healthcare

March 12, 2020

Patient Safety Movement Foundation (PSMF) – a global non-profit dedicated to unifying those involved in the healthcare ecosystem, identifying challenges that are causing patient deaths, and creating actionable solutions to mitigate them – is pleased to announce the appointment of its new chairman of the board of directors – Michael A.E. Ramsay, MD, FRCA. It also reaffirms its commitment to patient health and safety with updates to its"...

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March 12, 2020

KUWAIT: In an effort to contain the coronavirus outbreak in Kuwait, the Ministry of Health’s hospital director recently sent internal memos to all staff urging them to be prepared and proactive in case they are called to face the challenge of dealing with coronavirus patients. The memorandum was sent through department heads addressed to all health personnel including physicians and nurses, urging them to delay their travels by up to six months and stand by in case of emergencies.

“Yes, we got the memo advising us to delay vacations for at least six months,” said a Filipino nurse working in a government hospital who spoke to"...

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March 12, 2020

A UAE-based company is set to quickly ramp up its production of face masks in order to meet soaring global demand.

Despite being asked by the White House to supply the US with masks, James Michael Lafferty, CEO of Fine Hygienic Holding (FHH), told Arabian Business his priority right now is ensuring there are enough reusable masks for the Middle East and North Africa (MENA) region.

“What we’re trying to do now is we’re trying to prioritise our region. I get a lot of requests from like the Mexican Government; I had a call on Friday with the White House,"...

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March 12, 2020

NMC Health uncovered $2.7 billion of debt hidden from its board that was used for unknown purposes, tipping the troubled Middle Eastern hospital operator into a full-blown accounting scandal.

The company, which until recently traded in the FTSE 100, is trying to establish the exact “nature and quantum” of the debt facilities, but some of the money may have been used for unauthorized purposes, NMC said late Tuesday. The discovery more than doubles NMC’s borrowings to around $5 billion, up from the $2.1 billion that was disclosed in June.

The revelations"...

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March 12, 2020

Regulatory News:

Vifor Pharma Group recorded strong financial and operational performance in 2019 by focusing on its three strategic growth drivers while continuing to invest in its pipeline. The company exceeded its raised guidance for full-year 2019 on both net sales and EBITDA.

FINANCIAL PERFORMANCE: STRONG SALES AND PROFIT GROWTH CONTINUES

March 11, 2020

Troubled healthcare operator NMC Health said on Tueswday that its debt levels have risen over the past six months and are currently estimated at $5 billion.

The announcement comes after UAE-based NMC hired Moelis and PwC to support the company in its discussions with lenders and to assist in providing transparency with respect to its financial position.

The board of NMC said it received an update on its financial position on Tuesday, with work on verifying the debt figure ongoing.

In addition"...

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March 11, 2020

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced the results from the TOURMALINE-MM2 study designed to evaluate the addition of NINLARO™ (ixazomib) to lenalidomide and dexamethasone in newly diagnosed transplant ineligible multiple myeloma patients. The addition of ixazomib to lenalidomide and dexamethasone resulted in an improvement in median progression-free survival (PFS) of 13.5 months (35.3 months versus 21.8 months;"...

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March 11, 2020

Global Health & Pharma (GHP), a global information sharing platform & a multi-disciplinary members community announced winners of the 2019 Technology Awards this month and recognised Sinterex as Best 3D-Printed Healthcare Products Manufacturer – Middle East.

In its announcement, GHP said, “Technology is a great force for change across numerous industries, sectors and fields. In the global healthcare industry, it has become a disruptive tool that is quickly revolutionising medical practice, research and pharmaceutical development. As technology continues to grow and develop in sophistication, finding factories of the future"...

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March 10, 2020

A UAE-based company has announced plans to set up a factory in Dubai to manufacture affordable masks and medical kits, which will be shipped to coronavirus-affected countries around the world.

Khurram Shroff, chairman of the IBC Group, said that Regal Global Trading, a local company backed by the IBC Group, will diversify its trading portfolio to include healthcare products.

Shroff said: “One of the biggest challenges the outbreak presents is that people are contracting the disease at a rapid rate, overwhelming healthcare services. We need to contribute to help"...

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March 9, 2020

Amanat Holdings, an education and healthcare investment specialist, abandoned talks to buy a stake in VPS Healthcare Group.

The Dubai-based company said 'both parties have agreed to stop their discussions in relation to the transaction.'

“Amanat will continue to assess other opportunities aligned with its investment strategy to establish platforms that can grow and scale profitably in order to build long-term value for shareholders,' the company said in a statement to Dubai Financial Market, where its shares trade.

Founded"...

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