Sunday, January 1, 2012

Online Diagnostics business news: mydigitalfc.com : Thyrocare to invest Rs 1,000 cr in imaging units

Nueclear Healthcare, a division of Mumbai-based diagnostic services provider Thyrocare Group, is investing Rs1,000 crore in 120 molecular imaging centres, for which it is joining hands with medical technology major GE Healthcare.

Aimed at early detection of cancer, these centres will come up in three phases ending 2015. While GE Healthcare will be the technology solutions partner in the venture, private equity CX Partners will fund 35 per cent of the total investment and the rest will be pumped in by Thyrocare and its promoter A Velumani.

"Last year Thyrocare had a turnover of Rs 120 crore. We are a cash-rich company without debt. But for the new company we will be borrowing from EXIM Bank and if needed also look at further equity dilution," said Velumani, founder of Thyrocare Group.

CX Partners had recently picked up 27 per cent stake in Thyrocare.

The molecular imaging centres will have 120 advanced PET/CT imaging systems and 12 PET Trace Medical Cyclotrons which produce glucose that helps early detection of 95 per cent of cancers. "While in the US, a PET/CT is available for one million people, in India there is not even one for 15 million. With the high rate of incidence of cancer in India, early detection is going to be vital in the fight against the disease," said Terry Bresenham, president and CEO of GE Healthcare India.

Thyrocare will have the cost benefit of having the systems in bulk from GE, which is also a strong player in molecular technology. GE is also in the process of bringing out low-cost diagnostic technologies for the emerging markets like India. It will invest $50 million in India on such products till 2015, which also includes a PET/CT system at 40 per cent lower cost.

"Currently a PET/CT scan costs Rs 25,000 per test and we will bring this cost down to Rs 10,000 per test making it more affordable," said Velumani.

Online Diagnostics business news: Investinindia.com : Cx Partners invests Rs 188 Crore in medical diagnostics firm Thyrocare Technologies Ltd

Cx Partners reported it had invested around Rs 188 crore in Thyrocare Technologies for the acquisition of a 30 per cent stake. Cx Partners, the private equity firm, will acquire the stake in the medical diagnostics firm, valuing Thyrocare Technologies Ltd at Rs 627 Crore. According to the firm, the funds to be accrued from the sale will go into expansion into radiology diagnostics like CT Scans and magnetic resonance imaging (MRIs).

The transaction is inclusive of a performance-based component, in which Dr. Velumani may receive some additional shares in case the company exceeds the performance requirements. As part of the deal, Ajay Relan, founder of Cx Partners and Vivek Chhachhi, partner at Cx will become board members of Thyrocare.

Thyrocare is a thyroid testing laboratory and also caters to critical diagnostics services related to growth metabolism, cancer, infectious diseases and infertility. Thyrocare follows a centralized laboratory (single location) testing model with a nationwide franchise network for fast-track sample collection and result delivery.

Thyrocare's network processes 50,000 investigations in a day and it has a capacity to process 5, 00,000 investigations per day in its current facilities in Mumbai. It earned Rs 60 crore revenue in 2008-09. It has centralized operations and the same standards of quality control and accuracy in reporting is maintained. It uses Bar-coding and bidirectional interfacing system.

It is planning to open up centers in five more cities including Delhi, Kolkata, Bangalore, Chennai, and Hyderabad. Earlier this year, there were news of private equity firm like Avendus Private Equity Investment Advisors Ltd. and Citigroup Venture Capital International (CVCI) and US based Quest Diagnostics Inc. would buy a major or controlling stake in Thyrocare Technologies Ltd, but there was no development on this deal.

India has Rs. 15000 crore diagnostics services market. Others diagnostic centers functioning are Metropolis, Religare SRL Diagnostics, Dr Lal's Pathology, Piramal Diagnostics (formerly Wellspring) and Anand Labs. TA Associates invested $35 million in Dr Lal Pathlab this year.

CX partners is the PE firm promoted by former Citigroup Venture Capital International head Ajay Relan in 2009. Key investors in CX Partners include Morgan Creek Capital, Goldman Sachs, JP Morgan, Asia Alternatives and Adams Street. In July this year, Cx Partners acquired 20% stake in NTL Electronics India Ltd. for Rs 120 Cr.

The firm's main office and testing venue is in Bristol and has an office and testing venue in Islington, central London, which is convenient for its London clients and partners.

Online link ; http://bit.ly/vDjPsD

Wednesday, December 14, 2011

The Hindu :Hyderabad : Doctors and their money-making mantra

The Hippocratic Oath taken for ethical conduct by doctors appears to have lost its relevance these days.

