Ashish Tripathi

Advent International is investing INR 2475 cr (~$3bn) in Apollo Hospitals's subsidiary, Apollo HealthCo. The transaction will also see the merger of its wholesale pharma distribution unit Keimed Private Limited and online healthcare business Apollo 24|7 under Apollo HealthCo. The background: Apollo HealthCo= Keimed (B2B pharma distribution) + Apollo 24 7 (online pharma) Apollo HealthCo, the digital health and services business of Apollo Hospitals, has been pressuring the hospital operator's bottom line, hurt by its cash-guzzling pharmacy business Apollo 24/7. Apollo HealthCo posted a loss for the sixth straight quarter in February. Advent International is a global PE with 17 investments (~$5.8bn since 2009) in India (12 current, 5 exits). Its other Indian healthcare investments include Cohance Lifesciences, Suven Pharmaceuticals and Bharat Serums and Vaccines Limited. Is it a good deal? The market doesn't think so! Shares of Apollo Hospitals Enterprise dropped 8% in opening trade on Apr 29 as investors were disappointed with the valuations offered in the deal. According to the deal, it valued Apollo 24 7 at $1.7bn and Keimed at $9.6bn Nuvama Group said while the deal was long overdue, the valuation commanded by Apollo 24/7 at $1.7 bn is lower than the estimated $2.7 bn. It not only comes as a negative surprise but also a huge letdown. The brokerage also said doubling Keimed's valuation for the deal, just within a year also seemed aggressive. Jefferies also shared the same view on Apollo 24 7's valuation While Prabhudas Lilladher Private Limited also acknowledged that the stake sale of Apollo HealthCo was done at a discounted valuation, it sees the merger of Keimed with the arm as a positive step as it removes overhang of any cost leakages. That with the added management guidance of growing EBITDA gives them comfort Future Outlook: According to the management commentary, the combined entity is expected to deliver Rs 25,000 ($3bn) crore of revenue in 3 yrs with 7-8% EBITDA, up from around Rs 13,600 crore and 1.5% now. This is an EBITDA growth of about 9x in 3 years! This growth will be achieved through Apollo 24/7 breakeven in ~2 years, higher margin realization through supply chain efficiencies, and accelerated growth in the private label business Though pharmacies in India are growing at 12% YoY, Apollo believes that large players like themselves can easily grow at 20-25% YoY It seems that Apollo was a bit desperate to inject in money and was okay with taking a slightly below-par deal. That said, this deal should reduce the drag from 24/7's operating cost (and cash burn) and strengthen both its pharmacy and hospital businesses. The merged entity could also leverage Keimed’s over 70,000 store network to push private label sales and unlock synergies. #healthcare #apollo #advent #privateequity #india #apollo247 #pharma #pharmacy

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101 million Indians are diabetic & 136 are prediabetic. But this is just the tip of the iceberg. Thrice this number are already developing diabetes but are not aware During the Pre 2015 era, modern medicine has been prescribing anti- diabetes drugs such as metformin to suppress/regulate blood sugar levels but it has brought limited success. The number of diabetic population is increasing more than ever. Metformin activates the enzyme AMP Kinase that signals eNOS to release GLUT 4 to clear glucose from circulation. However GLUT 4 needs a signal to be activated. This signal is Nitric Oxide. Therefore, even if you take metformin if your body is not producing enough nitric oxide, metformin is not going to work Over the last few years, we have seen adoption of new technologies to measure our metabolic health. One such tech is continuous glucose monitoring(CGM) devices. Companies selling these devices & biosensors along with it claim that it is the future to reverse diabetes.  Although it is a good starting point, there are multiple flaws in the application of CGM. No wonder, these are OTC, not regulated by the Indian regulatory authority & the adoption in case of type 2 diabetes is hardly 3%. Let us discuss the gaps -Food digestion & absorption takes 3-6 hours after you have consumed them & therefore these devices does not tell real time blood glucose as they claim -Food ontology is a sack of 30,000 plus molecules. Since 99% of genes expressed inside our body are microbial, 57% cells are microbes & food we eat is first available to microbes, how our microbes interact with each of these molecules or substrates determine the insulin & glucose spike. Unfortunately, CGM tracks glycemic response to a meal, not food, not even single food substrate. There are multiple inflammatory markers, triggered by gut or oral microbial functions, which could cause spikes which CGM does not measure. Hence CGM does not answer “WHY” -As we adopt a diet, our microbiome composition & functions as well as their response to food changes. So in the span of 30-45 days, your insulin /glycemic response to various foods will change. But your CGM will not tell you “ Why”. It is nothing more than guesswork & you have to keep spending INR 10K-12K, every month without real tangible benefits. This is nothing but a financial model. -Most important, it does not tell if your body is producing nitric oxide & protein GLUT 4 is activated. Therefore, even if you consume a “ MEAL” or “ FOOD” which has low or medium glycemic response, it is still going to trigger insulin resistance if your GLUT 4 is not activated. Our video discusses this in detail : https://lnkd.in/gE9E-JVr Sakshi Bali Shashi Shekhar M. Dr Kamal Karnatak Tarun Kumar Rupinder Singh #CGM #type2diabetes #insulinresistance #gutmicrobiome #nitricoxide

