Pune hospital to treat acid, burn victims for free

January 2, 2015

Pune, Jan 2: A hospital here founded by the doctor-son of a daily labourer and which celebrates the birth of every girl child will now set up a one-of-a-kind burns centre that will treat all women victims of acid attacks or burns free of charge.

acid-attack

"Women who are targets of acid attacks or dowry and torture burns shall be given completely free treatment at this centre. However, if there are male victims, they will be charged as usual," Ganesh Rakh, doctor and founder-owner of Medicare Hospital of Hadapsar, a suburb of Pune, said.

The idea came to Rakh a couple of months ago when a 22-year-old newly-married woman became a victim of dowry harassment. She was allegedly set ablaze by her in-laws and was brought to his hospital

"We don't have the specialised treatment for such cases and the sole private hospital in Pune quoted Rs.30,000 per day for treatment for an indefinite period," Rakh said.

When he informed the woman's family, they said if they had that kind of money, they would have agreed to the dowry demands and their daughter would have escaped her current fate.

Rakh was moved by the woman's plight and decided to do something about it.

After consultations with colleagues and experts, he decided to set up a burns centre that offers free treatment to women victims from any part of the country.

Rakh's "Save the Girl Child" campaign, launched Jan 3, 2012, has already earned him a huge fan following as it celebrates its third anniversary this Saturday.

In the past three years, the 50-bed maternity hospital has conducted 314 free deliveries of female infants, natural or through Caesarian section.

In August 2014, Rakh took another step of opening a 15-bed Neonatal Intensive Care Unit (NICU) at a cost of Rs.2 million.

The unit offers free treatment and care to all premature female newborns till they are fit to go home.

"In our modest way, we have tackled the issue of female births, taking care of them and now we shall pay attention to their future," Rakh said, explaining the philosophy behind the burns centre.

He plans to use the excess income from the maternity hospital (where male child birth is charged normal rates) and the NICU (ditto for male child) in the burns centre.

"It will be the most modern centre of its kind in India and will cost around Rs.10 million. I have sought a bank loan, but in case there are delays, a private firm has assured us all the required equipment on a hire-purchase basis," Rakh said.

The facility will be inaugurated in April, he said.

Rakh said that even 68 years after independence, many girls become victims of acid attacks, are slashed by blades, and married women are burnt for not meeting dowry demands.

"Anything happens to them and they are disfigured and shattered for life. The tragedy is that a vast majority are unable to afford the expensive treatment. There are government hospitals, but the facilities there are basic and mostly intended to save the victim's life.

"But what about preparing the victim to face society and living a normal life again, as nobody looks at them, socialises or employs them and all avoid them," he said.

The burns centre will have a care department, a sophisticated operation theatre, a burns ICU, plus plastic surgery and other post-operative requirements.

"It will be a one-stop burns centre. The victims who come here will step out with a new look to face life confidently," Rakh assured.

Given the financial constraints, at least a dozen plastic surgeons and burns care specialists from Pune and other parts of Maharashtra have already committed to offer free services to patients.

Quoting current figures, Rakh said a victim with just 40 percent burns would need to spend a minimum of Rs.1.5-2.5 million for complete treatment -- which will be done for free at the Medicare Burns Centre.

He said the hospital will also arrange for the lodging of the victim's relatives so that they are not compelled to live in miserable conditions outside.

When he started the hospital in 2007, after begging for loans from friends and relatives, most people ridiculed his plans.

"If you don't charge for female child's deliveries, how will you repay your Rs.1 crore loan?" aghast lenders demanded.

The son of a daily labourer Adinath (now 68 years old), and domestic worker Sindu (now 61), Rakh who qualified as a doctor in 2001, set up a roaring private practice, simultaneously completed his gynaecology specialisation and went ahead with his pet plans from day one.

Hailing from a very poor family in Solapur, his parents migrated to Pune in search of work. As Rakh was good in academics, he secured scholarships in school and college till his medical degree. "It's now my turn to repay society," Rakh said.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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Agencies
May 20,2020

In a bid to help struggling small businesses in Covid-19 times, Facebook has introduced Shops to help set up a single online store for customers to access on both Facebook and Instagram.

While Facebook Shops is being rolled out from Wednesday, the company will introduce Instagram Shop, a new way to discover and buy products in Instagram Explore, this summer, starting in the US.

The social networking giant also announced that it will invest in features across its family of apps to inspire people to shop and make buying and selling online easier.

"Creating a Facebook Shop is free and simple. Businesses can choose the products they want to feature from their catalogue and then customise the look and feel of their shop with a cover image and accent colours that showcase their brand," Facebook said in a statement late Tuesday.

Any seller, no matter their size or budget, can bring their business online and connect with customers wherever and whenever it's convenient for them.

People can find Facebook Shops on a business' Facebook Page or Instagram profile, or discover them through stories or ads.

"From there, you can browse the full collection, save products you're interested in and place an order — either on the business' website or without leaving the app if the business has enabled checkout in the US," informed the company.

Last month, Facebook announced $40 million in grants for 10,000 small businesses in the US to help them get through these challenging time.

The grants will go to small businesses in 34 locations where Facebook employees live and work.

The company said that in Facebook Shops, users will be able to message a business through WhatsApp, Messenger or Instagram Direct to ask questions, get support, track deliveries and more.

In the future, they will be able to view a business' shop and make purchases right within a chat in WhatsApp, Messenger or Instagram Direct.

Later this year, Facebook will add a new shop tab in the navigation bar, so people can get to Instagram Shop in just one tap.

Facebook said it is making it easier to shop for products in real time.

Soon, sellers, brands and creators will be able to tag products from their Facebook Shop or catalogue before going live and those products will be shown at the bottom of the video so people can easily tap to learn more and purchase.

"We're starting to test this with businesses on Facebook and Instagram, and we'll roll it out more broadly in the coming months," said the company.

Facebook is also working with partners like Shopify, BigCommerce, WooCommerce, ChannelAdvisor, CedCommerce, Cafe24, Tienda Nube and Feedonomics to support small businesses.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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