Jacksonville, FL , May 25, 2021 (GLOBE NEWSWIRE) -- Lytus Technologies Holdings PTV. LTD. (“Lytus,” or the “Company”), a technology platform services company that offers content streaming/telecasting and telemedicine services with active users and business operations in the United States and India, introduces Lytus Telemedicine, a robust platform of telemedicine/telehealth services that’s one of the premier platforms to actively serve the U.S. and India markets.
Lytus Telemedicine is a unique patient-centric program in the marketplace that provides health care practitioners the opportunity to deliver, and patients to receive, unequalled health care services in full compliance of all regulations and conditions prevalent in today’s current regulatory ecosystems. Lytus will deploy digital communication technologies using medical devices, video capabilities and data collection methodologies within the Lytus Telemedicine platform. Lytus has engaged leading global suppliers of telemedicine equipment and remote patient management devices and has entered into long-term privileged supply arrangements to support both the U.S. and India markets with such suppliers.
In October 2020, Lytus acquired a majority stake in Global Health Sciences, Inc. (“GHSI”), an innovator of telemedicine services that aims to provide management and technology solutions to hospital networks, university medical schools, physician networks and individual practices in the U.S. GHSI is led by CEO and founder of GHSI, James Tuchi, an industry veteran with experience in rolling out telemedicine services in the United States and other parts of the world. GHSI’s proprietary delivery platform uses digital communication technologies using medical monitoring devices, video capabilities and data capture methodologies. The GHSI platform also uses AI ecosystem assets including conversational computing, Intelligent Robotic Process Automation (iRPA), and Machine Learning (ML). This platform is currently rolled out in New Jersey, Illinois, Florida and Texas with approximately 125 medical physician practices using the system for approximately 3,000 eligible patients via hospital and clinic networks.
Lytus’ telemedicine business in India is led by Dr. Sanjeiiv Geeta Chaudhry, a health industry veteran with vast experience of leading large companies and driving innovation and growth. In India, Lytus’ telemedicine business has commenced repurposing its existing local cable operator network infrastructure to set up Local Health Centers/diagnostic centers (LHC). There is scheduled to be one dedicated LHC for every 5,000 customers and this LHC will be staffed with trained healthcare professionals. We believe LHCs will support customers with additional patient services that cannot be remotely provided through device telemedicine services. Typical services provided at the LHCs will include ECGs, EKGs, blood and urine testing, ultrasound scans, and other health vitals. The LHC network will act as an important link between patients, doctors and supporting hospital partners for better integration. The Company also intends to leverage the LHC network for pharmaceutical delivery. The beta testing of services in India has brought out the unique advantage of 24/7 company-employed physicians handling inbound health calls to be able to provide prompt resolution of health needs of the callers, while at the back end, the national call center has access to specialist services for diagnosis and fulfilment of prescriptions.
Mr. Dharmesh Pandya, Lytus’ founder and CEO, commented: “Amid the current global pandemic, Lytus has worked diligently in both the U.S. and India to help meet the needs of patients by bringing them closer to their physicians to receive the care they need in the safest and most efficient manner possible. The current and dire COVID-19 situation in India has highlighted the importance and need for telemedicine services for patients. The demand for this type of virtual medical diagnosis and treatment is growing rapidly in India. Clearly, we do not believe this is a fad – telemedicine and telehealth bring an abundance of efficiencies to clinical care, and is here to stay. In fact, India’s Prime Minister stated recently that telemedicine service needs be expanded in the country’s rural areas because it has played such an important and beneficial role for patients in home isolation. Virtually all the restrictions that have heretofore impeded the growth of the telemedicine industry in delivering healthcare have been removed by almost all governmental regulatory bodies around the world. We also believe that it is very clear there will be substantial changes in the provisioning and delivery of health care in our target markets for telemedicine services. This has led to a more favorable environment for Lytus to leverage the breakthrough technological applications available to us. We intend to be well positioned to take advantage of these opportunities quickly, through the assistance of our business partners and our network of technology vendors with whom we have built long-term working relationships.”
1https://www.livemint.com/news/india/telemedicine-service-needs-to-be-expanded-to-rural-areas-modi-11621264535346.html
About Lytus Technologies Holdings Private Limited
Lytus Technologies Holdings PTV. LTD. (“Lytus”) is a growing platform services company primarily providing content streaming/telecasting services with over eight (8) million active users1 located all across India. Our scope of business also covers telemedicine services with local assistance through local health centers. Through our platform, our customers are connected via customer premises equipment (“CPE”) devices/set top boxes (“STBs”) and have access to multi-dimensional services including telemedicine service.
Our customer base and expansive market presence position us to widen our portfolio of offerings. We have been focused on adopting and implementing technologies that can change the landscape of being a conventional streaming services provider.
With our acquisition of a majority stake of Global Health Sciences, Inc. (“GHSI”), we intend to benefit from India’s e-commerce boom and the recent telemedicine guidelines. The management of GHSI has many years of pioneering experience in telemedicine in the USA, which we believe will help us create a profitable and sustainable business model with rapid growth prospects. We believe that our deep understanding and local expertise have enabled us to create solutions that address the needs and preferences of our consumers in the most comprehensive and efficient way. We believe our management possesses extensive local knowledge of the markets in which we operate, which we consider to be a key component of our success.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Lytus Technologies Holdings Private Limited, and members of its management as well as the assumptions on which such statements are based. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company’s website at www.lytuscorp.com
1 Calculation based upon approximately 1.8 million paid home subscribers, which based on industry standards translates to more than 8 million viewers on an average of 4.6 viewers per household in India. Source: United Nations, Department of Economic and Social Affairs, Population Division (2019) — Database on Household Size and Composition 2019. Available: https://population.un.org/Household/index.html#/countries/356