Posts Tagged ‘healthcare’
Fortis Healthcare to raise Rs 1,250 cr
Hospital chain Fortis Healthcare today said it will raise Rs 1,250 crore by issuing shares in domestic and international markets.
The board of directors of the company have approved to raise Rs 1,250 crore by issuing shares or debentures to meet its funding requirements for addressing various growth opportunities, from time to time, Fortis Healthcare said in a filing to the Bombay Stock Exchange.
Max India 9.4% Stake to Goldman Sachs
Goldman Sachs is acquiring 9.4% stake in Max India for Rs5.4bn by subscribing to the compulsory convertible debentures issued by the company.
Max India shares climbed on Tuesday after Goldman Sachs agreed to pump in US$115mn in the company to fund insurance, healthcare and specialty plastics business. The stock ended at Rs228, up Rs4.40 or 2% from the last close. It touched an intra-day high of Rs242 and a low of Rs227.
Hospira buys Orchid unit for $400 mn
US-based drug major Hospira will buy the injectable pharmaceuticals business of Chennai-based Orchid Chemicals for $400 million (Rs 1,860 crore).
The acquisition will include Orchid’s antibiotics manufacturing complex (comprising cephalosporin, penicillin and carbapenem facilities) and pharmaceutical research and development facility at Irungattukottai in Chennai, as well as its generic injectable product portfolio and pipeline.
Private hospital segment to reach $45 billion by 2012
India’s private hospitals segment is estimated to reach $45 billion by 2012 from the present $22 billion with expansion in tier II and III cities, according to an industry report.
‘The hospitals segment is estimated to reach a level of $45 billion by 2012 from the present level of $22 billion as leading players in the sector are significantly increasing their investments in tier II and III cities,’ said the report jointly prepared by the Associated Chambers of Commerce and Industry (Assocham) and Yes bank.
India maps first Human Genome Sequence
Using as little as 10 millilitres of blood from a “healthy 52-year-old-man”, scientists at the Institute of Genomics and Integrative Biology (IGIB) in Delhi have successfully mapped the Human Genome Sequence for the first time in India.
The breakthrough paves the way for predictive healthcare and the possibility of identifying why certain people (with particular gene sequences) do not respond to certain medications, and what diseases a particular gene carrier, or a population, is likely to develop.
While the actual genome sequencing was completed in 45 days, the project took two years of background work — setting up a supercomputer facility, procuring software and standardizing protocols. The team that achieved the feat was led by Dr S Sridhar and IGIB PhD student Vinod Scaria, both in their mid-thirties.