HLL Lifecare Limited
TypeState-owned enterprise
IndustryHealthcare
Founded1966 (1966)
HeadquartersThiruvananthapuram, Kerala, India
Key people
K. B. George
(Chairman & Managing director)
Products
RevenueIncreaseINR 1059 crores
(FY 2014-2015 provisional)
₹42 crores provisional
Websitewww.lifecarehll.com

HLL Lifecare Limited (formerly Hindustan Latex Limited) (HLL) is an Indian healthcare product manufacturing company based in Thiruvananthapuram, Kerala, India.[1] A Government of India-owned corporation (Public-sector undertaking).

Products

It produces health care products, including: condoms, contraceptive pills, IUDs, surgical sutures, blood bags and Pharma products. One of HLL's contraceptive products is ormeloxifene, branded as Saheli, the world’s first and only oral non-hormonal, non-steroidal oral contraceptive, taken as a weekly pill.[2] In 2012, HLL announced a polymerase chain reaction based duplex test kit for chikungunya and dengue fever tests in collaboration with the Rajiv Gandhi Centre for Biotechnology, Trivandrum.[3] In December 2015, they have tied up with the Government of India in setting up Amrit pharmacies across India for providing cheaper medicines for Cancer and Cardiovascular disorders. The name Amrit stands for Affordable Medicines and Reliable Implants for Treatment.[4]

History

In 2005, HLL established LifeSpring Hospitals, a 50-50 joint venture with the Acumen Fund, a U.S.-based nonprofit global venture philanthropy fund, to provide low-cost maternity services, starting at Hyderabad. Today it has nine hospitals across Andhra Pradesh state.[5][6][7][8]

In February 2014, HLL acquired 74% Equity in Goa Antibiotics and Pharmaceuticals Ltd.[9]

HLL has its head office in Thiruvananthapuram and factories in 7 locations across India. Four of the factories were built in Kerala, such as Peroorkada, Aakkulam, Kakkanad and Irapuram. The rest 3 factories are in Belgaum, Manesar, and Indore.[10]

HLL currently has 220 pathology labs, 47 imaging centres and 6 labs under the brand name Hindlabs. It runs a total of 253 pharmacies across India. HLL runs a subsidiary with the name of HLL Infra Tech Services Ltd. In 2020-21 the company reported a turnover of ₹5,081 crore.[11]

In 2022 due to growing cases of stroke, the cabinet gave permission to have a collaboration with HLL Lifecare to build a hub and spoke model at various primary health centres (PHCs) for the required treatment.[12]

HLL Divestment Bid

On 8 January 2018, the Government of India approved the privatisation of HLL Lifecare.[13] But the Ministry of Health and Family Welfare and the Government of Kerala has opposed the Union Government's plan for disinvestment of HLL Lifecare Limited.[14][15] In 2021, the Central Government eventually finalized its plans to divest its whole stake in the company which will make it a private company. The Finance Ministry’s Department of Investment and Public Asset Management (DIPAM) on November 14, 2021 revealed a large portion of the company's business comes from central government projects.[16]

See also

References

  1. ↑ "HLL Lifecare - Home". www.lifecarehll.com. Retrieved 22 February 2019.
  2. ↑ Hindustan Latex is world's largest condom producer Financial Express, 24 November 2007.
  3. ↑ "HLL Lifecare to launch chikungunya, dengue diagonstic kits". The Times Of India. 8 August 2012.
  4. ↑ "Govt opens AMRIT pharmacy at AIIMS to sell cancer drugs at 60-90 per cent discount". International Business Times. 16 November 2015. Retrieved 24 April 2018.
  5. ↑ "LifeSpring Hospitals". Acumen Fund website. Archived from the original on 22 December 2010.
  6. ↑ "Current Investors". LifeSpring website. Archived from the original on 21 July 2011.
  7. ↑ "How services firms in India are using disruptive innovation". Mint. 3 February 2011.
  8. ↑ "HLL Case Study" (PDF). siteresources.worldbank.
  9. ↑ "HLL Lifecare acquires 74% Stake in Goa Antibiotics Ltd". IANS. news.biharprabha.com. Retrieved 25 February 2014.
  10. ↑ "Hindustan Newsprint in kitty, govt now eyes HLL Lifecare units in Kerala". The New Indian Express. Retrieved 16 January 2022.
  11. ↑ "HLL disinvestment to exclude its biggest land asset". www.fortuneindia.com. 11 December 2021. Retrieved 16 January 2022.
  12. ↑ "Govt to tie up with agency for stroke-related cases | Goa News - Times of India". The Times of India. 8 January 2022. Retrieved 16 January 2022.
  13. ↑ "Government begins process to sell stake in three firms". The New Indian Express. Retrieved 23 March 2021.
  14. ↑ "Health ministry opposes govt plan to privatise HLL". The Indian Express. 31 July 2017. Retrieved 22 February 2019.
  15. ↑ "Kerala wants Centre to drop HLL Life Care privatisation". Deccan Chronicle. 20 March 2018. Retrieved 22 February 2019.
  16. ↑ "HLL disinvestment: Biggest strength is its weakness". www.fortuneindia.com. 3 December 2021. Retrieved 16 January 2022.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.