 and $8,300 at an interest rate close to 10 percent with a 12-month term
Established hospital chains such as Metro are pitching in with their own schemes, alongside companies like Medtronic that are bringing to healthcare the world of EMIs, a domain that was so commonly deemed with appliances, vehicles and homes.
Shah of Medtronic says that a patient must have at least one earning member in the family who is ready to take a psychometric test prepared by the company, that would measure his sincerity and willingness to pay back on time in order to qualify for EMI. The test also assesses if a patient really needs the EMI assistance.
What this means
Without a vibrant third party payment system, India’s medical market demands creative solutions. Companies that lead the way will find more profits and a willing, grateful clientele.
April 18, 2013 No Comments
According to Visiongain (a London-based business information provider), the medical devices market in India is expected to be worth $11 billion by 2023. India is one of the most lucrative markets for medical devices globally. Indeed, the Indian medical devices market generated $3 billion in sales in 2011. The opportunities lie in the emerging regions of the country.
Seeing that the market relies largely on imports, the country provides significant opportunities for multinational medical device manufacturers. The domestic manufacturers are mostly engaged in low-value products like syringes, needles, catheters, blood collection tubes, medical electronics, medical equipment and implants.
Moreover, the Indian medical devices market will benefit from the expansion of health insurance, which currently is the fastest growing non-life insurance segment in the country and from patient demographics, particularly with the rise in the country’s aging population.
However, according to the report, the lack of strict regulation of several medical devices in the country will be a challenge in the future as the devices reaching the market become more complex and the end-users demand quality for the price.
April 17, 2013 No Comments