The tacit understanding between diagnostic centres and a large pool of physicians for referring patients for a variety of diagnostic tests has become a standard practice in the State capital.

Many conscientious medical practitioners themselves concede that many a time, tests which are not required are also prescribed to improve business of diagnostic centres. And these doctors get hefty commissions from these diagnostic centres.

It is an open secret that diagnostic centres survive on prescription.

Patients, who consult a doctor because they charge low consultation fee, are unaware of the fact that many such doctors make up for the ‘low' consultation fee by advising unnecessary tests.

Depending on the kind of test, most physicians directly receive their cut from the diagnostic centres.

Thanks to the mushrooming of diagnostic centres in the State capital, there is intense competition among them to win over a doctor. Typically, super-speciality doctors command 40 to 50 per cent cut in the overall bill, charged to the patient by the diagnostic centres.

Reputed diagnostic centres, however, have devised a novel system. They simply pay a lumpsum amount to the doctor every month.

“Our offer is Rs.1 lakh every month to super-speciality doctors. If the doctor prefers to go by bill by bill commission, for that we give Rs.1,000 for a CT scan, Rs.1,500 for an MRI. For PET CET Scan, the commission is between Rs.2,500 and Rs.3, 000,” a representative of diagnostic centre confided.

Thanks to the huge commissions, sometimes even up to 50 per cent involved, MRI and CT scans are favourites. Similarly, radiology tests like x-ray, pathological tests like blood tests and bone density tests bring around 25 to 30 per cent to the physicians on each bill.

“Kickbacks from diagnostic centres, medical shops and pharma companies to doctors have become a serious issue in Hyderabad. The greed among the doctors is increasing by the day. Ultimately, it is the patient who suffers by undergoing unnecessary tests and spending their hard-earned money. This practice is highly objectionable,” says vice-chairperson of Andhra Pradesh Medical Council, Dr. K. Ramesh Reddy.

Instances wherein doctors demand advance payment from diagnostic centres. “My limit of payment is Rs. 50,000 in a month. Sometimes, we even host weekend parties to the family of the doctors. Of course, the doctor ensures that we get the patients,” medical representative points out.

Online news : The times of India : Mumbai : The doctor’s cut adds to your medical bill by Malathy Iyer

When Mulund housewife Sunita R took her maidservant for an ultrasound scan to a local clinic, she expected the bill to be lower than that charged in swanky clinics or hospitals. But she was shocked to receive a bill of Rs 1,150 for the plain pelvic scan. When she asked the radiologist for an explanation , she was shocked to hear: "Go and ask your general practitioner."

Sunita concluded that the GP obviously had a 'tie-up ' with the radiologist. "Many hospitals charge less for simple scans," she said, adding that she was certain the maidservant didn't need a scan at all. "The doctor saw my anxiety and recommended a scan." Sunita took her maid to another doctor, who prescribed a deworming course.

Consumer activist Mushtaq Parekh dubs Sunita's experience as yet another example of the 'cut practice' , which he insists is rampant in the medical system. A cut is literally a portion of the fee charged from the patient; it is believed that diagnostic clinics offer cuts to doctors for patients referred, consultants to general practitioners and hospitals to GPs. "There is also a cut practice of a different kind between pharmaceutical companies and doctors. The more a doctor prescribes a drug, the more favour he gets," he said.

His reasoning is simple: "Doctors are trained to touch a patient and realize what the problem is. Yet they prescribe a Rs 10,000 CT or MRI scan that ensures they get a cut of at least 30%."

Mentioning a series of lectures organized by a new hospital coming up in the suburbs, a doctor said: "These were supposed to be continued medical education for general practitioners (GPs). But the essence was about the cuts that the GPs could get for recommending patients to specialists attached to the hospital."

The problem with the 'cut practice' is that the patient-doctor relationship suffers. Dr Arun Bal, founder, Association for Consumers Action on Safety & Health (Acash), said: "The cut practice is no doubt a big problem, but it is a function of the commercialization of medicine. Corporate hospitals are known to write out monthly cheques to general practitioners and specialists for referring patients. The hospitals show these payments as marketing costs and seek tax benefits."

He said the cut practice is not a bribe, but more of a commission. "It is like a TV manufacturer giving a cut to his dealers. But when it comes to cut practice in medicine , ethics are at stake. Doctors would be guilty of professional misconduct if they accept a cut from a colleague, diagnostic clinic or corporate hospital."

Parekh feels a quasi-government body or an NGO could help in curbing such practices, but many doctors believe it is a matter of personal choice. "Today, a student spends crores to become a doctor and, on stepping out, realizes that he needs a network to get patients. What can he do but collaborate with others in the business ," a doctor said.

