Fischer Medical & Therapy Platform ink pact revolutionize mental healthcare sector globally

Fischer Medical Ventures, formerly Fischer Chemic Limited, has partnered with The Therapy Platform to revolutionize mental healthcare with advanced technology. Based in Chennai, Fischer Medical leads the Indian market in producing cost-effective, high-quality MRI systems. Through its subsidiary, Time Medical International Ventures (India), it is the first to manufacture such advanced medical imaging equipment domestically. Fischer Medical also aims to diversify its diagnostic solutions, focusing significantly on mental health.

The Therapy Platform Pte., a mental health technology company, seeks to improve psychological counseling services, alleviate distress, reduce healthcare costs, and mitigate socio-economic burdens. They offer online and offline counseling and psychotherapy, primarily in Southeast Asia, leveraging artificial intelligence to enhance service effectiveness and efficiency.

A March 2023 WHO report indicates that 3.8% of the global population experiences depression, underscoring the need for effective psychological treatments. The mental health market, valued at $399.7 billion in 2023, is expected to grow to $530.5 billion by 2032.