Time Medical India - Reverse Merger Announcement

15 December 2023 -  Time Medical Holding is pleased to announce the successful reverse merger of its subsidiary company, Time Medical International Ventures (India), with Fischer Chemic Limited listed on the Bombay Stock Exchange (BSE), at a valuation north of US$100 mil.

The acquiring entity will be renamed to Time Medical Digital Health and Imaging Ventures Limited & start trading on BSE, one of the fastest growing stock exchanges.  At the time of the reverse merger, Time Medical Holding holds 51% shareholding, 25% shares was exchanged with Fischer Chemic Limited and remaining shares collectively invested/ funded by its Directors Mr Ravindran Govindan and Mr Shankar Varadharajan.

Time Medical Digital Health and Imaging Ventures Limited's manufacturing facility opened early this year in Andhra Pradesh MedTech Zone (AMTZ), Vishakhapatnam India to produce new generation Magnetic Resonance Imaging (MRI) system & provide a suite of innovative diagnostic imaging solutions to serve the fast growing India as well as global markets. The company will focus on offering comprehensive and dynamic diagnostics solutions including Health ATMs, HIS, EMR and Clinical Management systems using AI & Machine Learning to meet the current needs in the healthcare market.

“We are poised to enter the medical diagnostic imaging industry in this fast-growing and soon to be the largest market with a stronger foothold with this reverse merger, providing us the needed resources to fulfil an overwhelming strong order book in 2024. Our listed company will not just manufacture MRIs but also focus on expanding our healthcare software and solutions including for mental wellness, a multi-billion market. We have already made sales globally including the African and Middle East continent, and will continue to explore regions that are underserve with our innovative solutions at an affordable cost," said the Chairman & CEO of Time Medical Digital Health and Imaging Ventures Limited, Ravindran Govindan.