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Indian culture and society has got exposed with one comment from Sam Pitroda about our own attitudes towards racism. A party supporters felt insulted when compared to other races of other continental regions. Funny thing here - the comment was made with true intent of showcasing "diversity and pluralism" of our country. And during election process, it has been twisted to share outrage and even party Sam Pitroda represented yielding to this outrage. Are we saying African, Chinese or Arabs genealogy are inferior to Indian genes or origins. If we don't then there was no question of an outrage. If we have this outrage then we need to share our thoughts with our friends overseas also about our beliefs. Are we saying, as Indians we are a superior race to others mentioned by Sam Pitroda. If we emphasize civilisizational progress and maturity or maybe some superiority intellectually, some can claim it but it cannot be done in the name of race. A country where matrimonial ads come with "Gori girl" and "Fair & lovely" ads used to be the norm and inherent racism built with casteism in our society, do we have right to protest. And see who is protesting, the ones doing it are firm believers of caste system theories and origins of the same. So for me, this incident showcases the civilizational intolerance, decline and intellectual degradation when we see debates happening of this comment. It is a matter of shame for our nation to even indulge in any debate or politics and rhetorics on this subject. Now to view it scientifically, sharing a study here which classifies certain factors on amalgated genes across development of our Bharatiya civilization. Ashish Kothari rahul banerjee S S Badhawan Subhasri Prasad Curtis Ogden John Fullerton Bhartiya Janta Party (BJP) Indian National Congress Prem Panicker #racism #indiangenealogy #originsofindia https://lnkd.in/dEnUwiFa

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Last year, I read "Bottle of Lies," a book recommended by a friend in the Indian pharma sector. It was both fascinating and infuriating. The book, a stellar piece of investigative journalism, exposes the quality issues in generic drugs produced in India for American consumers. The most upsetting part? The real victims are often Indian consumers, with a seemingly indifferent regulator. Covering the 2004-2014 period, the book prompted me to keep an eye on the industry. Fortunately, a recent CARE ratings report shows signs of improvement. India Pharma companies faced their toughest years from 2013 to 2017, with Official Action Initiated (OAI) observations ranging from 15-20%. However, compliance standards have since improved significantly. India now leads globally in USFDA-certified pharmaceutical facilities, surpassing the US itself. As a major supplier of generics to the US, India's drug export share stood at 31% in FY24. The FDA has ramped up surveillance on Indian companies. Despite the increase in USFDA-approved sites, the proportion of OAI observations remains at 10% of total inspections in 2023. Additionally, the incidence of Warning Letters (WL) and Import Alerts (IA) has dropped to 11% in 2023, down from 15% and 16% in 2017 and 2020, respectively. India’s regulatory compliance record now outshines countries like China, Mexico, and Korea, though it still trails behind the UK, Germany, Italy, and Spain, indicating room for growth. The Indian pharma industry is heading in the right direction. However, even 10% of observations are 10% too many. Maximum compliance is crucial, as the health and lives of citizens are at stake. As a side note, while I found the book to exhibit a bias against India and Indians in some instances, it remains a commendable piece of investigative journalism.

