Manipal and Fortis are engaging in discussions to secure Rs 5,000 crore for a potential acquisition of Sahyadri Hospitals.
The bidding process for Sahyadri Hospitals, a multispecialty hospital chain, is nearing its deadline of June 22. Interested bidders, including Manipal Health Enterprises and Fortis Healthcare, are in talks with foreign lenders to secure financing of up to Rs 5,000 crore to support their bids. The hospital chain, which operates 11 hospitals with 1,300 beds across Maharashtra, is being sold by Ontario Teachers’ Pension Plan (OTPP), which acquired a 98.9% stake in the company less than three years ago.
Manipal and Fortis are engaging with global banks such as DBS Group Holdings, Deutsche Bank AG, Mizuho Bank, HSBC Holdings, and Barclays to raise the necessary funds. Another potential bidder, Aster DM Healthcare, has yet to finalize its financing discussions. The acquisition of Sahyadri Hospitals is expected to be a significant deal in the Indian hospital sector, which has seen consolidation in recent times.
OTPP, which has over $3 billion invested in India, hired Jefferies to run the sale process earlier this year. The Canadian pension fund had acquired Sahyadri Hospitals from Everstone Capital at a valuation of Rs 2,500 crore. The hospital chain has a strong presence in Maharashtra, with facilities covering specialties such as cardiology, transplants, neurology, and critical care.
The bidding for Sahyadri Hospitals comes amid a surge in interest in the Indian hospital sector, driven by factors such as the Covid-19 pandemic, rising demand for healthcare services, and increasing investment from private equity firms. According to a report by BNP Paribas India, the Indian hospital segment has seen a significant increase in primary market transactions, with six hospitals concluding their initial public offerings (IPOs) in recent times.
The acquisition of Sahyadri Hospitals is expected to be a strategic move for the successful bidder, allowing it to expand its presence in the Indian healthcare market. The deal is also expected to be a significant transaction in the Indian hospital sector, which has seen consolidation in recent times, including the merger of Quality Care India with Aster DM to form India’s third-largest hospital chain. Overall, the bidding process for Sahyadri Hospitals is expected to be a closely watched event in the Indian healthcare industry.
Pfizer’s attempt to broaden Talzenna’s indications is rejected by FDA panel as artificial intelligence is investigated for its potential to increase diversity in clinical trials.
A US Food and Drug Administration (FDA) advisory panel has rejected Pfizer’s bid to expand the use of its breast cancer drug, Talzenna (talazoparib). The panel voted against approving the medication for use in patients with a type of breast cancer known as hormone receptor-positive (HR-positive) metastatic breast cancer. The decision was based on concerns over the drug’s efficacy and safety in this patient population.
Talzenna is currently approved for use in patients with germline BRCA1/2-mutated, HER2-negative locally advanced or metastatic breast cancer. Pfizer had sought to expand the drug’s label to include HR-positive metastatic breast cancer, but the FDA panel was not convinced by the available data.
The panel’s decision was influenced by the results of the EMBRACA trial, which showed that Talzenna improved progression-free survival (PFS) compared to chemotherapy in patients with HR-positive metastatic breast cancer. However, the panel noted that the overall survival (OS) benefit was not significant, and that the drug’s safety profile was a concern.
Meanwhile, the use of artificial intelligence (AI) is being explored to enhance diversity in clinical trials. The lack of diversity in clinical trials is a significant issue, as it can limit the generalizability of trial results to diverse patient populations. AI can help identify potential trial participants from underrepresented groups and improve trial design to better reflect real-world patient populations.
The use of AI in clinical trials can also help to identify biases in trial data and improve the accuracy of trial results. Additionally, AI can facilitate the analysis of large datasets, including electronic health records (EHRs) and genomic data, to better understand disease mechanisms and identify potential therapeutic targets.
The rejection of Pfizer’s bid to expand Talzenna’s use highlights the challenges faced by pharmaceutical companies in developing effective treatments for diverse patient populations. The use of AI in clinical trials has the potential to improve the diversity and representativeness of trial participants, which could ultimately lead to more effective treatments for a wider range of patients. As the FDA and pharmaceutical companies continue to explore the use of AI in clinical trials, it is likely that we will see more diverse and representative trial populations, leading to better outcomes for patients with cancer and other diseases.
