Sri Lanka’s Hemas invests in digital health start-ups

ECONOMYNEXT – Sri Lankan conglomerate Hemas Holdings is investing more money in technology start-ups as it seeks to grows its digital health business,

Hemas group chief executive Steven Enderby said the investments in digital health start-ups were one reason for reduced operating profits during the March 2018 financial year.

The Hemas group healthcare sector delivered strong financial performance during the year, he told  shareholders.

“However, profitability in pharmaceuticals remains challenging due to price regulation and devaluation of the rupee,” Enderby said.

Investing for a better future is a priority and Hemas has made significant investments and acquisitions, Enderby said.

“With a view to drive digital initiatives, including finding better ways to reach our customers through E-Commerce across our evolving healthcare businesses, we have made a number of investments in early stage technology businesses in the digital healthcare space.”

(COLOMBO, May 28, 2018)

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