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📢 Peak XV Partners, ChrisCapital sheds stake in Awfis Peak XV Partners, earlier known as Sequoia India, sold shares worth Rs 253 crore in the IPO. Before the issue, it held a 22% stake. It will see returns of almost 3X on the seven-year-old bet, where its average investment price was Rs 136 per share. Peak XV had also sold shares of about Rs 40 crore just before the issue. The shares of co-working space provider Awfis debuted on the National Stock Exchange on Thursday, May 30, climbing 10% post-listing to Rs 419. This gives the company a market capitalisation of Rs 2,900 crore. Read full story ⬇ https://lnkd.in/ggFczCUe https://lnkd.in/ggFczCUe

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Why Prashant Kishore echoes Ray Dalio This morning, I read an interesting article in BusinessToday about Prashant Kishore's expectations for Modi 3.0. He predicts significant structural and operational changes, with a concentration of both power and resources at the Centre, including bringing petroleum under the ambit of GST. While the merits of these changes can be debated, what's fascinating is how Kishore's predictions align with Ray Dalio's historical framework in his book, The Changing World Order. Dalio outlines a cyclical pattern where nations begin with a period of civil strife, followed by the emergence of a leader who consolidates power. This consolidation phase often leads to the creation of strong, centralized institutions and a subsequent period of prosperity. However, this prosperity can eventually lead to excess, inequality, and renewed conflict, continuing the 150 year cycle. India, it seems, is currently in the consolidation phase. If Kishore's predictions hold true, this could pave the way for decades of growth and development. As an observer, both having lived in India and seen it from the outside, the fact that India boasts a stable economy and a stable political system, despite the apparent chaos (which democracy isnt?) , is commendable. Very few emerging or developing economies can claim a vibrant economy alongside a strong, thriving democracy. The phase of consolidation is an inevitable part of evolution, and if Mr. Modi is the leader to unite India, then Dalio's exposition suggests that we are on the right track for decades of prosperity ahead. One unique aspect of India's political landscape compared to the US is its multi-party system, which brings regional priorities to the national level. Regional parties have a significant say through alliances, whether NDA or I.N.D.I.A, making India a more represented democracy. Consolidation of power, therefore, involves considering the views of all stakeholders lead by a decisive leadership. Kishore's observation about the potential for increased consolidation seems plausible. For instance, the world's biggest fiscal consolidation initiative in recorded history, the GST reform has seen collections grow from ₹80,000 crores per month in 2016 to ₹200,000 crores now, significantly outpacing the economy's growth. This increase clearly illustrates the benefits of consolidation. Only time will tell if these predictions come to fruition, but if they do, India might well be on the cusp of a transformative era. What are your thoughts on this alignment between historical cycles and current political predictions? #India #Politics #Economics #RayDalio #PrashantKishore #Modi3 #Growth #Prosperity #HistoricalPatterns #GST #EmergingMarkets #Democracy

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CA KKAWASTHI GLOBAL MARKET WATCH 17-06-24... After recent political developments in France and resolution passed in G-7 Meet at Italy , markets are visualising Geo political uncertainties again. So today most of global markets are going to trade subdued and under pressure only. In India markets are closed today .

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Was nice to share some thoughts with Akshata G. and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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IAN Group portfolio company Noccarc, having received the prestigious Bureau of Indian Standards (BIS) Certification, has achieved a significant milestone yet again! Companies like Noccarc demonstrate the power of disruptive #ideas, which translate into impactful #solutions that not only address critical needs but also meet the highest quality standards. Successful implementation of innovative healthcare solutions hinges on achieving a balance between six key factors: efficiency, effectiveness, quality, sustainability, safety, and affordability. Noccarc, which pivoted from #cleantech to #healthtech during the COVID-19 pandemic, embodies this blend of traits. NOCCARC is currently developing a portfolio of products for the ICU, leveraging ground-breaking technology while building enviable revenues. Its smart ventilator has proved crucial not only in patients' recovery but also #healthcare providers' service delivery.