In conclusion, the FDA panel’s decision to reject Pfizer’s bid to expand Talzenna’s use serves as a reminder of the importance of diversity in clinical trials and the need for more effective treatments for diverse patient populations. The use of AI in clinical trials has the potential to address these challenges and improve patient outcomes.
At 92, a resilient entrepreneur still commutes to the office every day, spearheading India’s largest healthcare network as the founder of [company name], a feat achieved by the indefatigable [his name].
Dr. Prathap C. Reddy is a 92-year-old man who still goes to office every day, six days a week, and is the guiding force behind Apollo Hospitals, India’s largest healthcare network. He founded Apollo Hospitals in 1983, which was India’s first corporate hospital, providing world-class medical facilities to patients. Before Apollo, Indian patients had to travel abroad for specialized treatments, but Dr. Reddy’s vision made it possible for them to access these treatments in India.
Dr. Reddy’s journey is an inspiring one. Born in Chennai, he completed his MBBS degree from Stanley Medical College and then moved to the US to specialize in cardiology. He had a promising career in America and was considering settling there, but a heartfelt letter from his father changed his mind, and he returned to India to serve the nation. This decision proved to be a turning point in his life and laid the foundation for India’s largest private healthcare empire.
Dr. Reddy’s dedication to his work is evident in his daily routine. He clocks in at 10 am and wraps up by 5 pm, showing no signs of slowing down despite his age. His family is also closely involved in his work, and he is particularly close to his granddaughter, Upasana Kamineni, who is married to actor Ram Charan.
Dr. Reddy’s story is an inspiration to young businessmen and entrepreneurs, who can learn from his dedication, vision, and passion for his work. He has made a significant impact on the healthcare industry in India, and his legacy continues to grow through Apollo Hospitals. Today, Apollo Hospitals is a household name in India, and Dr. Reddy’s contribution to the healthcare sector is immeasurable.
It’s worth noting that Dr. Reddy’s success is not just limited to his professional life. He is also a devoted family man, and his close relationship with his family is frequently acknowledged. His influence on his granddaughter, Upasana, is particularly noteworthy, and she has often spoken about the importance of her grandfather’s guidance and support in her life.
Overall, Dr. Prathap C. Reddy’s story is a testament to the power of hard work, dedication, and vision. He is an inspiration to people of all ages, and his legacy will continue to inspire future generations of entrepreneurs and businessmen.
Fortis Healthcare launches state-of-the-art outpatient clinic for specialized care in Guwahati, as reported by Healthcare Asia Magazine
Fortis Healthcare, a leading integrated healthcare delivery service provider, has launched a super-speciality outpatient clinic in Guwahati, Assam. The clinic, which is the first of its kind in the region, aims to provide access to quality healthcare services to the people of Northeast India. The clinic will offer a range of super-speciality services, including cardiology, neurology, nephrology, urology, and oncology, among others.
The clinic is equipped with state-of-the-art medical equipment and technology, and will be staffed by a team of experienced and skilled doctors, nurses, and other healthcare professionals. The clinic will provide patients with a comprehensive range of diagnostic and treatment services, including consultations, investigations, and procedures.
The launch of the clinic is part of Fortis Healthcare’s strategy to expand its presence in the Northeast region and to provide access to quality healthcare services to the people of the region. The clinic is located in the heart of Guwahati, making it easily accessible to patients from across the city and the surrounding areas.
According to the company, the clinic will provide patients with a patient-centric approach, with a focus on providing personalized care and attention. The clinic will also have a dedicated patient support team, which will provide patients with assistance and support throughout their treatment journey.
The launch of the clinic has been welcomed by the local medical community, who have praised Fortis Healthcare for its efforts to bring quality healthcare services to the region. The clinic is expected to benefit not only the people of Guwahati but also those from other parts of the Northeast region, who often have to travel to other cities for specialized medical care.
Overall, the launch of the super-speciality outpatient clinic in Guwahati is a significant development for the healthcare sector in Northeast India. It reflects Fortis Healthcare’s commitment to providing access to quality healthcare services to people across the country, and is expected to have a positive impact on the health and wellbeing of the people of the region. With its state-of-the-art facilities and experienced team of doctors and nurses, the clinic is well-equipped to provide patients with the best possible care and treatment.
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