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Singapore-based investment firm <keyword id="6367519" type="General" weightage="80" keywordseo="temasek" source="Orion">Temasek</keyword> will acquire an additional 41 per cent stake in <keyword id="533812" type="General" weightage="100" keywordseo="manipal-health-enterprises" source="Orion">Manipal Health Enterprises</keyword>, to take majority control of the Bengaluru-based firm, as per a joint statement issued by the entities on Monday. The companies did not share financial details of the deal. Sources, however, said Temasek stake buyout would be for over Rs 16,300 crore valuing Manipal Health Enterprises (MHE) at around Rs 40,000 crore, making it the largest deal in the Indian healthcare sector. Following the closing of the transaction, <keyword id="6379586" type="General" weightage="50" keywordseo="manipal-group" source="Orion">Manipal Group</keyword> will hold about 30 per cent in Manipal Health Enterprises. Sheares Healthcare Group, a wholly-owned subsidiary and independently-managed portfolio company of Temasek, will retain its existing 18 per cent stake, it said. Besides, global alternative asset management firm <keyword id="6367884" type="General" weightage="80" keywordseo="tpg" source="Orion">TPG</keyword>, which first invested in MHE through TPG Asia VI in 2015, will fully exit. But, TPG will hold an interest of 11 per cent in the healthcare chain, through its new Asia fund - TPG Asia VIII, it added. National Investment &amp; Infrastructure Fund (NIIF) will exit its holding from MHE, the statement said. "We are very glad for Temasek's acquisition of a significant stake in Manipal Health Enterprises and its support to the management team in building out the platform to its full potential," Manipal Group Chairman <keyword id="354291" type="General" weightage="50" keywordseo="ranjan-pai" source="Orion">Ranjan Pai</keyword> said in a statement. Investing in healthcare requires a long-term outlook as well as a sensitivity to social responsibility, he noted. "I am glad that we have partners like Temasek and TPG who resonate with these values and will continue to be a part of the journey ahead. "I am also grateful to NIIF who partnered with us at a critical juncture, at the peak of the Covid-19 pandemic and supported us as we continued to provide high-quality healthcare," Pai added. Headquartered in Bengaluru, Manipal Hospitals currently serves over fifty lakh patients a year through its network of 29 hospitals. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a> <a href="https://www.businessinsider.in/tech/news/google-makes-it-easier-for-users-to-delete-their-account-and-data-from-applications/articleshow/99289621.cms">Google makes it easier for users to delete their account and data from applications</a> <a href="https://www.businessinsider.in/business/news/ipl-2023-to-drive-fantasy-sports-companies-to-2900-3100-crore-revenue/articleshow/99285556.cms">IPL 2023 to drive fantasy sports companies to ₹2,900-3,100 crore revenue, fueled by Tier-2 cities and exciting prizes</a>

Temasek to buy additional 41% stake in Manipal Health Enterprises for ₹16,300 crore

New Delhi, Nov 28 () Healthcare industry body NATHEALTH on Thursday said it is working closely with the government to achieve the vision of providing universal health coverage in the country.
The body also suggested that corporate social responsibility (CSR) funds could be used to push the critical segments such as preventive health, skilling and digital technologies.
"We are working very closely with the government because unless we work together, universal health coverage to masses is just not going to happen," NATHEALTH President and Manipal Health Enterprises Chairman Sudarshan Ballal told reporters here.
He was speaking at the 6th Annual Summit of the NATHEALTH on the theme of 'Reimagining Collaboration to Strengthen India's Healthcare Growth Trajectory'.
The government and industry need to work together to realize the Prime Minister's vision of Health for All, he added.
Ballal also said that for transparency and ethical practices in the healthcare sector "we believe that we should have a code of ethics. Indian Medical Association (IMA), Ficci and many others have worked on this and we at NATHEALTH would like to facilitate so that the code of ethics is followed".
He also said that NATHEALTH would like to make India as a 'healthcare destination of the world'.
NATHEALTH Senior Vice President and Apollo Hospitals Group Vice Chairperson Preetha Reddy said: "Healthcare today is at an inflection point".
Both, the government and private sector have to work together to ensure that healthcare is accessible to the entire population of the country, she added.
More than anything else, "we need a world class brand for India and for that we have to give high quality good outcomes, so that the rest of world looks at India. There is a potential for people from other countries to come to India for healthcare, we just have to do more about it," Reddy said.
The importance for building trust between investors, policy makers and people seeking care - whether from India or from outside - cannot be undermined, she added.
The industry body also said it is willing to pool industry CSR and work with the government and development sector partners to test innovative delivery models and create replicable pathways for scale. AKT BAL

