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Business Standard
2 days ago
- Health
- Business Standard
Centre to aid development of indigenous thrombectomy device for stroke
Technology Development Board to fund S3V Vascular Technologies for manufacturing India's first thrombectomy device, aiming to reduce import dependency and boost stroke care Sanket Koul New Delhi In a push for India's medtech innovation landscape, the Technology Development Board (TDB), under the Centre's Department of Science and Technology (DST), on Friday announced financial support for the development of India's first indigenous thrombectomy device for stroke care. A thrombectomy device is a specialised medical tool used to remove blood clots—also called thrombi—from blood vessels, particularly in the brain, to treat ischaemic strokes. Under the support programme, the TDB will sanction financial assistance to Mysuru-based S3V Vascular Technologies for the establishment of a state-of-the-art upstream integrated manufacturing facility at the Medical Devices Park, Oragadam, in Chennai's Sriperumbudur. Commenting on the development, TDB Secretary Rajesh Kumar Pathak said the project reflects the continued commitment to making India a global hub for affordable, high-end medical technology, especially in areas of critical public health need like stroke care. According to a study recently published in The Lancet Neurology journal, India registered over 1.25 million new stroke cases in 2021, a 51 per cent increase compared to 650,000 cases in 1990. Dr N G Vijaya Gopal, Managing Director of S3V Vascular Technologies, said the company's integrated manufacturing facility will not only reduce dependency on imports of the finished medical devices used in mechanical thrombectomy but also reduce India's reliance on the import of raw materials required for the manufacturing of these complex, life-saving devices. The company stated that it aims to integrate these devices into government reimbursement programmes such as Ayushman Bharat, thereby unlocking a domestic market estimated at $2 billion. 'As part of its outreach, S3V also plans to collaborate with leading hospitals to offer simulator-based training for young interventionalists—especially in Tier-II cities, where the stroke burden is high,' it said. Gopal added that S3V has initiated the CE and USFDA approval process for these devices to expand access to cutting-edge stroke care solutions across India, Asia, Latin America, Europe, and the United States. The company also intends to file patents for critical innovations such as the clot retriever head design, braid-over-coil aspiration catheter structures, and several advanced process technologies.
Hans India
2 days ago
- Health
- Hans India
Govt to aid development of India's 1st indigenous thrombectomy device for stroke care
New Delhi: In a significant boost to India's medtech innovation landscape, the Technology Development Board (TDB), under the Union Department of Science and Technology (DST), on Friday announced financial support to the development of India's first indigenous thrombectomy device for stroke care. The board sanctioned assistance to Mysuru-based S3V Vascular Technologies' pioneering neuro-intervention integrated manufacturing plant for the treatment of stroke, which sees nearly 1.5 million cases every year in the country. The project envisions the establishment of a state-of-the-art upstream integrated manufacturing facility at the Medical Devices Park, Oragadam in Chennai's Sriperumbudur. The plant will develop and manufacture advanced mechanical thrombectomy kits -- a life-saving intervention for patients suffering from acute ischemic stroke due to large vessel occlusion. Compared to conventional thrombolysis, thrombectomy offers significantly improved outcomes, reducing the risk of long-term paralysis and disability. "The TDB is proud to support S3V's vision of building India's first comprehensive neuro-intervention manufacturing ecosystem. This project reflects our continued commitment to making India a global hub for affordable, high-end medical technology -- especially in areas of critical public health needs like stroke care," TDB Secretary Rajesh Kumar Pathak said. "The company's focus on integrating these devices into Ayushman Bharat further aligns with the national goal of inclusive healthcare access," he added. The initiative will help replace expensive imported devices with high-quality, locally manufactured alternatives, enhancing both the affordability and accessibility of stroke care in India. "Our integrated manufacturing facility will not only reduce dependency on imports of the finished medical devices used in Mechanical Thrombectomy but also reduces India's dependency on import of the raw materials used in manufacturing of these critical complex lifesaving medical devices," S3V Vascular Technologies Managing Director, Dr N.G. Vijaya Gopal, said, while lauding the government for its support. Gopal said the company has already initiated the CE and the US FDA approval process for the devices to expand access to cutting-edge stroke care solutions across India, Asia, Latin America, Europe, and the US.