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Shifting Perspectives from Reactive to Proactive Healthcare. I recently wrote an article in the India Pharma Outlook magazine on a critical topic in healthcare - Biomarkers in Modern Diagnostics Facilitating Preventive Healthcare. Mr. Thiruamuthan T K from the India Pharma Outlook magazine helped me in sharing my thoughts. I am grateful for the opportunity. As a staunch advocate of preventive healthcare, I believe specific biomarkers can help identify and pick up medical conditions at a stage that benefit the healthcare professionals to treat patients more effectively. This article touches upon the importance of specific biomarkers such as - - PAP smears with HPV testing.  - The evolution of Genomic testing.  - What are the different tumour markers?  - Why do you need to check your Vitamin D? - Why is Lipid profile one of the most common tests?  - How can you correctly identify whether you have side effects of Diabetes? And much more. I hope you find this article useful and helpful. It is meant to stir your thoughts to be proactive in taking care of yourself and your family. Check the detailed article right here -https://lnkd.in/dd6a5XRH PS: I am starting my newsletter, '𝐌𝐢𝐜𝐫𝐨𝐬𝐜𝐨𝐩𝐞 & 𝐁𝐞𝐲𝐨𝐧𝐝', dedicated to healthcare and entrepreneurship, reflecting my relationship and lessons from both. I will share my insights every 2nd and 4th Thursday at 9 am IST. Stay tuned for the first edition going live on 13th June.

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THE EQUITY-FREE FUNDING !!! Debt financing is increasingly important for startups, offering a way to grow without diluting ownership. It's particularly useful for startups that qualify, providing a cheaper growth path. However, it's not suitable for all, as qualification in the eyes of lenders can be challenging. #debt #debtfinancing

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Will pakistan be able to increase their pharmaceutical share to the 1/3rd of indian pharmaceutical? Major challenges includes: - #DRAP lack of commercial understanding hinders exports - #Liquidity issues restrict #international_marketing - Protective duty on APIs makes Pakistani medicines uncompetitive - Unstable supply chain and raw material procurement - Government support crucial for #growth What one strategy would you implement to address regulatory, liquidity, and supply chain challenges? #pharmaceuticalexports #Pakistan #govtofpunjab #healthcare

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GRM OVERSEAS BOARD OKAYS FUNDRAISE OF RS 136.5 CRORE GRM Overseas, an FMCG and basmati rice exporting company, has announced that the board has approved the fund-raise of Rs 136.5 crore through the issue of share warrants on a preferential basis to 33 promoters and non-promoter investors. READ MORE https://lnkd.in/dH3rbuw4 BANKERS BACK BPCL RS 32K CR LOAN, CAUTIOUS ON VODAFONE IDEA'S RS 23K LOAN Two of India’s largest loan proposals in recent history, amounting to a combined Rs 55,000 crore, have stirred varied reactions from lenders. READ MORE https://lnkd.in/drJgcsFp

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Episode 11 - Bullish on NIFTY & India's Booming Defense Sector | Filter Coffee with Quantace Welcome to Episode 11 of Filter Coffee with Quantace! In this episode, Shubhada Patil, speaking on behalf of SEBI-registered Research Analyst Karthick Jonagadla , dives deep into two compelling topics: why we’re bullish on NIFTY for July 2024 and the reasons behind the booming Indian defense sector. https://lnkd.in/dNcjfq2e Topics Covered: 1) Bullish on NIFTY for July 2024: We explore the key factors driving our optimism, including FIIs' long positions, DIIs' recent activity, and the role of retail investors in options. We also highlight the sectors set to perform well. 2) India’s Booming Defense Sector: Learn about the government policies, strategic initiatives, and investment opportunities propelling the defense industry to new heights. We discuss the impact of domestic production, key players, and the projected ordering opportunities over the next 8 years. This episode is packed with insights for investors and market enthusiasts alike. Remember, this content is for informational purposes only and does not constitute any buy or sell recommendations. Don’t forget to follow us to stay updated on the latest market trends and insights. Quantace Investment Page : https://lnkd.in/e3iNgZF6 To Contact us: Please send a WhatsApp message at +91 96199 27668 or email to: info@quantaceresearch.com ******************************************************************************** Let's explain some key terms. The Live Performance which you see is maintained by Smallcase and it is a third-party independent platform and it depicts the actual and verifiable returns generated by the baskets of Quantace Research. Live performance does not include any backtested data or claim and does not guarantee future returns Disclosures By proceeding, you understand that investments are subjected to market risks and agree that returns shown on our platform were not used as an advertisement or promotion to influence your investment decisions. This is purely for information purposes only so that our investors are up to date and taking better-informed decisions and not some random one-off decisions. Full disclosures can be found on our Website. Quantace Research a SEBI registered Research Analyst(INH000008312) #NIFTY #IndianStockMarket #DefenseSector #Investing #StockMarketAnalysis #Finance #MarketTrends #Equity #InvestingTips #India #Bullish #StockMarket #InvestmentStrategy #Economy #FinanceInsights #MutualFunds #FIIs #DIIs #DefenseIndustry #MakeInIndia #Quantace #FilterCoffeeWithQuantace 

