Fischer Medical Ventures Launches New Subsidiary Flynncare Health Innovations

Fischer Medical Ventures Limited has announced the incorporation of its wholly-owned subsidiary, Flynncare Health Innovations Private Limited, effective July 29, 2024.

Flynncare Health Innovations Private Limited is established as a direct wholly-owned subsidiary of Fischer Medical Ventures, thereby categorising it as a related party.

The new subsidiary will focus on developing, designing, and providing health technology solutions. Its business will encompass creating software and applications tailored to various branches of medicine. This strategic move reflects Fischer Medical Ventures’ commitment to advancing healthcare through innovative technology and solutions.

The cost of acquisition for this subsidiary includes a share capital contribution of ₹1,00,000. This investment positions Flynncare Health Innovations Private Limited as a key player in the healthcare technology sector, aiming to leverage its expertise to deliver cutting-edge solutions in the field.

Earlier this month, the company confirmed its collaboration with Singapore company Nanyang Biologics (NYB), a leading drug discovery company dedicated to creating transformative nutraceuticals derived from natural plants & herbs. This strategic partnership aims to revolutionise the healthcare industry by delivering innovative, evidence-based products that enhance overall health and well-being, guided by rigorous scientific research and data-driven methodologies.

Before that, Fischer Medical Ventures also signed a Memorandum of Understanding with Tech Avant-Garde (TAG), an innovative educational solutions provider, to implement comprehensive health programs in educational institutions across India. This strategic partnership aims to drive holistic healthcare of students and their connected communities to enable a healthier and more conducive learning environment.

About Fischer Medical Ventures Ltd

Fischer Medical Ventures Ltd, previously Fischer Chemic Limited, is involved in the trading of chemicals and machineries. The company is known for providing affordable and accessible medical diagnostic and imaging technologies through innovative and AI-powered healthcare solutions.

In FY 2024, the company’s standalone revenue from operations reached ₹11,52.83 lakh, significantly increasing from ₹17.95 lakh in FY 2023. The company reported a profit of ₹40.28 lakh, a turnaround from a loss of ₹3.65 lakh in FY 2023.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.