Zawya
2 days ago
- Business
- Zawya
Afreximbank tells investors Ghana up to date on loans, risking creditors' ire
LONDON - Afreximbank has signalled that Ghana has kept up loan repayments to it, two sources told Reuters, potentially setting Accra on a collision course with its other lenders that have already agreed to take losses to help the country recover from default. The African lender, the sources said, told investors on a May 15 call that Ghana and Malawi - which is also undergoing a debt restructuring - were "up to date" with their loan facilities, suggesting neither country had run up arrears. While Ghana's restructuring of $13 billion worth of international bonds and debts to official creditors concluded last year, it must also restructure its commercial debt before it can fully emerge from default. Afreximbank says it is a multilateral institution which, like the IMF and the World Bank, is exempt from taking losses when countries default. But sources told Reuters last month that the Paris Club group of official lenders has made it clear that Ghana, and also Zambia which similarly agreed a deal with its primary creditors last year, must restructure their debts to Afreximbank and the Eastern and Southern African Trade and Development Bank (TDB). In a letter seen by Reuters from Ghana's finance ministry to Afreximbank, dated May 21, the government requested the bank to begin debt treatment discussions. "The objective of these discussions is to identify debt treatment solutions that are acceptable to Afreximbank, while ensuring Ghana complies with the debt sustainability parameters of the IMF programme and the Comparability of Treatment principle as assessed by the OCC," the letter said. Ghana said in a statement on Thursday that it remained in arrears with all external creditors eligible for restructuring and that no creditor had been treated preferentially. Afreximbank declined to comment beyond a May 21 statement saying it was not participating in debt restructurings with member countries. Ghana defaulted in 2022, spurring the worst economic crisis in a generation against the backdrop of the COVID pandemic, Russia's invasion of Ukraine and higher global interest rates. The gold, cocoa and oil-producing nation owes Afreximbank at least $750 million, which, if counted as commercial debt, would make up almost a quarter of the country's near $4 billion of such loans, according to think tank ODI Global. It is unclear when Ghana and Malawi were due to make payments to Afreximbank. The timing is particularly pertinent for Ghana after it included a clause in international bonds issued late last year as part of its debt rework stipulating it cannot treat commercial creditors better than its bondholders. "Zambia, Ghana and Malawi are caught in the middle between different creditors," said Chris Humphrey, a senior research associate with ODI, adding that "they're being forced to make a difficult decision". Malawi and Zambia did not immediately respond to requests for comment. Zambia has also told other media that it would restructure Afreximbank debt. LENDER OF LAST RESORT Afreximbank, with a $42 billion balance sheet and shareholders including governments and private investors, is an important lender to the continent, particularly as concessional finance and aid funding shrink. Lutz Röhmeyer, head of portfolio management at Capitulum Asset Management, which holds Ghanaian bonds, said the bank is important for countries when they cannot access bond markets. "If you do not get any funding, you have to cut government spending." If Afreximbank's loans are deemed eligible for restructuring, its credit rating could be affected, in turn pushing up its own borrowing costs, its investors said. Fitch rates the lender 'BBB' and Moody's 'Baa1'. Afreximbank said in its first-quarter report that for its $27.8 billion loan book, its non-performing loans ratio was 2.44%, without identifying individual clients. Fitch warned last year that an NPL ratio above 6% was among factors that could lead to a negative rating action or downgrade. While some of its lending is at rates above those that are widely considered concessional terms, some point to Afreximbank's willingness to step in as a lender of last resort at times of strife for countries such as Ghana. Accra paid as much as 9.55% to the lender for parts of its loan arranged in 2022, shortly before it tumbled into default.
New Indian Express
5 days ago
- Politics
- New Indian Express
TDP dissolves temple panel after RSS song, flag controversy during festival
KOLLAM: The Travancore Devaswom Board (TDB) has dissolved the advisory committee of the Manjippuzha Sree Bhagavathy Bhadrakali Temple following a controversy surrounding the performance of an RSS prayer song and the hoisting of political flags during the temple's annual festival. The decision came after an internal inquiry confirmed that the RSS Gana Geetham was sung during a music programme held in April as part of the festival. The concert was sponsored by Team Chhatrapati, a local group. Additionally, investigations revealed that the flags of the Bajrang Dal and RSS were hoisted within the premises of the Kottukkal Bhagavathy Bhadrakali Temple, which falls under the jurisdiction of the Manjippuzha Devaswom. According to the inquiry report, flagpoles were installed with the knowledge of certain committee members and temple staff. The TDB cited serious lapses by the advisory committee in both instances as grounds for its dissolution.
The Hindu
23-05-2025
- The Hindu
HC orders action under Wildlife Protection Act against people dumping, burning waste at Sabarimala
Taking note of the indiscriminate dumping of garbage at Sabarimala, the Kerala High Court has ordered initiation of action under the Wildlife Protection Act against those responsible for dumping and burning waste at the hill temple during the Mandala-Makaravilakku season. This followed the death of two elephants and a deer after consuming plastic waste dumped on the temple premises. Periyar Tiger Reserve officials had submitted a report that elephants were coming in herds to eat garbage, especially empty plasticbags in which jaggery had been stored. Other wild animals too were often seen consuming this waste. Stating that the Sabarimala Sannidhanam was situated in a core and critical area of the Western Ghats, a biodiversity hotspot recognised as a world heritage site by the United Nations Educational, Scientific and Cultural Organisation, the court directed the Deputy Director of the tiger reserve to take action under the provisions of the Act. It is estimated that the average quantity of waste generated at Sabarimala during the Mandala-Makaravilakku festival season is 24 tonnes a day. Many hotels fail to segregate food and plastic waste into biodegradable bags for disposal. The court also directed that the ban on use of plastic and other bio-hazardous materials at Sabarimala and along the trekking path from Pampa to the Sannidhanam ought to be implemented scrupulously by all concerned and appropriate action be taken against those who violated it. For stocking or dispensing plastic in any form by commercial establishments at Sabarimala and surrounding areas, including the trekking path to the Sannidhanam, a fine of ₹2,000 shall be levied by forest officials for the first offence, ₹5,000 for the second offence, and closure of the establishment for subsequent offences. The Travancore Devaswom Board (TDB), through the Executive Officer, Sabarimala, must close down the establishment which committed such an offence for the third time, it said. The court directed the TDB to politely inform pilgrims, including those coming from other States, to exclude plastic materials during the pilgrimage. An advisory to this effect must be published on the virtual-Q platform, for the information of the pilgrims, it added.
