US HEALTHCARE SYSTEM
AI app evaluation platform Maxim AI raises $3 million
Maxim AI serves clients in sectors such as software-as-a-service (SaaS), banking, healthcare, and edtech. The company will use fresh capital to expand team and scale operations to partner with more enterprises developing AI products. In fiscal year 2025, the company is focusing on its go-to-market strategy and expanding its platform, which includes proprietary evaluators and a robust data engine.
US Presidential Election: Biden launches media campaign targeting Trump as a ‘convicted criminal’
Joe Biden has launched an advertisement as part of a media campaign and has lashed out at his opponent Donald Trump describing him as a ‘convicted criminal’. This advertisement comes ahead of the first presidential debate on June 27.
India becomes the biggest source country for doctors in the US
India is the top source of immigrant doctors and the second-largest source of registered nurses in the US, as per a report by Remitly. Immigrants make up 18% of the US healthcare workforce, with Indians constituting 7%.
IT stocks gain up to 5% led by Wipro, Infosys. Is it ECB impact or something else?
IT stocks contributed to Friday’s massive surge in Nifty. Though Infosys was the top contributor, Wipro held the top spot in terms of percentage gains.
Fundamental tailwinds are a stronger play than volatile markets? 5 Indian pharma stocks with upside potential of up to 31 %
There is no doubt that the market is going through a volatile phase and bears are once again telling the street to never write them off. Will this correction continue even longer ? It would probably be clear by the end of the day as the election result finally gets settled. Instead of focusing on how much nifty or bank nifty or any other index is down or up, focus on the fact that whether the sector or company is doing well and will it do well in future because the fundamental operating matrix of that sector has changed for better. Because volatile phases come and go, changes in the operating matrix don't happen every day. Pharmaceutical is one sector where there is a fundamental change taking place and it has happened after 8 to 10 years of restructuring and painful readjustment. So, it would be worthwhile to have them on watchlist and if the market remains volatile then it is a sector which probably has a higher probability of outperforming.
Pill for China plus one
Indian pharma CEOs met senior officials in FDA and other key agencies to start a conversation. Even if a little late, given the looming presidential election, the proposal deserves attention. The basic idea is to capitalise on India's expertise and infra for manufacturing through financial incentives, tech sharing, collaborative research and tech transfers to expand production in both countries. Pursue onshoring in America and friendshoring in India to reduce dependence on China. And aggregate US, Indian and European demand for certain drugs, as IPA secretary general Sudarshan Jain told me.
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Bonjour! Pointers to start your French higher education
France has announced a plan to triple the number of Indian students by 2030, aiming to welcome around 30,000 students within six years. This initiative enhances France's appeal as a destination for global education, attracting students with its multiculturalism and academic prestige. However, studying in France differs significantly from anglophone countries due to language and cultural differences.
India needs a robust system to protect doctors from bogus lawsuits & ensure accountability for negligence
Indian Medical Association (IMA) praised GoI for criminal reforms absolving medical fraternity from liability under Section 304(a) of IPC, now Section 26 of Bharatiya Nyaya Sanhita. Supreme Court's 'Jacob Mathew vs State of Punjab' judgment balanced protecting doctors from frivolous prosecutions and accountability in negligence cases. Medical Council of India enforces ethical standards for doctors.
KKR invests in Healthcare Revenue Solutions provider Infinx
KKR acquires a significant minority stake in Infinx Services, a leading healthcare revenue cycle solutions provider. With Norwest Venture Partners also participating, the investment aims to accelerate Infinx's growth in the US healthcare market, leveraging KKR's expertise. Infinx's innovative platform serves over 400 healthcare providers, tapping into a $4.3 trillion market.
