Mumbai: LG Electronics India has signed an agreement with leading health portal galaxyofhealth.com to sell a specific range of products on the latter's "health e-shop". The new health e-shop would sell all products "related to medicine, health and fitness including books, fitness equipment and non-prescription medicines".Galaxyofhealth.com is the brainchild of Dr Vikram Sharma (a medical practitioner by profession) in alliance with renowned Website development and software solutions company, "Just a Company", of Canada.
Galaxy Communications CEO Dr Vikram Sharma, told The Financial Express in a faxed response, "LG Electronics has signed an agreement to place advertisements for their healthy range of consumer electronics on the portal. They (LG India) also have an agreement to sell the same range of consumer electronics on the health e-shop coming up on Galaxyofhealth, which makes for the second revenue stream". The nitty gritties on the earnings stream could, however, not be got.
Sharma indicated that the portal was banking on multiple revenue streams, the first and foremost being advertising and sponsorships on the site.
"Based on the visitor profile and the focused nature of the visitors, it makes an excellent platform for companies looking at a high visibility in both India and overseas. So far, some of the leading PSUs that have advertised on the portal are New India Assurance and Oriental Insurance, both of which had a tremendous inquiry response to their banners," he added.
However,the biggest revenue stream, he said, would come from sales of a pocketable patient information device, capable of holding a patient's medical records and confidential information.
The device, Sharma says, is the first of its kind in the world and has been jointly developed by the Canadian arm of Galaxyofhealth and an American company for global distribution.
Galaxyofhealth, which was born in 1998, is the longest running health portal in India and claims to offer the highest degree of interactivity between doctors and patients. The site provides free online medical consultation and even does its bit on free medical and surgical treatment for the needy. Galaxyofhealth, which received over 2.5 million hits in May 2000 alone and reached breakeven in January 2000, boasts of popular sections like home remedies, teen health etc.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.