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HBI News Round Up, 5 July 2024

In this HBI News Round Up, we look at private equity firm TVM Capital Healthcare's investment into Saudi Arabia-based bio-generics provider Boston Oncology Arabia, French drug giant Sanofi's potential decision to invest more into its insulin production operation in Germany, a survey showing increased use of private healthcare in Hungary, UK real estate investor Impact Healthcare's sale of five care home, pan Asian private equity fund Everstone's merger of two of its healthcare companies, specialist healthcare software and data investment firm Extens' sale of software provider Must, multinational occupational healthcare provider Fullerton Healthcare Corporation Limited's launch of the first dedicated centre for executive health screening and advanced diagnostic imaging in the Philippines, medical supply drone deliveries being trialled in Ireland and healthcare logistics company UPS Healthcare's investment in more temperature-controlled vehicles.
July 5, 2024

Co-Med files for voluntary bankruptcy 

Troubled Dutch primary care chain Co-Med is filing for voluntary bankruptcy and closing all of its clinics, marking the end of a several month long saga in which the company faced severe financial difficulties, numerous quality complaints and legal challenges from former employees.
July 4, 2024

FREE BLOG Guest Blog: My Key Highlights from the Healthcare Business International Conference

Farid Fezoua — Global Director of Health, Education & Services, International Finance Corporation Global healthcare is in flux. Amid shifting demographics, rapid technological transformation, climate-induced risks, and changing patient expectations in the face of widening disparities, traditional healthcare models are falling short. How do we reverse this trend and keep global development on course? What can we learn from emerging market contexts?
July 4, 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

PMI’s changing business model

Access to primary care is now the number one reason people in the UK want private medical insurance (PMI), according to data collected by UK health insurer Vitality. Other NHS countries have been seeing similar trends since Covid. Katie Tryon, Vitality’s Director of Health Strategy, spoke about how this has completely changed the PMI business model — for the better — at HBI’s conference last month.
July 3, 2024

World Bank to aid Armenia with $110M loan for rising private healthcare costs

Armenia faces high out-of-pocket (OOP) healthcare costs, primarily financed by households, which raise significant health policy concerns. Recently, the World Bank approved a $110 million loan to help with Armenia's Enabling Universal Health Coverage Program. This initiative aims to enhance primary healthcare quality, improve government health spending efficiency, and lower financial barriers to healthcare access.
July 3, 2024

Exploring ‘dark labs’, at-home testing potential, and the diagnostic lab sector’s consolidation at HBI 2024

The global laboratory diagnostics market has grown significantly, with research estimating its value at around USD $210.58 billion in 2023. It is expected to reach approximately USD $284.38 billion by 2033, expanding at a CAGR of 3.05% from 2024 to 2033. This growth is driven by rising chronic diseases, an ageing population, and the increasing demand for early diagnostics. At HBI 2024, the panel 'Laboratory Diagnostics – Growth Beyond Consolidation' brought together industry experts.
July 3, 2024

Healthcare innovation ETF set to launch in Europe

HANetf, a European exchange traded fund (ETF) provider with ~$4 billion assets under management, has announced a partnership with US-based asset manager Harbor Capital to launch a new UCITS ETF focused on the European healthcare sector.
July 2, 2024
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