A few doctors said there are many who do not participate in this practice. "It's difficult but not impossible," said an infertility specialist who does not have any referral arrangements.

HOW THE SYSTEM WORKS

Hospitals send marking executives to doctors in the vicinity, promising a commission for every patient referred. Hospitals make cheque payments for such referrals

Diagnostic clinics also set up a similar network. Specialists who do not come in contact with patients directly, too, are known to give a cut to doctors who recommended patients to them

HOW IT AFFECTS PATIENTS

Patients are unaware of the cut practice because they are treated well-be it by a gp, a specialist or hospitals. But the practice:

Inflates medical costs. Some surgeons claim they pay as much as 40% as commission to doctors referring patients

Excessive testing. Doctors put patients through a battery of unnecessary tests to earn a cut. Consumer activist Mushtaq Parekh says doctors have readymade sheets provided by labs and just tick the boxes

Unnecessary surgeries and procedures. Doctoractivist Arun Bal says this is the worst aspect of the cut practice, which is also difficult to prove in court

Link : http://bit.ly/r6aDnw

Online news : Bio Scholar : India to screen entire population for cancer, heart ailment

India will be the only country in the world to screen its entire 125 crore population for prevention of cancer and some other non-communicable diseases in the next five years, Health Minister Ghulam Nabi Azad told the Rajya Sabha Tuesday.

Azad said that the government has already launched a pilot project across 100 districts in 21 states for prevention and control of cancer, cardio-vascular diseases, stroke, and diabetes.

"India will be the first country that will screen its entire population for these diseases. The equipment for screening will be provided by the union health ministry besides chemotherapy of 100 patients per district at a cost of Rs.100,000," he said.

According to the Indian Council of Medical Research (ICMR), India currently has 27 lakh cancer patients while 11 lakh new cancer cases are reported every year.

Friday, December 9, 2011

Online News : Health care Equipment : Pharmabiz : AMDL launches world-class cardiac care equipment to India

Bengaluru-based Advanced Micronic Devices Limited's (AMDL) healthcare division (AMDL Health), a leading provider of medical equipment and devices, has launched the Cardiac Science family of advanced cardiac diagnostic products in India on December 8, 2011 in Mumbai.  AMDL is a subsidiary of Opto Circuits (India) Ltd.

The products are being showcased at the 63rd Annual Conference Cardiological Society of India (CSI), Mumbai, December 8-11 2011. This marks AMDL Health's foray into the Indian cardiovascular market. The products are to be sold under the brands of Cardiac Science, Quinton, Burdick and Powerheart.

"India is the second largest potential cardiovascular market in the world and is expected to reach $589M by 2017," said Arindam Sen, CEO, AMDL. "We are committed to make technologically advanced devices accessible to the Indian healthcare market."

AMDL Health plans to target Tier 1 and Tier 2 cities that are changing the landscape of Indian medical equipment industry.

Powerheart automated external defibrillators (AEDs) are easy to use devices that are utilized for emergency treatment of sudden cardiac arrest (SCA). The proven Burdick and Quinton brands bring ECG, stress test systems, Holter monitors and supplies to physicians' offices and hospitals. Quinton QStress and Burdick ECG products are renowned for their reliability and accuracy.

Online News : New health care venture : Money Life : Manappuram Health Care to invest Rs1,000 crore in 5 years

Manappuram Health Care  is to set up a chain of 50 sophisticated super speciality Medical, dental and diagnostics centres and hospitals in metros and mini metros across India.

Aiming to provide affordable health care, Manappuram Health Care, a venture of the Manappuram Group of Companies, would be investing nearly Rs 1,000 crore over the next five years to set up a chain of 50 sophisticated super speciality Medical, dental and diagnostics centres and hospitals in metros and mini metros across India.

The Kerala-based company, operating under the MAcare brand name, has set up a diagnostics centre and dental hospital at nearby Kaloor in over 17,000 square feet area, VP Nandakumar, chairman, Manappuram Group told reporters here.

When it becomes full fledged, the total investment here would be Rs 50 crore.
The centre would be inaugurated on December 10 by Union minister of state for Agriculture, Food and Public Distribution, KV Thomas.

Read full article http://bit.ly/sg2mAO

Online news : word press : Quest Diagnostics India and 98.4°(R) Retail Chemist Stores Join Hands to Bring World-Class Critical Medical Testing Closer to Your Doorsteps

Quest Diagnostics, the world's leading provider of diagnostic testing, information and services, today announced that it has reached an agreement with the 98.40â chain of retail chemist stores to offer patients the ability to purchase and schedule advanced diagnostic testing services as needed from Quest Diagnostics at several of the chain's retail locations in Delhi and the NCR.