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Is our gut feeling linked to more than just instinct? I was recently invited to be part of a session on World Microbiome Day with the team at Microbiome Research Pvt Ltd. Sachin Parikh, thank you for inviting me for the event. Microbiome Research Pvt Ltd, under the leadership of Ravi Shroff, and Dr. Gautam Das, Ph.D., is doing some pioneering work to unravel some of medical mysteries that may be more than just a “good gut feeling”. The panel discussion highlighted the importance of gut health testing - the study of dysbiosis, how it is evolving with steady strides, and the way gut health shapes our health. Dysbiosis refers to an imbalance of the microbial flora in the gut, which can lead to various health issues. This imbalance can result from factors like poor diet, antibiotics, infections, and stress. Over the years, we have become more aware of our gut health and the presence of normal and abnormal bacteria. As part of the panel discussion, the importance of gut health testing was discussed and how the presence of bacteria in our intestines impacts overall health, cancer, metabolic diseases, autism and so much more. Two key messages I would like to share as takeaways - 1. 𝐂𝐚𝐮𝐬𝐞 𝐚𝐧𝐝 𝐞𝐟𝐟𝐞𝐜𝐭 𝐢𝐬 𝐠𝐞𝐭𝐭𝐢𝐧𝐠 𝐛𝐞𝐭𝐭𝐞𝐫.  ✓ Currently healthcare largely addresses only the effect and treating it - symptomatic approach.  ✓ With the study of gut health, the attempt is to figure out the cause of medical conditions and how is it related to dysbiosis. 2. 𝐆𝐮𝐭 𝐡𝐞𝐚𝐥𝐭𝐡 𝐭𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐬 𝐞𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐫𝐚𝐩𝐢𝐝𝐥𝐲.  ✓ It will give a better idea how we can manage the underlying condition.  ✓ If we can change lifestyle and diet to increase good bacteria, it will positively impact our gut health.  ✓ To find natural ways to address gut health and manage it. With the evolution of medical science, gut health testing may become a part of a regular health checkup and help take care of our overall health. As they say - a healthy gut leads to a healthy body and mind; and we are now putting science to work on this fact. I would like to know from you -  → Have you heard of gut health testing before?  → Have you got your gut health tested? What was the outcome? Unnati Dev Sanober Waghoo Upasana Mangrolia, Ph.D. Garima Suneja

