Fischer Medical partners with Indonesia's PT Pariko to support TB eradication; Stock rises

Shares of Fischer Medical Ventures Ltd.

's (FMV) gained as much as 5% on Monday, December 1, after it announced that its subsidiary has partnered with the Indonesian administration, in collaboration with PT Pariko, to support tuberculosis eradication, using portable, AI-powered X-ray systems.

Time Medical International Ventures (India) Private Limited, a wholly-owned subsidiary of Fischer Medical signed a $6.5 million contract with PT Pharmindo Rimpang Kokoh (“PT Pariko”) to supply 250 units of portable, AI-powered X-ray systems to the city of Jember in Indonesia.

This deal will position "FMV as a strategic partner in Indonesia’s public healthcare initiatives," the MedTech company said.

In an exchange filing, the company said the contract with the international entity in Indonesia, is for a pilot phase, which is expected to be executed and delivered in tranches by March 2026.

Fischer Medical Ventures had reported a net profit of ₹84 lakh in the September quarter, compared to a net loss that it reported during the same quarter last year. Revenue for the quarter had increased by 64% on a year-on-year basis.

Shares of Fischer Medical Ventures are trading 3% higher on Monday at ₹49.55. The stock has risen in five out of the last six sessions. The stock has declined 36% so far in 2025.