New Developments : Typhoid Detection Kits: Express Healthcare : Venus Remedies Ties up with IMTECH and Panjab University to develop Typhoid Detection Kits

The kit is expected to bring down the detection time of the disease from 48 hours (from conventional vidal test) to just few minutes

Venus Remedies, a leading R&D-oriented pharma company, has tied-up with Institute of Microbial Technology (IMTECH), a renowned research centre of the Council of Scientific and Industrial Research (CSIR) and Department of Microbiology of Panjab University to jointly develop a diagnostic kit for typhoid. The kit is expected to bring down the detection time of the disease from 48 hours (from conventional vidal test) to just few minutes.

"The kit is expected to be out in the market by 2013. The project has got a lot of social importance attached to it as world over typhoid affects roughly 17 million people annually, causing nearly 6,00,000 deaths. Most of the deaths are caused due to a lack of early detection of the disease. Venus has the mandate to market this kit world over after conducting necessary trials," said Dr Manu Chaudhary, Director-Research at Venus Remedies Ltd.

 

Read complete article : http://www.expresshealthcare.in/201006/market09.shtml

 

 

Online Business News : Warburg Pincus in fray for I-Ven stake in Metropolis Healthcare

By Boby Kurian & Reghu Balakrishnan (www.VCCircle.com)

A secondary deal is in the offing with ICICI Venture looking at selling its 20% stake in the diagnostics chain.

Global private equity giant Warburg Pincus is aggressively pushing the expansion of its healthcare portfolio in India with a possible investment in Metropolis Healthcare, one of India's large diagnostics networks.

It is learnt that Warburg has shown interest in the 20% stake in Metropolis owned by ICICI Venture, which is on the block. I-Ven holds about 20% stake in Metropolis.

According to sources, Warburg is holding talks for a transaction estimated at around $50 million. Warburg was a serious bidder even though other PE firms including TA Associates have held discussions, sources added.

Warburg, which has several high-profile investments in healthcare globally, has done a single deal in the healthcare space in India by acquiring about 22% stake in Max India in 2004. Later in 2009, Warburg sold 5.6% stake for Rs 246 crore and still holds a 17% stake in the insurance and healthcare firm.

Max Healthcare had raised equity funding of $31.99 million from Warburg Pincus India Pvt Ltd in two separate tranches in 2004 and 2005.

While VCCircle could not reach out to Metropolis Healthcare MD G S K Velu today, he said, a few days back, they were seeing a lot of interest from PE players for the stake (I-Ven) sale.

He, however, added that the process was underway and will take a few months for completion. E-mails sent to Warburg Pincus and ICICI Venture too remain unanswered at the time of posting this report.

 

Read complete news : http://in.reuters.com/assets/print?aid=INIndia-48786020100525