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RJ Corp Acquires Rs 379 Crore Worth of Global Health Shares in Open Market Transaction

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RJ Corp, led by Ravi Kant Jaipuria, has made a significant acquisition in the healthcare sector by purchasing 1.07% or 2.8 million shares of Delhi-based Global Health. The transaction, conducted through an open market deal, amounted to Rs 379 crore, as per BSE bulk deals data. The shares were acquired at Rs 379 apiece, marking a substantial investment by RJ Corp in Global Health. The selling party, Dunearn Investments Mauritius, divested its holdings, which amounted to a 16.02% stake in Global Health as of December 31, 2023. Jaipuria, known as the promoter of Devyani International, adds another feather to his cap with this strategic investment. Devyani International operates renowned brands such as KFC, Pizza Hut, and Costa, among others. This move signifies RJ Corp’s intent to diversify its portfolio and expand its presence in the healthcare sector. Prior to this acquisition, RJ Corp held a 5.52% stake in Global Health. With the latest transaction, RJ Corp strengthens its position in the company, signaling confidence in the growth prospects of Global Health and its contribution to RJ Corp’s overall business strategy. The acquisition underscores the dynamic nature of the market, with investors seeking strategic opportunities to enhance their portfolios. RJ Corp’s move aligns with its vision of identifying promising ventures and leveraging its expertise to drive growth and value creation. As the healthcare sector continues to evolve and witness rapid transformation, investments such as these are poised to play a pivotal role in shaping the industry landscape. RJ Corp’s strategic acquisition in Global Health reflects its commitment to exploring new avenues for growth and maximizing shareholder value in the competitive market environment.

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Union Health Minister Mandaviya Unveils Advanced Facilities at AIIMS Bhubaneswar

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In a significant development for healthcare infrastructure, Union Health Minister Mansukh Mandaviya virtually inaugurated new facilities at AIIMS Bhubaneswar in Odisha. The additions include a Dharmasala, a Trauma Centre, and a High Energy Linear Accelerator (HELA) Machine, aimed at bolstering healthcare services and improving patient care standards. Expressing gratitude, AIIMS Bhubaneswar Executive Director Ashutosh Biswas thanked Minister Mandaviya for his dedication to advancing healthcare. He highlighted the transformative impact of these state-of-the-art facilities on patient care and emphasized their role in shaping a new era in healthcare delivery. The Dharmasala, constructed with CSR funding from NALCO, offers 492 beds across 159 rooms, providing affordable accommodation for patients and their attendants. The Trauma Centre, equipped with 86 beds and 19 intensive care units, serves as a comprehensive care hub, featuring advanced amenities like modular operating theatres and diagnostic services. It also serves as a training ground for medical students, ensuring top-quality education in trauma care. The introduction of the HELA Machine marks a significant milestone in cancer treatment at AIIMS Bhubaneswar. This cutting-edge device utilizes advanced technology to deliver precise radiation therapy, offering comprehensive cancer care with minimal impact on healthy tissues. The presence of key figures, including DEAN P R Mohapatra and Medical Superintendent Dillip Kumar Parida, along with faculties, officials, students, and guests, underscored the importance of the occasion.

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Indian National Receives 9-Year Sentence for $2.8 Million Medicare Fraud

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The Department of Justice announced on Tuesday that Yogesh K Pancholi, a 43-year-old Indian national and resident of Michigan, has been sentenced to nine years in prison for orchestrating a $2.8 million healthcare fraud through his company, Shring Home Care Inc. According to court documents, Pancholi, despite being excluded from billing Medicare, covertly acquired Shring, utilizing the names, signatures, and personal information of others to conceal his ownership. Over a span of two months, Pancholi and his accomplices allegedly submitted false claims to Medicare, resulting in an illicit gain of nearly $2.8 million for services that were never rendered. Federal prosecutors asserted that Pancholi further complicated the scheme by transferring the fraudulently obtained funds through bank accounts associated with shell corporations, eventually channeling them into accounts in India. This elaborate money trail aimed to obfuscate the origins of the ill-gotten gains. In an attempt to evade legal consequences, Pancholi, upon indictment, resorted to deceptive tactics. Using a pseudonym, he allegedly composed false and malicious emails to various federal government agencies, accusing a government witness of criminal activities. This ploy was strategically timed on the eve of the trial, with the apparent intention of dissuading the witness from testifying against him. The legal proceedings surrounding Pancholi’s healthcare fraud case highlight the gravity of fraudulent activities and the intricate efforts employed to conceal such financial misdeeds. As the justice system addresses this case, it serves as a reminder of the consequences individuals face when engaging in healthcare fraud and attempting to manipulate the legal process.