Working closely with govt to ensure universal health coverage: NATHEALTH

A startup called <keyword id="3785014" type="UNKNOWN" weightage="20" keywordseo="Oxyent-Technologies">Oxyent Technologies</keyword> emerged as the winner of the recently concluded <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> Smartcamp Challenge for <keyword id="3352540" type="UNKNOWN" weightage="20" keywordseo="healthtech-startups">healthtech startups</keyword> in the country. It is a hospital-linked application and a one-stop workflow solution for Neonatal Intensive Care Unit and the Pediatrics Department to assimilate and disseminate child information, starting from birth up to 12 years of age. 
 The challenge, a part of IBM’s Global Entrepreneur program, was to identify <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> in the B2B and B2C space in India who are poised to redefine the healthcare industry and solve real world problems through their technology innovations. 
 
“IBM Smartcamps are designed and aimed at providing opportunities for startups to get mentorship and work with IBM and industry experts to scale up their business quickly, particularly by taking advantage of cognitive and cloud-based technologies. The focus of IBM Smartcamp for Health Tech initiative was to provide the startups in healthcare an opportunity to showcase their products and get inputs first-hand from various stakeholders,” said Seema Kumar, Country Manager, Ecosystem Development, IBM India &amp; SA. “At IBM, we are committed to empowering the next generation of start-ups that develop solutions to solve the most complex problems in the country. We are bullish on the potential of the Indian startup ecosystem to make effective use of technology to rapidly transform and improve the quality of healthcare solutions in the country.” 
 
Meanwhile, Harpreet Singh, the founder of the winning startup Oxyent Technologies, said, "Enterprise technologies like IoT, cloud computing, big data and analytics are a pillar to our solution. As a startup getting technical mentoring from IBM mentors in utilizing best practices in IoT and building on knowledge base of Watson will provide us an opportunity to be a world-class solution provider in child healthcare.” 
 
Two other startups - UE LifeSciences and DailyRounds - were selected as the first and second runners-up of the challenge. 
 
UE LifeSciences’ flagship product, iBreastExam is a portable, radiation-free device that can be used anywhere. The device essentially performs bilateral breast examinations and claims to provide results under five minutes. It accurately detects lesions with a sensitivity higher than 85% without causing any pain and has a low false-alarm rate of 6%. 
 
Meanwhile, DailyRounds is a mobile app for doctors, medical schools, physician, and surgeon societies to publish clinical cases, articles, and images. The platform allows doctors to share insights about medical cases. It claims to provide a verified diagnosis within 24 hours of submission. It also functions as a medical case library for doctors to refer and discuss their cases. 
 
The winners were chosen after multiple levels of screenings and panel rounds by the jury members. They were judged on various parameters like innovative solution, features &amp; demos, ability to scale, team behind the product, and the market size they are addressing with their solution. 
 
On the occasion, Jay Krishnan, CEO of T-Hub said, “We are excited to partner with Industry leaders such as IBM and Manipal Hospitals to facilitate events like the Heath Tech Smartcamp Challenge 2016. Such events will benefit startups in the ecosystem working in the area of healthcare innovation. Our mission overall is to lead sector specific collaboration between cutting edge startups and corporates looking for innovations in their domains.” 
 
The winners will now be given access to IBM Cloud credits and can leverage the best of IBM technologies around Cognitive, Cloud, Analytics, Mobility, IoT and Infrastructure as a service. All participants will also get an opportunity to learn from IBM’s senior leadership and industry experts. 
 
Next in line in the Smartcamp series is the Smartcamp for Smart City to be organized in New Delhi. IBM Global Entrepreneur program is accepting applications from B2B and B2C Startups less than 5 years having innovations around areas like Energy &amp; Utility, Transportation, Sanitation, Water, Citizen Management, Safety and Surveillance. Agritech startups are also welcome. The link for applying is ibmgepindia.com/smartcity.

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Temasek to buy additional 41% stake in Manipal Health Enterprises for ₹16,300 crore

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Working closely with govt to ensure universal health coverage: NATHEALTH

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The top 3 startups of IBM’s Smartcamp Healthtech challenge

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