By: IPP Bureau
Last updated : September 19, 2026 8:05 am
The company broadens focus to AI-enabled diagnostics, molecular testing, digital healthcare and technology-led rehabilitation as it expands into Southeast Asia
Fischer Medical Ventures Limited (FMVL) is expanding its healthcare technology portfolio across radiology, preventive care and wellness, with a growing focus on integrated medical imaging, AI-enabled screening and diagnostics, digital healthcare, molecular testing and technology-led rehabilitation and wellness.
Radiology remains FMVL’s founding and largest business segment, with a portfolio spanning MRI, CT, X-ray and digital mammography, alongside screening and interventional radiology solutions.
The company’s technology platform has roots in more than 15 years of university research and includes open and closed MRI systems, helium-free and zero-boil-off technologies, CT platforms, digital radiography and intraoperative imaging solutions.
Its imaging portfolio includes the AURIX 0.35T open MRI, AURA 0.7T open MRI, MICA/MICA Smart and QUIN 1.5T MRI systems, NEONA neonatal MRI, CLARION CT systems, Navigator digital mammography and X-ray systems, as well as next-generation MRI platforms under development. FMVL also offers the Medharanya Suite for intraoperative MRI and an intraoperative CT platform for real-time surgical guidance.
Expanding geographical footprint
FMVL has established commercial deployments in Indonesia and the Philippines, marking progress in its regional expansion strategy.
In Indonesia, the company entered the market in October 2024 with its 4T4TB — Trace, Test, Treat, Track solution, integrating portable digital X-ray systems, AI-assisted image analysis and the FMV Prime qPCR molecular testing platform for tuberculosis screening and diagnosis. FMVL has described the engagement as its first significant commercial presence outside India.
In the Philippines, FMVL subsidiary Time Medical Philippines Inc. installed its first open and locally funded MRI system at Bulacan Medical Centre in Bulacan Province. Inaugurated in November 2025, the installation uses the PICA Open MRI system, incorporating open architecture, a helium-free permanent magnet design and teleradiology capabilities.
FMVL is developing its Preventive Healthcare business through FlynnCare, a wholly owned subsidiary focused on AI-enabled screening, diagnostics and connected healthcare.
FlynnCare’s portfolio includes Clinics 2.0, MIDAS and LIVE Dx, integrated through its ATLAS healthcare analytics platform. Its eHAP devices, including Health Lounge and Health ATM 2.0, combine screening capabilities across eye health, oral health, breast and cervical cancer risk, cardiovascular and pulmonary screening, diabetes-related risks, women’s wellness, and mental and occupational wellness.
The LIVE Dx platform combines connected healthcare devices, AI-enabled analysis, remote monitoring and tele-health capabilities. It is designed to support screening and care delivery across community, institutional, workplace and household settings, with referral pathways to higher levels of care.
FlynnCare has also developed disease-management programmes including 4T4TB for tuberculosis and SHIELD for cancer screening, linking screening and diagnostics with treatment pathways and longer-term monitoring.
According to FMVL, FMV Prime can support tuberculosis and rifampicin-resistance testing from a tongue swab in a single run in under two hours, with a broader menu extending to more than 200 infectious diseases.
Its portable laboratory portfolio also includes an AI-powered immunofluorescence analyser and Mini CubeLab, a robotic platform combining haematology, clinical chemistry, immunofluorescence and cell imaging.
Aiming high
In August, FMVL’s promoter converted warrants and subscribed to a preferential allotment involving approximately Rs. 36.8 crore of promoter investment, taking promoter holding from 62.15% to 63.09%, according to shareholder communication.
The company has also stated that its November 2026 half-year results will be accompanied by an investor call, with quarterly calls planned thereafter. FMVL intends to issue a short shareholder letter alongside each quarter’s results covering commitments, delivery and areas where expectations were not met.
Reflecting on the company’s evolution, R. Govindan, Executive Chairman and Managing Director, Fischer Medical Ventures Limited said, “Fifteen years ago we set out to build advanced medical imaging in a country that had never made it, for the countries that cannot afford to import it. We did that, and we are now doing it in five countries at once.”
He added that FMVL's proposition extends beyond medical imaging hardware, with its systems integrating software, artificial intelligence, cloud-based radiology, screening capabilities and digital-health connectivity.
ME