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AIIMS-Patna Successfully Tests Medicines Delivery by Drone, Revolutionizing Healthcare Access

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In a groundbreaking move, the All India Institute of Medical Sciences-Patna (AIIMS-P) achieved a significant milestone by successfully flying a drone to deliver medicines to the primary health centre (PHC) in Naubatpur, located 12km away. This initiative, driven by the Union health ministry, aims to streamline and expedite medical supply chains, especially in challenging geographical and environmental conditions. AIIMS-P executive director, Dr G K Pal, revealed that the use of drones for medicine delivery is part of an ambitious plan by the Union health ministry. Following successful trials, a formal inauguration is expected in the coming days. Earlier attempts at drone demonstrations had been limited to the institute campus due to adverse weather conditions, but the recent drone flight to Naubatpur covered the distance in just eight minutes. Dr. Pal highlighted the significance of this achievement, stating, “The geographical and environmental conditions of Bihar often came in the way of fast delivery of health care by road or river ways to people living in hilly areas and diara or during adverse weather conditions like floods. Healthcare drones would prove to be a boon, especially in delivering life-saving medicines like anti-venom for snake bites, vaccines, and other emergency drugs.” The successful demonstration involved covering a distance of 24km, a journey that could take at least 30 minutes by road. The institute has requisitioned four drones for medical services, and the positive outcome of the recent test flight marks a significant step forward. For the drone service to be fully operational, the presence of medically trained individuals accompanied by technical experts is necessary at the receiving end. This innovative approach is poised to revolutionize healthcare access, particularly in areas where traditional modes of transportation face challenges.

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Breakthrough Discovery Unveils Potential for Sustainable Energy Revolution

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Researchers have unveiled a discovery that could pave the way for a sustainable energy revolution. The breakthrough centers around a novel technology that harnesses the power of ambient vibrations to generate electricity, offering a promising solution to the global quest for cleaner and more efficient energy sources. The innovation, spearheaded by a team of scientists at a leading research institution, revolves around the concept of energy harvesting from ambient vibrations in the environment. By tapping into these ubiquitous vibrations, the researchers have successfully created a prototype device capable of converting them into usable electrical energy. This opens up the possibility of generating power in diverse settings, from urban environments with constant human activity to remote locations with natural vibrations. The implications of this discovery are far-reaching, as it holds the potential to revolutionize the energy landscape. Unlike traditional energy sources that often rely on finite resources and contribute to environmental degradation, this breakthrough offers a renewable and sustainable alternative. The technology’s scalability and adaptability make it a viable option for various applications, ranging from powering small electronic devices to providing energy for entire communities. The researchers anticipate that this innovation could play a pivotal role in addressing the pressing global challenges related to climate change and the need for cleaner energy solutions. The next steps involve further testing and refinement of the technology to optimize its efficiency and practicality. As the world grapples with the urgency of transitioning to sustainable energy, this discovery marks a significant stride towards a more eco-friendly and resilient future. This breakthrough not only signifies a leap forward in scientific achievement but also underscores the potential for unconventional approaches to meet the growing energy demands of our planet. The journey towards a sustainable energy revolution has just taken a promising turn, bringing renewed hope for a greener and more environmentally conscious future.

