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India’s 2024-25 healthcare budget leaves private sector disappointed

India’s Finance Minister, Nirmala Sitharaman, presented the new coalition government’s first budget on July 23. The Bharatiya Janata Party (BJP) won the 2024 General Election, but fell short of securing an outright majority as they had hoped. The Union Budget for 2024-25 allocated ₹ 90,958 crore ($11.09 billion) to the Ministry of Health, an increase from ₹ 89,155 crore ($10.87 billion) in the previous fiscal year. This budget replaced the interim budget previously presented on February 1.
July 26, 2024

Sanofi to Invest $437.24 million to expand and strengthen presence in India

Sanofi, the French drugmaker, plans to invest $437.24 million in its Global Capacity Centre (GCC) in Hyderabad, India, by the end of the decade, Reuters reported. China's low costs and speed previously made it a preferred pharma hub, but political factors are now shifting benefits to India.
July 18, 2024

Temasek to invest up to $10 billion in India, with focus on healthcare

Singapore state investor Temasek plans to invest up to $10 billion in India over three years, focusing on healthcare and financial services, Reuters reported on Monday. Foreign investors are increasingly interested in Indian hospital chains and healthcare groups, which are expanding into smaller cities to meet rising demand as public hospitals remain overburdened and inefficient. 
July 16, 2024

Private hospitals in India demand timely reimbursements under nation’s largest health insurance scheme

India's Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PM-JAY), the largest government-funded health insurance scheme, has enrolled 27,742 hospitals, 43% of which (11,973) are private hospitals, with 1.3 million beds. However, private hospitals are struggling financially under the scheme, citing delays and inadequate reimbursement rates. Introduced in 2018, PM-JAY aims to provide Rs. 5 lakh (~$6,100) per family annually for secondary and tertiary care hospitalisation, covering pre-hospitalisation and 15 days of post-hospitalisation expenses including diagnostics and medicines. Reports indicate that many private hospitals are lately reluctant to admit patients despite having available beds, primarily due to delays in government reimbursement of insurance claims.
July 4, 2024

KKR acquires Kerala-based hospital fuelling surge in India’s healthcare PE deal activity

India saw a ~35% drop in private equity and venture capital deal activity in 2023, with investments falling from $62 billion in 2022 to $39 billion. However, healthcare investments hit a record $5.5 billion, driven by a tripling of provider investments, multi-specialty provider consolidation, and the rise of attractive single-specialty assets. Reflecting this trend, on July 1, the US private equity firm KKR has announced an acquisition of a controlling stake in Baby Memorial Hospital (BMH), a multi-specialty hospital chain in Kerala, India.
July 1, 2024
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