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HBI News Round Up, 26 July 2024

In this HBI News Round Up we cover the impact of a global IT outage on UK hospitals and GP practice, reports that bankrupt Dutch primary care chain Co-Med has been raided for suspected healthcare fraud, a capital increase for Moroccan hospital group Akdital Group, investment details for private science and innovation hub owner Deeplabs, and loan-based expansion for hybrid retirement communities operator Untold Living.
July 26, 2024

Australian private hospital sector in crisis: what is happening and how can it be fixed?

The Australian private hospital sector is in crisis, with approximately 80 hospitals closing in the past five years and another 12 discontinuing maternity or mental health services. Many doctors warn that private maternity services might completely close down within the next five years. The growth in private admissions has fallen significantly short of expectations, primarily due to rising healthcare service costs, increasing out-of-pocket expenses, and unaffordable health insurance.
July 26, 2024

CapMan Growth leads tender offer for Innofactor

An investment consortium led by leading Nordic private asset expert CapMan Growth has made a public tender offer for all of the shares of Innofactor, a listed Finnish software provider.
July 26, 2024

Mumbai’s Thyrocare acquires Punjab’s Polo Labs for $613 million

India’s diagnostic market was around $8.66 billion in FY21, with the pathology sector accounting for ~60%. It is projected to grow to $25 billion by FY28, driven by attractive margins and growth potential. The sector has also seen considerable deal activity, including fundraising and mergers and acquisitions. In the latest acquisition, Mumbai-based Thyrocare, a fully automated diagnostic laboratory, has entered into a Business Transfer Agreement with Polo Labs, a Punjab-based pathology diagnostic company, to acquire their pathology diagnostic business.
July 26, 2024

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
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