Artemis, Philips sign pact for healthcare research

Artemis Health Sciences, promoted by the Apollo Tyres group Chairman Onkar S Kanwar, has signed a first-of-it-kind agreement with global medical equipment major Philips Medical Systems for exclusive partnership in healthcare delivery and research.

While Philips will supply $7 million worth of state-of-the-art medical equipment to Artemis Health Institute at Gurgaon near New Delhi, the latter would share real time scientific data generated out of the treatments with Philips.

The feedback would be utilised for modification of Philips' existing medical equipment and also help the company develop patient-centric products for the future, Artemis CEO Dr Kushagra Kataria said.

The Rs 200 crore hospital project, which will be functional from April 13, will specialise on three major health problems - cardiovascular diseases, oncology and orthopaedics. The hospital, which will begin functioning as a 260 bed facility, will increase its bed capacity to 500 within a year.