Category — Healthcare

Impact Investor Acumen To Raise India-Dedicated Fund

Headquartered in New York City, global impact investor Acumen is planning to launch an India-dedicated fund, as the investor plans on raising funds from India.

The company was incorporated in 2001 by Jacqueline Novogratz, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and individual philanthropists. Acumen’s work in India spans four sectors—healthcare, education, clean energy and agriculture.

Acumen Logo

Ajit Mahadevan, India director at Acumen said, “Across the four sectors we work in, we will look at these two enabling themes [technology and financing], because on the back of that you can create accelerated impact. All our education companies have a technology element. In agriculture, the focus is on access to markets using technology,”  The impact investor is exploring new avenues such as student and school financing, health insurance and MSME debt financing, reports Livemint.

“Acumen has invested over $100 million globally and the largest country is India. About a third of that has been invested in India, around $32 million, making us the largest non-microfinance investor in our sectors,” added Mahadevan.

April 9, 2017   No Comments

Scientists in India Develop Credit Card-Sized ECG Device

Scientists at the Bhabha Atomic Research Center have developed a credit card-sized Tele-ECG machine that can transmit an ECG over any smartphone to any part of the world. This 12-channel ECG machine works on an Android-platform, can be recharged via a mobile charger, and is priced at $61. It is likely the smallest of its kind.

“The quality of the ECG is excellent and it has come to me in two to three different formats for me to view,” Dr. Hemant Haldavnekar, a consulting physician, said.

 Hand-held ECG Device

“This is a small low-cost ECG machine that on a single charge can record 300 ECGs. It is rightly suited for rural areas,” the developer of the tele-ECG machine, Vineet Sinha, scientist, Bhabha Atomic Research Center, Mumbai, said reports NDTV.

March 21, 2017   1 Comment

India Creates Medical Caesium-137 from Nuclear Waste

India’s scientists at the Bhabha Atomic Research Center in Trombay, near Mumbai in the western state of Maharashtra, recover caesium-137 from radioactive waste to protect babies and vulnerable patients from adverse reactions to blood transfusions.

A rare and usually fatal complication from blood transfusion is Transfusion-Associated Graft Versus Host Disease, which is a major risk for fetuses and very premature newborns, as well as patients with suppressed immune systems, says World Nuclear News.

Doctors normally irradiate donated blood either with x-rays or gamma rays sourced from cobalt-60. However, cobalt-60 has a short half-life of 5.3 years which means technicians have to regularly make, transport and install new sources. Though Caesium-137 offers a longer-lasting alternative with a half-life of 30.2 years, it is usually presented in powdered form as caesium-chloride that has the potential hazard of dispersal if not properly handled and managed.

Making Vitrified Caesium Pencils at BARC

Making Vitrified Caesium-137 Pencils at BARC

Researchers at the Bhabha Atomic Research Center created a solid form of caesium-137 (from the stream of reprocessed spent fuel from India’s nuclear power plants), with the benefits of long life, reduced handling and no risk of dispersal. The same product will replace cobalt-60 for applications such as food irradiation, brachytherapy and sterilization of medical equipment.

 

March 21, 2017   No Comments

Baxter Acquires India’s Claris Lifesciences

To boost its position in the global sterile injectables market, estimated at more than $40 billion and growing at a 10% annually, Illinois-based Baxter International acquired Ahmedabad, India-based Claris Lifesciences, that deals in the specialty injectables business, for $625 million. The deal will close in the second quarter of 2017.

Baxter CEO Joe Almeida said, “The Claris injectables acquisition will expand Baxter’s presence in the fast growing, global generic injectable pharmaceuticals space and accelerate our growth trajectory with high-value, essential medicines that will benefit patients worldwide.”

Nitin Lifescience Injectible

Claris is projected to have about $100 million in revenue this year, and the combined company will launch seven to nine new products a year in the short term and up to 15 products a year beyond 2019, reports FiercePharma.

 

March 15, 2017   No Comments

Regulators Publish New Rules for Medical Devices in India

After exhaustive stakeholder consultations, the Government of India published the new medical device and in vitro diagnostic regulations (IVD) on Jan 31, 2017. The Medical Device Rules, 2017, issued by the Ministry’s Central Drugs Standard Control Organization, will replace India’s longstanding Drugs and Cosmetics Act upon implementation. The new rules will go into effect January 1, 2018.

The term “medical device” includes any instrument, apparatus, appliance, implant, material or other article, whether used alone or in combination, including the software intended by its manufacturer to be used specially for human beings or animals for one or more of the specific purposes, reports the Economic Times.
Central Drugs Standard Control Organization Logo
Highlights:
  • The new rules endorse a risk-based classification plan for medical devices and IVDs.
  •  Unique identification of medical devices and IVDs will be required by regulators, starting January 1, 2022.
  • Licenses issued to device registrants will remain valid indefinitely, along with payments of license retention fees, unless cancelled or surrendered.
  • The rules include fee revisions based on device classification.
  • Test licenses will remain valid for three years (currently, these are valid for one-year periods).
  • It is mandatory to have Notified Bodies (legal entities) conduct audits of device-manufacturing sites in India before manufacturing licenses can be issued.
  • Licenses and registration certificates obtained prior to implementation of the new rules will remain valid either until expiry or after an 18-month period following implementation, whichever is later.

The Medical Device Rules 2017 in its entirety is available on request. Please use this link to get a copy.

 

 

February 11, 2017   No Comments