Mayo Clinic, the US-headquartered, not-for-profit global healthcare major has selected AIG Hospitals as its partner to extend expertise in the fields of medical research, education and training to help patients in the country.
A formal partnership was announced by D Nageshwar Reddy, Chairman & Managing Director of the Asian Institute of Gastroenterology (AIG) Hospitals and David Hayes, Medical Director, Mayo Clinic Care Network in Hyderabad today. There will be no investment from Mayo Clinic, the Rochester, Minnesota-based company in the tie-up, they said.
As a member of the global Mayo Clinic Network, AIG will get access to a range of medical practices, including eConsult, eBoards, AskMayoExpert, latest innovation and research and education, said Reddy.
Mayo Clinic reported revenues of $12.6 billion in 2018, with experience in integrated multi-speciality group practise, serving 1.3 million patients annually.
“The annual budget of Mayo Clinic is about Rs 84,000 cr, while India’a healthcare budget at present is around Rs 62,000 crore,” Reddy told BusinessLine , giving an idea of the strengths and reach of Mayo Clinic.
AIG Hospitals has 30 years of experience in gastroenterology and has set up a 950-bed, multi-speciality hospital in Cyberabad at an investment of over Rs 1,000 crore. The collaborations with Mayo Clinic in research, education and medical practices will be a major benefit to patients across the country, he said.
David Hayes said Mayo Clinic believes in partnerships to leverage the potential of emerging areas such as genomics, tapping big data, artificial intelligence, personalised medicine, stem cells, etc. “It does not have any plans of setting up standalone hospitals in India in the near future”, he clarified.
India offers tremendous scope for leveraging talent, patient diversity, providing low-cost and high quality medical care and application of the benefits of new technologies. The tie-up with AIG is a first step towards contributing in that direction, he added.