Under its new arm, PSI India will introduce a range of new, fast moving consumer health products through chemists, and pharmaceutical segment through providers
US-based global non-profit health organisation, Population Services International (PSI) , renowned for its innovative work in improving the health of people in 50+ countries (known in India for its products like Pearl – Oral Contraceptive Pills, Freedom 5 – Intrauterine contraceptive device and masti-condoms), announced the launch of a for-profit business designed to complement its ongoing non-profit work.
In a move to financially strengthen business operations amid a changing funding landscape for non-government organisations, the enterprise will operate as a separate commercial entity that will manage the procurement, distribution and marketing of PSI’s healthcare portfolio which will include provision of contraceptives priced competitively to increase the basket of choices women have for family planning products and towards strengthening its work to improve child survival through ORS and Zinc supplements.
Ambassador Karl Hofmann, Chief Executive Officer and President, PSI comments, “India is changing, demographically and economically. While healthcare services have been made far more affordable and accessible to people in rural areas in the last 10 years, gaps and challenges in the infrastructure, service delivery, still persist. In its pursuit of equitable economic development, India’s vision of achieving the recently announced Sustainable Development Goals (SDGs) is full of opportunity for entrepreneurs. This makes India the most promising for social enterprises which are innovative, risk averse and are driven by long term commitment to the under served,” Hofmann added.
Under its new arm, PSI India will introduce a range of new, fast moving consumer health products through chemists, and pharmaceutical segment through providers. “In the last 28 years, PSI India has worked closely with the national and state governments, renowned partner organisations and private firms to make healthcare products and services more accessible and affordable to vulnerable populations. The development marks the journey of new possibilities for NGOs in India to bring shared value and impact in social development through innovation and entrepreneurship,” commented Shankar Narayanan, Managing Director, PSI India.
“PSI has always been a non-government organisation with a business approach and uncompromising focus on measurable health impact. Our objective is to deliver significant health impact through growing markets (for family planning and other categories) – achieved through a sustainable business model that generates positive financial returns,” added Pritpal Marjara, Managing Director, PSI India.
EP News Bureau