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AIIMS Bhubaneswar Successfully Tests Drones for Healthcare Delivery in Odisha

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AIIMS Bhubaneswar achieved a significant milestone on January 23 by successfully conducting an experimental trial utilizing drones to enhance healthcare services in Odisha. The unmanned aerial vehicle covered a remarkable distance of 120 km from AIIMS Bhubaneswar to the Community Health Centre in Tangi in just 1.10 hours, marking a groundbreaking advancement in medical logistics. The drones were specifically designed to transport essential blood supplies, weighing approximately 2 kg, with the entire journey executed seamlessly, showcasing the potential for integrating drone technology into the healthcare system. AIIMS Bhubaneswar Director, Ashutosh Biswas, expressed his satisfaction with the trial, emphasizing the commitment of the national institute to develop a model that seamlessly integrates technology to supplement existing logistics methods. Director Biswas highlighted the significance of this technology in bolstering healthcare services in remote, tribal, and semi-urban areas. Drones have the capacity to transport a variety of medical supplies, including vaccines, essential drugs, and diagnostic samples. This successful trial by AIIMS Bhubaneswar, a leading tertiary healthcare provider, opens new possibilities for enhancing healthcare accessibility for the people of Odisha. In an exclusive statement to ANI, Director Biswas stated, “Induction of drone delivery can boost the healthcare services in rural, tribal, and semi-urban locations. These drones can carry multiple health products, including vaccines, essential drugs, and diagnostic samples. AIIMS Bhubaneswar, as a leading tertiary healthcare provider, has created this opportunity for the people of Odisha.” The successful integration of drones in healthcare delivery marks a transformative step towards more efficient and timely medical services in challenging terrains and remote regions.

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India Witnesses Third COVID-19 Wave, Officials Confirm JN.1 Variant Impact

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As India grapples with the ongoing challenges posed by the COVID-19 pandemic, official sources have confirmed the emergence of the JN.1 variant. However, reassuringly, the available data suggests that this variant is not causing an exponential rise in new cases, nor is it associated with a surge in hospitalizations and mortality rates. India has experienced three distinct waves of COVID-19, with the most significant impact observed during the Delta wave in April-June 2021. At its peak, the country reported a staggering 4,14,188 (4.14 lakh) new cases and 3,915 deaths on May 7, 2021. The latest data indicates that the JN.1 variant is not leading to a scenario similar to the Delta wave peak. This information comes as a relief amid concerns about the potential impact of new variants on the country’s healthcare system. Since the onset of the pandemic in early 2020, India has witnessed more than 4.50 crore people contracting the virus, with over 5.30 lakh fatalities recorded over the course of about four years. This underscores the persisting challenges and the need for ongoing efforts to combat the spread of the virus and mitigate its impact on public health. As the situation continues to evolve, health authorities are closely monitoring the spread and characteristics of the JN.1 variant. The confirmation that the variant is not currently associated with a severe increase in cases provides valuable insights for public health strategies.

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Pharma Industry’s Wishlist for Budget 2024: R&D Incentives and Policy Boost

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In anticipation of Budget 2024, the Indian pharmaceutical industry is making a strong plea for fiscal incentives to foster research and development (R&D). With aspirations to reach a market size of USD 400-450 billion by 2047, the sector emphasizes the need for continuous investments in R&D, citing high risk, a long gestation period, and low success rates. Sudarshan Jain, the Secretary General of the Indian Pharmaceutical Alliance, urged for the upcoming budget to outline conducive policies, offering benefits in terms of both direct and indirect taxes while facilitating ease of doing business for pharmaceutical companies. The industry, set to achieve USD 120-130 billion by 2030, seeks accelerated innovation and R&D to realize its ambitious growth targets. The Promotion of Research & Innovation Program (PRIP) Scheme, introduced in 2023, was acknowledged as a positive step towards spurring innovation in the sector. Healthcare industry body NATHEALTH is advocating for increased healthcare spending to 2.5% of GDP and the rationalization of the GST framework. They aim to enhance the medical value travel segment, address MAT credit issues, and strengthen the healthcare value chain. Budget 2024 should prioritize building local capabilities for healthcare services, even in remote regions, and localize the healthcare value chain. Expectations include a roadmap for long-term infrastructure financing, an increase in medical and nursing colleges, and fiscal reforms in the health insurance sector, according to Narayana Health Executive Vice Chairman Viren Shetty. Metropolis Healthcare MD Ameera Shah seeks a zero per cent GST on diagnostic services and refunds for GST paid on inputs. With 60% of India’s diagnostics reliant on imports, Roche Diagnostics India MD Rishabh Gupta emphasizes the need for rationalizing import tariffs on healthcare products. The overarching goal is to prioritize affordable and accurate diagnostics, transforming India’s healthcare system for the better. Reference is taken from Economic times

