Contemporary investments of firms that may boost the health and wellness industry in India.
Growing number of lifestyle-related diseases is a big concern for the Indian population right now. The rise in urban population in India imposes a big threat to the healthcare system. The need for hospitals and healthcare venues is increasing every day. In fact, the medical bills are also taking a toll on the insurance sector. To tackle such problems, the Indian medical institutes and diagnostic centers have attracted an FDI of US$ 4.34 billion starting from April 2000 to the month of March this year.
Apart from the growing wellness awareness and preventive measures among the urban population, investment from reputed healthcare brands in the Indian soil is also bringing a huge change in the current condition. Many firms are now directly getting involved in healthcare management by diverting their investments in opening or flourishing medical institutes. The list of companies below will clearly depict how the health and wellness industry in India is taking a giant leap towards the future.
- KIMS and True North
True North has invested US$ 200 million in Kerala Institute of Medical Sciences (KIMS) and bought 40% stake. KIMS is currently held by Ascent Capital and OrbiMed Advisors LLC. The hospital brand operates in Kerala and the Middle East. True North is close to acquire the highest stakes of KIMS and start flourishing in various direction with the sole aim to add to amalgamate medical ethics and clinical excellence.
- Syngene and HerbaLife
Syngene, a daughter concern of Biocon Limited, is all set to develop supplements and other nutritional products for HerbaLife. Syngene will deploy its R&D and manufacturing resources to come up with supplements and nutritional products for the Indian palate in collaboration with HerbaLife. As per the eminent industrialists involved in the deal, the bio-economy industry will become a US$ 10 billion sector by the end of 2025. The new lab in the Syngene campus dedicated to the R&D works for HerbaLife is in Bangalore and sprawls on an area of 3000 square feet.
- CureFit and Kristy’s Kitchen
Kristy’s Kitchen, an online health-food company has been acquired by Bangalore-based fitness and healthcare startup CureFit. Kristy’s Kitchen served more than 250 orders of delectable national and international cuisines every day. The acquisition will be following a long term goal of spreading the venture across various metro cities. CureFit mainly focuses on preventive healthcare and is focusing on investing in the health-food subscription system. Previously, CureFit acquired a fitness brand named Cult for US$ 3 million.
- STEER and Merck
Merck is a German healthcare firm. It has collaborated with STEER Engineering for the research and creation of new technology for producing special effect pigments. The pigments will be used in the plastic industry.
- Max Healthcare
The New Delhi based healthcare institute is all set to invest and open a cancer hospital in Saket, New Delhi. The whopping budget sums up to INR 320 Crore. Other than the cancer branch, the new facility will also have neuroscience and cardiac science department. The prime setup will focus on cancer department first with a facility of 350 beds.
- Thyrocare Diagnostics
This diagnostic brand is set to increase its full-fledged number of labs from 7 to 25. In fact, the brand is also targeting an increase in the number of franchises from 1200 at present to 5000 by the end of 2020 and to reach target revenue of INR 1000 Crore.
Conclusion
Many examples can be cited in this aspect which will clearly depict how the Indian wellness industry is rapidly growing. The healthcare system is being redefined with newer technologies and implementation of latest innovations.