Responsible Innovation, how a blueprint for collaborative action is advancing global healthcare
On the occasion of the Abu Dhabi Global Healthcare Week (ADGHW), Dr. Asma Ibrahim Al Mannaei, Executive Director of the Research and Innovation Centre, discusses the UAE's prioritisation of healthcare in driving investments and partnerships focusing on advancing technology and attracting top talent and fostering collaboration with India reflecting shared challenges and opportunities in healthcare. Overall, collaboration with global partners and investment in manufacturing capabilities exemplify the UAE's commitment to healthcare excellence and innovation, while initiatives like Malaffi enhance data-driven services. Read on to discover how ADGHW aims to faciliate responsible innovation in healthcare, even as the UAE emphasises patient rights protection in an era of advancing AI and data usage.
Serum Partners US company to advance needle-free injection technology
SII said, in a statement on Friday that the partnership with IntegriMedical aligns with its vision of 'Health for All' and IntegriMedical's mission to 'transform healthcare globally' by providing patient comfort, ensuring increased patient compliance, reducing needle-stick injuries, and enhancing the efficacy of liquid medication via needle-free dispersion.
New study challenges benefits of healthcare privatisation
A study published in The Lancet Public Health journal highlights the negative effects of healthcare privatisation, particularly in high-income countries like the US, Germany, Canada, and South Korea. The research, led by the University of Oxford, suggests that privatisation seldom improves the quality of care but is associated with higher profits. It challenges the notion that market competition and flexibility in privately-owned healthcare systems lead to better outcomes.
Serum Institute buys 20% stake in IntegriMedical
Serum Institute of India acquires 20% stake in IntegriMedical for N-FIS drug delivery solution. Adar Poonawalla envisions a needle-free vaccine administration. N-FIS has regulatory approvals and patented technology. Available in the Indian private market, it eliminates needle-phobia and prevents injuries.
Empowering healthcare innovations: Dr. Noura Khamis Al Ghaithi on ADGHW's role in global healthcare collaboration
H.E. Dr. Noura Khamis Al Ghaithi discusses ADGHW as a platform for global healthcare collaboration, focusing on innovations and partnerships with Indian healthcare providers. The event aims to develop precision health initiatives, strengthen life sciences research, attract medical tourism, and support a growing startup ecosystem.
Nearly 100 cases of Covid's new FLiRT variant KP.2 found in Maharashtra: Here are the most affected cities
Maharashtra identifies 91 cases of the Omicron subvariant KP.2, surpassing the JN.1 variant. Pune records the highest number at 51. Dr. Rajesh Karyakarte notes an increase in cases without a rise in hospitalizations. Other cases reported in various cities. FLiRT variants consist of KP.1.1 and KP.2 strains. Japanese researchers identify unique substitutions in the S protein of KP.2 variant.
IT midcaps weather market storm to enter billion-dollar club
Many other mid-cap IT firms are also eyeing an entry into the billion-dollar club in the coming quarters while the above-mentioned four are chasing the next target of $2 billion, industry observers said. Firms such as Happiest Minds Technologies, Cyient, ITC Infotech and Birlasoft announced their billion-dollar revenue target recently.
A cyberattack on a big US health system diverts ambulances and takes records offline
A cyberattack on the Ascension health system in the U.S. disrupted medical services, diverted ambulances, and blocked online access to patient records. The attack affected hospitals across 19 states and the District of Columbia. Patients reported missed medical appointments, including CT scans and mammograms, and difficulties refilling prescriptions. Ascension confirmed the incident as a cybersecurity issue but did not specify if it was a ransomware attack. The health system advised patients to bring medical information to appointments and disclosed that downtime procedures would be in place for some time.
Happiest Minds makes third acquisition for $8.5 million
This is the third acquisition for the Bengaluru-based IT services firm in FY25 so far with two acquisitions PureSoftware Technologies and Macmillan Learning India announced in April.