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Chinese Health Authorities Warn of Potential COVID-19 Rebound in January

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Chinese health authorities have issued a warning of a possible rebound in COVID-19 infections in January, despite a recent decline in patients at fever clinics since New Year’s Day. The National Health Commission spokesperson, Mi Feng, stated at a press briefing that while respiratory diseases, mainly influenza, are still prevalent, the COVID-19 infection rate remains relatively low. Recent data from the multi-channel monitoring system revealed a positive rate of COVID-19 testing below one percent in sentinel hospitals after the New Year’s Day holiday. Wang Dayan, director of the China National Influenza Center, expressed concern about the upward trend in the proportion of the JN.1 variant strain, indicating a potential resurgence. Experts anticipate a co-circulation of respiratory pathogens during the winter and spring, with influenza viruses dominating in the short term. Wang Dayan highlighted the potential for a COVID-19 rebound in January due to the continuous importation of the JN.1 variant, declining influenza, and a decrease in population immunity. The JN.1 variant is likely to become the dominant strain in China. Influenza B virus proportions have risen significantly in both southern and northern provinces, surpassing influenza A in some regions. Wang emphasized the need for early influenza vaccination, as the immune response from contracting influenza A does not protect against influenza B. Wang Guiqiang, director of the Department of Infectious Diseases at Peking University First Hospital, emphasized the peak season for respiratory infectious diseases in winter and the potential for repeated infections. He urged increased attention to early intervention and diagnosis, particularly for the elderly and those with underlying diseases, as COVID-19 or influenza infections could worsen underlying conditions.

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Budget 2024: Pharma Industry Urges More Tax Breaks for R&D, Innovation, and Increased Healthcare Spending

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Amidst the anticipation surrounding the upcoming Union Budget on February 1, the healthcare and pharmaceutical industry has outlined a comprehensive wishlist for Budget 2024, aiming for policies that foster innovation, research and development (R&D), and increased healthcare spending. Sudarshan Jain, Secretary General of the Indian Pharmaceutical Alliance, emphasized the need for conducive policies that offer direct and indirect tax benefits to pharmaceutical companies. The focus should be on critical areas such as innovation, R&D, and upgrading healthcare infrastructure. Jain highlighted the significance of continuous investments, especially in a sector with high risks and long gestation periods. Dr. Ashutosh Raghuvanshi, MD and CEO of Fortis Healthcare & President of NATHEALTH, called for a significant hike in healthcare spending to 2.5% of GDP. The proposals presented by NATHEALTH emphasize transformative changes to bridge regional healthcare disparities and strengthen the healthcare value chain. The aim is to enhance medical value travel, address MAT credit issues, and build local capabilities for healthcare services. Ameera Shah, Promoter and Managing Director of Metropolis Healthcare, underscored the importance of the upcoming budget in strengthening India’s healthcare ecosystem. Shah advocated for investments in critical areas like innovation, research, development, technology, and upgrading healthcare infrastructure. Additionally, she called for a 0% GST on diagnostic services, GST refunds on inputs, and rationalizing import tariffs on healthcare products to enhance accessibility and affordability. These recommendations collectively aim to position India as a reliable supplier of medicines and a custodian of global healthcare. The healthcare sector looks forward to policy stability, continuity, and transformative measures in the upcoming budget, recognizing the role it plays in combating present and future healthcare challenges. Source: CNBC-TV18

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