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Thrilled to share an exclusive look at the launch of EMFACE Submentum, BTL's groundbreaking non-invasive solution for treating double chins, at SKUCCII Supercliniq in Lower Parel, Mumbai, India. 🌟 In this video, visionary Founder, Dermatologist, and Medical Director of SKUCCII Supercliniq, Dr. Meghna Mour introduces EMFACE Submentum and its transformative benefits. Dr. Harish Balaji, an expert dermatologist, then shares his clinical insights on how this innovative technology works. 💡 ⚕️Featured Technology: The FDA-Approved EMFACE Submentum applicator is transforming non-invasive submental treatments with its simultaneous emission of Synchronized Radiofrequency (RF+) and High-Intensity Focused Electromagnetic Stimulation (HIFES). This innovative technology targets three layers in the submental region: 🔹 Selective Muscle Stimulation: HIFES selectively improves the resting muscle tone of Anterior Belly of Digastric Muscle by targeting the Mylohyoid Nerve (a branch of Inferior Alveolar Nerve, branch of Trigeminal Nerve). Fibres of Platysma muscle are not stimulated or targeted at all. 🔹 Fat Reduction: Synchronized RF+ temperature in the submental area exceeds 42°C. This induces preplatysmal fat apoptosis, in the submental region only, reducing fat volume there. 🔹 Skin Tightening: RF heating also tightens the overlying skin and reduces static rhytids by stimulating the fibroblasts to produce more collagen and elastin. 🔬Clinical Evidence: ▪️ Animal Studies: Significant increase in fat apoptotic levels by 4.8 times (4.8X*). ▪️ Human Studies: Histology shows a significant increase in apoptotic cells. MRI evaluation shows a 25%* decrease in submental fat volume. ▪️ Multimodal Approach: Volume reduction of the "double-chin" area by 31%*, reflected in 3D photo evaluation. 🙋‍♀️Patient Results: ▪️ Histology: Increase in collagen and elastin content by 33%* and 113%*, respectively. ▪️ MRI Evaluation: 25%* decrease in submental fat volume. ▪️ 3D Photo Evaluation: Reduction of 5.78 ml* in the submental area. ⏰Treatment Details: ▪️Treatment Schedule: 4 to 6 treatments, once per week, each lasting 20 minutes. Experience the Power of EMFACE Submentum 💪 *Data on File. Average gains / improvement. #Repost @btlaestheticsindia @skucciisupercliniq @faceandskinclinic_mm @dr.harishbalaji_skindoc Courtesy Dr. meghna mour, Dr. Harish Balaji #BTLAestheticsIndia #SKUCCIISupercliniq #EmFaceSubmentum #NonInvasive #TransformativeTechnology

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Today's Headlines from : *Economic Times* 📝 Drug regulator forms panel to evaluate OTC candidates 📝 PE fund Apax to step up India play with new team 📝 Pvt sector capex likely to expand amid expectations of high growth: Experts 📝 IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24 📝 India's coal import rises 8% to 268 MT in FY24 📝 MoSPI says 449 infra projects hit by cost overrun of Rs 5.01 lakh cr in March 📝 India all set to overtake Japan as 4th largest economy by 2025, predicts Amitabh Kant 📝 General Atlantic, TPG Capital, two other PEs in race for Altimetrik 📝 Escorts Kubota plans to invest up to Rs 4,500 cr in new plant over next 3-4 years 📝 M3M to lease 1.5 million sq ft of commercial space in 2024-25 📝 NCLT admits insolvency resolution application against Indira Container Terminal *Business Standard* 📝 Public procurement norms: Govt may hike local content requirement 📝 SBI to hire over 15,000 in FY25 to boost operations, expand network 📝 Over 250,000 Infosys employees are trained in GenAI: CTO Tarafdar 📝 China credit shrinks for first time, decreases by almost $28 billion 📝 Tata Power to sell green energy to group companies, MNCs: Praveer Sinha 📝 India likely to export almost 18 million tonnes of rice in 2024-25: USDA 📝 Air India's international cargo business takes wings, not so for IndiGo 📝 South Korea plans $7.3 billion program to support semiconductor industry 📝 Pfizer, AstraZeneca announce new investments of nearly $1 bn in France *Financial Express* 📝 Amplus Solar aims at 2 GW RE capacity by December 📝 Report on infra requirements to hit $1-trillion exports to be ready by Aug-Sept: Govt 📝 Go Digit expects solvency ratio to surpass 200% post IPO 📝 Centre may raise MGNREGA outlay in full Budget *Mint* 📝 Apple aims to make a quarter of all iPhones in India by 2028 📝 IMD forecasts rainfall, thunderstorms, gusty winds in east and central India 📝 JK Cement Q4 results: Net profit rises 101% to ₹220 crore, declares dividend 📝 Afghanistan floods kill 315, aid agencies warn of widening havoc 📝 India’s influencer marketing industry to swell to ₹34 billion by 2026 📝 Q4 results so far: Revenue up 14.4%, bottomline surges 24.7% 📝 Adani Enterprises to invest ₹80,000 crore in current fiscal

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