Telangana Govt & WEF Partners to Set World’s 1st Healthcare Hub ‘C4IR’ in Hyderabad

This is expected to become the world's first healthcare hub, generating jobs and fostering government-SME collaboration.

The World Economic Forum has joined hands with the Telangana government to set up its Centre for Fourth Industrial Revolution (C4IR) in the State capital.

The Centre is expected to become the world’s first healthcare hub, generating jobs and fostering collaboration between the government and small-to-medium enterprises.

Sharing thoughts, CM A Revanth Reddy, said, “The initiative aligns seamlessly with the broader vision of the Telangana government and goals of the World Economic Forum, emphasising collaboration to improve people’s lives through enhanced lifestyles and improved quality of living standards.”

Further, the new Centre will be focusing on leveraging technology to enhance the State’s healthcare. The C4IR is scheduled to be launched on February 28th as part of the BioAsia-2024 conference.

Transforming Telangana into a Healthtech Hub

CM A Revanth Reddy and WEF president Borge Brende inked a joint statement in this direction during the ongoing WEF-2024 in Davos in Switzerland.

The CM highlighted that the vision of the WEF aligns with the Telangana government’s focus on the healthcare and life sciences sector and hence, effective cooperation between the two could be forged.

He further noted that deliberations are underway to redefine healthcare services on a global scale and the state government is gearing up to take the top-notch healthcare services to small towns and villages.

The minister continued to add that the WEF is working on a global scale, and the cooperation between the two will help expeditiously reach the targets set for healthcare services in the State.

IT and Industries Minister D Sridhar Babu, accompanying the CM in Davos, highlighted the government’s efforts to transform Telangana into a global health tech hub, extending services to rural areas. The government, according to him, has set foot to transform Telangana into a health tech hub and make it a global destination in healthcare services.

On the collaboration, Dr Shyam Bishen, head, World Economic Forum Centre for Health and Healthcare, said, “The WEF, confident in achieving the digital healthcare transformation goal, anticipates enhanced service delivery to patients and technological innovations in healthcare. We are satisfied with Telangana’s commitment to supporting the WEF’s global impact.”

What C4IR will Offer

The Centre’s primary focus includes playing a pivotal role in designing the state health tech landscape, with the overarching goal of enhancing healthcare within the state.

Furthermore, the agreement aims to harness the latest technological advancements in the life sciences sector, making strides in genomics and personalised medicine.

As the first healthcare and life sciences Fourth Industrial Revolution centre in the region, it is anticipated to expedite the development and adoption of advanced technologies.

Moreover, the Centre's scope extends to healthcare manufacturing, contributing to the overall advancement of the sector. Additionally, it is expected to play a crucial role in transforming healthcare on regional, national, and global scales, improving patient access, and outcomes, and creating job opportunities in the healthcare industry

In a recently held event, President Droupadi Murmu said India is becoming an international healthcare hub by providing world-class health services at relatively low cost. The President also reflected on the several changes that the healthcare field is witnessing due to the integration of life sciences and modern technology.

Days back, US-based healthcare technology provider MedExpert, announced that it is setting up its first Global Capability Center (GCC) in Chennai, India. This strategic move to foray its operations in India sought to bolster emergency medical billing solutions across Southern India, by establishing a robust presence in Chennai. Further, this move aims to assist to develop and strengthen the company's revenue cycle management workflow platform for healthcare providers.