Fischer Medical Ventures Ltd Share Price – BSE

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Fischer Medical Ventures through its Wholly owned Subsidiary - Time Medical International Ventures (India) announced the successful partnering with Singapore-based innovators Nervotec to enable Blood Pressure, Hemoglobin and HbA1C screening through camera-enabled device. This collaboration marks a significant stride towards revolutionizing healthcare screening through advanced, contactless video-based vital signs monitoring technology.

Nervotec is a Singapore-based company that empowers predictive healthcare via its contactless solution without wearables. Nervotec's innovative solution uses remote photoplethysmography (rPPG) technology and artificial intelligence to measure physiological biomarkers such as heart rate, heart rate variability, respiration rate, oxygen saturation, stress scores and even blood pressure just from a person's face using any camera-enabled device like smartphone, laptop, or tablet. Users simply had to look at their camera-enabled device and within minutes, Nervotec's algorithms will analyze his/her vitals, making wearables or invasive procedures redundant. Clinically validated in Singapore, Nervotec's process is fast, accurate, and cost effective, a ground-breaking solution to enable large scale screening for early detection and intervention.

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Fischer Medical Ventures emerged as a leading entity through its wholly owned subsidiary Time Medical International Ventures (India) to indigenously manufacture advanced high quality, cost-efficient Magnetic Resonance Imaging (MRI) systems in India.

Apart from manufacturing medical imaging devices, Fischer Medical Ventures strategically invest into a portfolio of high-tech diagnostic solutions, such as DigiHealth Specialists Inc. (DigiHealth), a substantially-owned subsidiary company in the Philippines.

DigiHealth is a disruptive digital healthcare technology provider that aims to revolutionize primary healthcare by making it advanced, affordable, and accessible to all. The Company recently signed a Memorandum of Agreement (MOA) with RiteMED Philippines, Inc. (RiteMED), a leading player in generic medicine in the Philippines, in support of the nation's Universal Health Care (UHC) program.

The collective goal is to use DigiHealth's Automated Telehealth Machine (ATM) to bridge the gap in affordable quality healthcare with extensive primary care screening, simplifying doctor consultations and laboratory procedures, right in a premise with access to budget-friendly yet high-quality medicine, particularly targeting remote areas where access to quality healthcare remains challenging.

DigiHealth's ATM is an all-in-one health screening machine that conducts a comprehensive body diagnostic of over 60 clinical parameters within a mere seven (7) minutes.

Aside from basic vital signs and BMI calculations, sugar level checks, haemoglobin, cholesterol, vision test, rapid tests for infectious diseases, even mental health assessment and ECG can be done in DigiHealth ATM and consolidated in the patient's Electronic Health Record. Its user-friendly interface can display results directly on WhatsApp along with personalized lifestyle and dietary recommendations or printed directly from the machine, making complex health data immediately accessible and understandable.

DigiHealth ATM also integrates teleconsultation to registered doctors andlab results are sent speedily for faster and clearer diagnosis and medicalprescriptions.

DigiHealth now partners RiteMED, founded in 2002 by United Laboratories Inc (Unilab) and has since emerged the leading uni-branded generic company and most trusted pharmaceutical company in Philippines.

This strategic collaboration with RiteMED marks a significant milestone in Fischer MVL's journey towards expanding its global sales and enhancing its offerings in medical imaging and diagnostics solutions. The Company is currently exploring local partners to distribute their innovative DigiHealth ATM diagnostic kiosk worldwide.

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Net profit of Fischer Chemic rose 400.00% to Rs 0.60 crore in the quarter ended March 2024 as against Rs 0.12 crore during the previous quarter ended March 2023. Sales rose 6200.00% to Rs 11.34 crore in the quarter ended March 2024 as against Rs 0.18 crore during the previous quarter ended March 2023.

For the full year,net profit reported to Rs 0.40 crore in the year ended March 2024 as against net loss of Rs 0.04 crore during the previous year ended March 2023. Sales rose 6305.56% to Rs 11.53 crore in the year ended March 2024 as against Rs 0.18 crore during the previous year ended March 2023.

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Fischer Chemic will hold a meeting of the Board of Directors of the Company on 30 May 2024.

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