Fischer Medical Ventures and The Therapy Platform partner for mental healthcare

Fischer Medical Ventures and The Therapy Platform partner for mental healthcare

Fischer MVL envisages to offer a diverse portfolio of diagnostic solutions

  • By IPP Bureau | June 15, 2024

Fischer Medical Ventures (Fisher MVL) through its Wholly Owned Subsidiary Time Medical International Ventures (India) have united in an exclusive & global partnership with The Therapy Platform to revolutionize mental healthcare with advanced technology and inventive solutions. 

Fischer MVL has emerged as a leading entity in the Indian market, specializing in the production of cost-efficient, high- quality Magnetic Resonance Imaging (MRI) systems, making them the first company to indigenously manufacture such advanced medical imaging equipment in India. 

Aside from medical imaging, Fischer MVL envisages to offer a diverse portfolio of diagnostic solutions, of which mental health space is considered an important business focus. Several platforms in this space are being evaluated currently and Fischer MVL is pleased to announce the exclusive partnership with The Therapy Platform PTE. Ltd. to market them globally. 

The Therapy Platform is a mental health technology company committed to enhance the quality of psychological counselling services, aiming to alleviate users' psychological distress, reduce mental healthcare costs, and mitigate socio-economic burdens.   

According to report published by the World Health Organization in March 2023, an estimated 3.8% of the global population experience depression, showing a dire need for effective psychological treatments which include behavioural activation, cognitive behavioural therapy, interpersonal psychotherapy, and problem-solving therapy etc. 

Sarah Poh, Founder of The Therapy Platform PTE. Ltd. shared her perspective on the partnership, stating, "A significant global population grappled with mental disorders, yet only estimated 10-12% sought assistance largely due to stigma, lack of awareness, and limited access to professional help. Our AI chatbots enables users to access mental health support discreetly and affordably on our platform, with those requiring additional assistance being connected with a professional. We aim to enhance treatment efficacy monitoring, lessening the burden on professionals and caregivers while empowering users. Our collaboration with Fischer MVL certainly signifies a significant step forward in our expansion globally to make mental healthcare more accessible and effective for individuals.” 

Commenting on the partnership, Ravindran Govindan, Chairman & Managing Director of Fischer MVL stated, "Our alliance with The Therapy Platform underscores our commitment to invest in mental healthcare solutions. We consider this sector as essential healthcare yet heavily under-served and intend to take global leadership in this space. By harnessing the power of AI and cutting-edge technology, we aim to offer comprehensive diagnostic and monitoring solutions that can empower healthcare providers and patients to take control of their mental health journey while reducing the burden on the caregivers and society."

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