CM Jaya speaks using tracheostomy tube valve: Apollo chairman

Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.

The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud. 

The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt

"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.

"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.

The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.

The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.

As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.

The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."

Bengaluru, Jun 28: Karnataka Minister for Medical Education Dr K Sudhakar faced criticism by netizens after he shared a TikTok video sent by his daughter and wife, who are currently undergoing treatment in a COVID-19 facility.

TikTok is a Chinese video-sharing social networking service owned by ByteDance, a Beijing-based internet technology company founded in 2012 by Zhang Yiming.

Dr Sudhakar’s father, his wife and daughter who tested positive for Covid-19 has been admitted to a designated facility and in order to make his birthday memorable, his daughter sent him greetings through TikTok video.

When the minister shared the TikTok video, people pointed out that the minister should know better and that he should urge his family to boycott the Chinese video-sharing platform and lead by example.

Many were miffed that a BJP leader put up a TikTok video at a time when tensions are running high between India and China along the Line of Actual Control (LAC) in eastern Ladakh.

Udupi, Jan 17: In a unique philanthropic initiative, two US based NRI children have established the first unit of Keithan & Keisha Skill Development Centre at SVS English Medium School, Katapady in Udupi district.

The centre was inaugurated by Dr. Ranjan B. Kini, Professor of Management - Information Systems of Indiana University Northwest (UCN), USA on Saturday, January 11, 2020.

The centre will provide exposure to rural high school students in technical skills in emerging technological domains, soft skills and life skills through online training and video conferencing during weekend seminars. The centre is established by Keithan and Keisha with the help of their parents. They are the children of Katapady Krishna Mohan Pai, CEO of Invenger Technologies Inc., USA. One 55 inch LCD TV, two computers and one laptop were donated as part of the initiation package.

Dr. Srikanth Prabhu, Associate Professor, Department of Computer Science & Engineering, MIT, Manipal will be anchoring the training sessions which will cover emerging fields like Robotics, its impact and the opportunities in the future. The training will include international online programmes and video conferencing.

“In today’s competitive world, students need technical knowledge to keep pace with the changing scenarios. Along with technical exposure, they should also be equipped with soft skills, communication skills and organizing abilities,” said Dr. Ranjan B. Kini after inaugurating the first unit at SVS English Medium School, Katapady.

Dr. Srikanth Prabhu informed the gathering about the idea behind the project, explained its features and programmes. “If good awareness is given to students at a young age regarding latest developments in technical fields and if they are trained in soft skills and other complementary skills, they will be able to face the future with confidence and attain the heights of success even if beginning from zero,” he said.

Presiding over the function K. Sathyendra Pai, Director of Invenger Technologies said, “This is the first centre to be set up under our initiative to train rural children in add-on skills and help them to gain parity with better educated students.”  More such centres will be set up in other schools soon, he added.

Katapady Krishna Mohan Pai, CEO of Invenger Technologies Inc., Amith Nayak of Archana Developers, Umesh Rao, President of Rotary Club Katapady, Savitha Manjunath, PWD Officer of Udupi, technical experts Nidhi Manjunath and Mitesh Singh were the guests of honour. Directors of the company B. C. Pai, Srinivas Vasudev Kini and Venkatramana Bhat were present.

School Headmaster Devendra Nayak welcomed the gathering. Megha gave a vote of thanks. School teachers Uma and Chaitra along with other teachers coordinated the event. Student leaders Dhanush and Jessel Vinola Quadros compered the programme.