India's Panchayati Raj system highlights strides made in women's leadership: Ruchira Kamboj
India's Permanent Representative to the UN, Ruchira Kamboj, highlighted the significant progress in women's leadership within India's Panchayati Raj system. Speaking at a #CPD57 side event, she praised the system's decentralised power structure, facilitating active participation from all residents through the Gram Sabha. Kamboj noted the constitutional amendment mandating one-third of all elected roles be reserved for women, leading to 50% representation in 21 states. She emphasized women's transformative impact, integrating gender considerations into local planning for inclusive and sustainable outcomes.
Calcutta HC dismisses appeal by ex-Sebi chief M Damodaran in Glocal case
Calcutta High Court's rulings on M Damodaran's affidavit, UpHealth's stake acquisition dispute with Glocal, and the arbitration proceedings, including damages awarded, showcase legal complexities and jurisdictional disputes in the case.
Calcutta HC passes interim order in Glocal case
UpHealth, a digital health company, acquired a 95% stake in Glocal in 2020. The dispute started after UpHealth claimed their right to two directors on the board of Glocal as per the share purchase agreement (SPA) in September 2022, which was defeated in an extraordinary general meeting (EGM).
Mubadala plans big deals in India's healthcare space
Abu Dhabi's Mubadala Investment Company plans to expand in India's healthcare sector, seeking deals in the $200-500 million range. With a focus on pharmaceuticals, outsourced pharma services, and medtech, Mubadala aims to deploy capital meaningfully in India. This move aligns with Mubadala's strategy to generate sustainable financial returns. They have made significant investments globally and are now looking to expand their presence in India's healthcare landscape.
It makes sense to make in India and service other markets from here: Elie Chaillot, president & CEO, GE HealthCare
GE HealthCare, a leading medtech company globally, aims to increase manufacturing of its products in India as part of its supply chain diversification strategy. Elie Chaillot, President & CEO of GE HealthCare International, highlights the growth potential in India's healthcare market and emphasizes the country's qualified human resources and competitiveness in 'Make in India'.
US requiring new AI safeguards for government use, transparency
The Office of Management and Budget issued a directive to federal agencies to monitor, assess and test AI's impacts "on the public, mitigate the risks of algorithmic discrimination, and provide the public with transparency into how the government uses AI." Agencies must also conduct risk assessments and set operational and governance metrics.
US officials urge UnitedHealth to expedite payments to providers
Officials from the US Department of Labor and the US Department of Health and Human Services urged UnitedHealth (UHG) to take "responsibility to ensure no provider is compromised by their cash flow challenges stemming from this cyberattack on Change Healthcare."
Need to develop ecosystem to make our products accessible, says Geoff Martha, chairman and CEO of Medtronic
"We have been serving Indian patients for 40 years, trained physicians for years. Since 2011, we've ramped up our research and development capabilities in India. Today, we're celebrating the expansion of the Medtronic Engineering and Innovation Center (MEIC). We've got 1,000 engineers here and plan to add another 500 over the next years or two; it could even go faster than that. So we've got great R&D capabilities here," says Geoff Martha.
US healthcare providers hit by frozen payments in ransomware outage
Large hospital chains are also locked out of processing payments with some absorbing the upfront costs of being unable to collect, according to the American Hospital Association (AHA), which represents nearly 5,000 hospitals, healthcare systems, networks and other providers.
Foreign aid drops sharply as Taliban abuses jeopardise the Afghan health system, group says
Human Rights Watch has reported that Afghanistan's public health system has been severely impacted by a sharp reduction in foreign assistance and serious Taliban abuses against women and girls, leaving the population increasingly vulnerable to severe malnutrition and illness. The Taliban takeover of Afghanistan in August 2021 drove millions into poverty and hunger after foreign aid stopped almost overnight.
Mayo Clinic pairs with Cerebras Systems to help develop AI for health care
The Mayo Clinic, which has three major campuses in the US in addition to locations in the UK and the United Arab Emirates, will use computing chips and systems from Cerebras to tap into decades of anonymized medical records and data to develop its own AI models.
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