The EMI program is available in 60 hospitals in 18 cities and applies to a handful of medical devices, including stents, pacemakers and insulin pumps.
The Minnesota medical device giant teamed up with a local credit firm to offer personal loans for medical treatments with the approved devices, with loans carrying an interest rate of about 10%, the India Times reported.
Patients must undergo an application process, which involves an earning family member undergoing a test to evaluate "sincerity and willingness to pay back on time," according to the report.
Medical device India head Milind Shah told reporters that around 200 EMI programs had closed successfully so far.
Cardiologist performs emergency in-flight EKG with iPhone
Cardiologist and prominent wireless health advocate Dr. Eric Topol puts his advocacy in action by successfully diagnosing a heart attack on a patient who was suffering chest pains during a flight from Washington, D.C., to San Diego.
Neurostim implants help paralyzed men move legs for 1st time in 3 years
Oregon man Rob Summers was left paralyzed from the neck down after a hit-and-run accident damaged his spinal cord, but experimental implants that stimulate his nerves have helped him move his legs and even stand for the 1st time since the accident.