The new service allows patients to purchase any of the more than 3400 diagnostic tests offered by Quest Diagnostics, pay for the test on site at the 98.40â location, and immediately schedule an appointment for test specimens to be collected from their home or office anywhere in Delhi NCR, irrespective of which 98.4 centre they have purchased it from.

All specimens are collected by expert phlebotomists from Quest Diagnostics. Among the tests available will be routine tests like Thyroid, Lipid panels to specialized tests like Genetic testing, Maternal Serum Screens, Advanced testing for infectious diseases, Cancer etc.

"98.40â customers can now experience the convenience of ordering routine and advanced pathology tests from a world class laboratory while making their medicine purchases at the nearest 98.40â location." said Mr. Gautam Thadani, Director, 98.40â. "Ease of ordering, convenience of home collection of samples, world class pathology testing, and access to specialized testing shall make the offering a definite hit with the most valued 98.40â customers. 98.40â customers can expect more such world class offerings, setting new standards in pharmacy retailing", Mr. Thadani added.


Find full story at http://bit.ly/t5VEuT

Friday, July 29, 2011

Online report : Preventive Health Care and Indian industry roles and responsibilities

Health is a basic fundamental right of all citizens and health promotion forms an intrinsic part of health care. According to the World Health Organization (WHO), Health is a state of complete physical, social and mental well-being and not merely an absence of a disease or infirmity.
In recent years, this statement has been modified to include the ability to lead a socially and economically productive life". Preventive health care1 is an important determinant of health since prevention means avoiding or slowing the course of a disease which is essential for a good quality of life. Investment in human capital leads to a healthy and educated populace which is in a better position to contribute to the growth of the economy through its employability, creativity and productivity.

According to industry analysts, there has been a growth of 25 per cent in the preventive health care market over the past five years. There is a growing consciousness about healthrelated issues among people, giving a boost to preventive health check-ups in hospitals.

Annual health check-ups, which were largely the privilege of corporate executives, are now being sought after by the middle class as well.

Read the complete report at http://bit.ly/nkQUEC

5 star diagnostics facility catering to the India's rich and famous : Business review of Health 360 in Mumbai, India : How many people in India can afford these kind of services ???

Review of Health 360 from their online web site :

Nothing in your life is a compromise. Why should your health be any different?

Health 360, India's finest diagnostic and health checkup centre at Marine Lines, Mumbai is established with this philosophy in mind.
With the backing of over 25 years of experience from radiologist Dr. Nilesh Shah, Health 360 takes diagnostic and preventive care in India to an unprecedented level. Offering end to end pathology and diagnostic imaging tests, Health 360 has also installed the world's fastest 64 slice Cardiac CT Scanner and South East Asia's first 32 Channel Whole Body MRI.

Spread over a luxurious setting of 10,000 square feet, the atmosphere coupled with excellent one-on-one service from the Guest Relation Executives, immediately puts one at ease. With the latest medical technology installed in large, spacious rooms, and qualified doctors and technicians, one is ensured of the highest quality diagnostic testing at Health 360. All reporting physicians are trained at the world's finest healthcare institutions to ensure optimal report quality.
One is provided with a variety of full body health checkup plans at Health 360. The plans include a comprehensive range of tests including advanced cancer and cardiac markers, Cardiac CT, and Whole Body MRI. In addition, the world's most advanced Mammography and DEXA Bone Densitometry equipments for breast cancer and osteoporosis screening respectively, are installed at Health 360. With the kind of quality provided at Health 360, test reports are accepted at the leading healthcare institutions in the world.

Health 360 also provides corporate health checkups for over 500 companies in India.

See their rich and famous clientele:

At Health 360 our Patrons come from all over the world. Within India, clients include Company Directors, Senior Government Officials, Bollywood Stars and other eminent personalities.



Outside of India, Health 360 is a preferred destination for clients from the Middle East, UK, Africa, USA, and Canada.



Some of our clientele include

Mr. Adi Godrej: Chairman, Godrej Industries
Mr. Anil Ambani- Chairman, Reliance
Mr. Mukesh Ambani- Chairman, Reliance Industries
Mr. Uday Kotak- Chairman, Kotak Group
Mr. Vilasarao Deshmukh-Maharashtra Chief Minister

Mr. Aamir Khan- Actor
Ms. Bipasha Basu - Actress
Ms. Kajol - Actress
Ms. Kareena Kapoor - Actress
Mr. Shahrukh Khan - Actor

What could be their prices be ???

To know more visit their website : http://www.health360.in/
 
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