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Hacker forum post claims UnitedHealth paid $22 mln ransom in bid to recover data

ReutersReuters · 1y ago
Hacker forum post claims UnitedHealth paid $22 mln ransom in bid to recover data
Medial

According to a post on a hacker forum, UnitedHealth Group is alleged to have paid $22 million to the "Blackcat" ransomware gang to regain access to their encrypted data and systems. While neither UnitedHealth nor the hackers have commented on the alleged payment, a cryptocurrency tracing firm partially corroborated the claim. Large companies often pay ransomware gangs to recover their networks when significant disruptions occur. The break-in at UnitedHealth's Change Healthcare unit has caused widespread disruption in the US medical system, with billing services remaining paralyzed. The American Medical Association has called for emergency funds to be made available to affected physicians.

Mr. Sumit Arora, Director, Alniche Lifesciences: Driving Healthcare Evolution with Strategic Vision

VCCircleVCCircle · 1y ago
Mr. Sumit Arora, Director, Alniche Lifesciences: Driving Healthcare Evolution with Strategic Vision
Medial

Mr. Sumit Arora is the Director of Alniche Lifesciences, where he has played a pivotal role in driving the company's growth and expansion in the medical field. With a focus on Nephrology and Critical Care medicine, Alniche Lifesciences has become a leading player in these sectors in India. Mr. Arora's strategic vision has led to the introduction of new divisions, including Gastro, Neuro, and Cardio. He emphasizes the importance of a strong distribution network and personally manages distribution channels to ensure timely delivery of specialized products. Alniche Lifesciences aims to increase the availability of medicines globally, with a focus on Renal Care, Neuro, Cardio, and Critical Care segments. The company has also ventured into pharma manufacturing through EffiKasia Lifesciences. Mr. Arora prioritizes active participation in conferences to stay connected with doctors and keep abreast of scientific developments. The company's future plans include launching new divisions and expanding geographically. Mr. Arora has received recognition for his contributions to the healthcare industry.

PlasmaGen Biosciences raises Rs 150 Cr led by ViNS Bioproducts

EntrackrEntrackr · 6d ago
PlasmaGen Biosciences raises Rs 150 Cr led by ViNS Bioproducts
Medial

Snippets PlasmaGen Biosciences raises Rs 150 Cr led by ViNS Bioproducts Bengaluru-based biopharma company PlasmaGen Biosciences has raised Rs 150 crore led by ViNS Bioproducts along with participation from high-net-worth individuals, family offices, pharma entrepreneurs, and existing investors. The startup is backed by Eight Road Ventures secured the funding at a valuation of over Rs 1,500 crore. PlasmaGen has mopped up over Rs 600 crore in funding to date from Fidelity's FIL Capital Investments, Eight Roads Ventures, F-Prime Capital, and others. The proceeds will be used to scale international operations, expand the product portfolio, and strengthen manufacturing and leadership capabilities, PlasmaGen Biosciences said in a press release. Founded in 2010, PlasmaGen Biosciences focuses on producing and marketing plasma-derived therapies like Immunoglobulin, Albumin, and clotting factors to bridge India's demand-supply gap for these critical medicines, operating a modern fractionation plant in Kolar, Karnataka, and serving neurology, hematology, and critical care, aiming for self-reliance in plasma products. According to PlasmaGen, it has identified distribution partners in key export geographies and is in the process of securing regulatory approvals to begin international sales. India continues to remain a key market for the firm, which is expanding its services across hospitals and physicians through a cold-chain-backed distribution network. PlasmaGen says that it began commercial operations in 2024 at its plasma fractionation facility in Kolar, near Bengaluru. The company asserts that the setup is among only five such facilities in the country and claims that it is the first pure-play plasma biopharma player, has reported strong revenue growth since launch of operations at Kolar and is now preparing to enter overseas markets.

DailyRounds posts Rs 568 Cr revenue and Rs 320 Cr PAT in FY24

EntrackrEntrackr · 7m ago
DailyRounds posts Rs 568 Cr revenue and Rs 320 Cr PAT in FY24
Medial

Dailyround’s operation revenue grew to Rs 568 crore in the fiscal year ending March 2024 from Rs 515 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. Kunal Manchanada 12 May 2025 10:56 IST Updated On 12 May 2025 11:12 IST --- After recording a 42% year-on-year growth in FY23, healthcare-focused edtech platform DailyRounds experienced a moderate slowdown in FY24, with operating revenue increasing by just 10.3%. However, the Microsoft Ventures-backed firm’s profit surpassed Rs 300 crore in the same period. Dailyround’s operation revenue grew to Rs 568 crore in the fiscal year ending March 2024 from Rs 515 crore in FY23, its consolidated financial statements sourced from the Registrar of Companies show. DailyRounds’ flagship product, Marrow, is an online learning platform where medical students and practitioners can subscribe to various plans, including video lectures, question banks, and test series. These plans, ranging from 3 to 36 months, accounted for 93% of the operating revenue, which rose to Rs 528 crore in FY24. The remaining operating income came from book sales to students under specific plans and from market research services. The company also earned Rs 89 crore in non-operating income from interest on deposits and investments, taking its total revenue to Rs 657 crore in FY24. DailyRounds spent Rs 68 crore on employee benefits, making it the company’s largest cost center, followed by legal and professional services, which accounted for Rs 64 crore in FY24. Web hosting, payment gateways, advertising, business promotion, and other overheads pushed the total expenditure to Rs 225 crore in FY24 from Rs 187 crore in FY23. The year-on-year growth in scale, combined with controlled expenditure, helped DailyRounds post a 14% increase in profits to Rs 320 crore in FY24, compared to Rs 281 crore in FY23. Its ROCE and EBITDA margin stood at 34.39% and 67.73%, respectively, during the same fiscal year. At the unit level, it spent Rs 0.40 to earn a rupee of operating revenue. By the end of FY24, DailyRounds’ total current assets stood at Rs 778 crore, including cash and bank balances of Rs 712 crore. As we have said earlier, the biggest challenge in this domain is getting in, and accepted with institutions. Post that, incremental costs are low, helping push profitability, and margins higher. The business will continue to have the margins that allow DailyRounds to expand into more segments of the field, and evolve with the changing needs of the market. However, truly disruptive growth will probably not come from the Indian market but other markets, and it remains to be seen how DailyRounds plans for such growth. With a claimed presence in over 16 countries, the firm seems well aware of the opportunities ahead, and will continue to be watched for such a breakthrough sooner than later.

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