Indian Medical Technology & Diagnostic Market need Innovations, access,availability and affordability. Indian Challenge is the penetration to the untapped & unorganised rural market : Dr G.S.K. Velu
Indian Medical Technology & Diagnostic Market need Innovations, access,availability and affordability. Indian Challenge is the penetration to the untapped & unorganised rural market : Dr G.S.K. Velu
Eminent Medical Technologist & Visionary Dr G.S.K. Velu of Trivitron Group receives rare recognition at Pharmaleaders 2013 Meet
Thursday, January 9th , 2014,Mumbai,Maharashtra,India. Innovations are required in Smaller towns,cities, rural areas – largely untapped – disruptive, frugal innovations to improve access, availability, and affordability of Healthcare to address enormous Challenges in India.While Challenges exists in all four critical sectors such as pharmaceuticals, healthcare services medical education & medical technology, Medical Technology remains the most neglected segment in India said Dr G.S.K. Velu,Founder Chairman of Trivitron Group Companies at the historic 6th Annual Annual Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2013 held at Mumbai on 27th December .The 6th Annual Pharmaceutical Leadership & Pharmaleaders Business Leadership Awards 2013 ( www.pharmaleaders2013.com ) organized by illustrious Network 7 Media Group’s Pharmaleaderstv, Asia’s most analytical news media in healthcare communications ( www.pharmaleader.tv ) under the theme “Incredible Pharmaleaders 2013, Billion Dreams – Pushing India’s Growth Agenda” was successfully organized at Mumbai on 26th December 2013 with several leading national & global brands in pharmaceuticals & healthcare were felicitated & recognized for their outstanding contribution to the healthcare industry & medical profession by the eminent jury members of Network 7 Media Group. More than 300 professionals of the healthcare industry & medical experts attended to the historic global platform.
Taking the exceptional & remarkable progress by the young & dynamic visionary chairman of Dr G.S.K. Velu of Trivitron Group of Companies initiatives & foray in medical technology & diagnostic industry, the jury member of the Network 7 Media Group & Pharmaleaders comprising of eminent personalities in public life, the consensus reached at honoring Dr G.S.K. Velu for his pioneering work in original innovation & taking the brand india’s image to the global platform. While the coveted “Entrepreneur of the year 2013 Award” was conferred to Dr. G.S.K. Velu for achieving rare success at the younger age in providing exceptional directions to the group companies leading from the front, Dr Velu’s pet outfit Medfort Maxivision Hospitals was declared winner in the coveted “Emerging Hospital Group 2013” category. Mayank Gandhi, Member National Executive, Aam Admi Party accompanied by the Editor-In-Chief of the Pharmaleaders Satya Brahma conferred the prestigious & coveted recognition to the first generation entrepreneur.
In a release to media, Dr G.S.K. Velu of Trivitron Group of Companies said “Trivitron Group is well-set to triple its manufacturing business across different geographies within next 4 years & growing focus on innovation that helps build range of products at affordable price. India can be a Global Med Tech Hub like Pharma with the right Eco System. Single Speciality Healthcare Services have a unique relevance owing to economies of scale and out-of-hospital convenience. Innovations in these areas will help achieve Health Security for All by 2020. I am humbled by this rare & prestigious recognition & I accept this honour on behalf of 1000 employees”.
In the key note address to the healthcare experts, policy makers & medical professionals & academician who were present at the 6th Annual Pharmaceutical Leadership Summit & Pharmaleaders Business Leadership Awards 2013 in the evening session, visionary Dr G S K Velu flabbergasted the delegates on the much awaited talk on Innovation and Advancements in Medical Devices and Single Specialty Healthcare Services – An India Perspective as he emphasized that the Indian Medical technology, expertise and quality healthcare is set to grow phenomenally in next 5 years ahead of Japan & United States.
Creating the Largest Medical Technology company of Indian Origin, Dr Velu stressed that the Indian Medical Technology Market is presently at approx. USD 5 Billion contributes to less than 2% of Global Market CAGR 4.4% & 60 % Revenue in Top 4 Medical Technology Segments coming from Medical Imaging, In Vitro Diagnostics, In Vitro Cardiology Diagnostics& Gastroenterology. Innovations are required in all four segments of Healthcare to address enormous Challenges in India & while challenges exists in all four sectors, Medical Technology remains the most neglected segment in India.The Market Size of the Indian medical technology from 325 Billion USD in 2012 is expected to cross the Market Size 448 Billion USD in 2017. India is uniquely placed as it has huge market with increasing middle class population & growing private hospital sector providing improved accessibility, Increased Government Spending Planned by State and Central Government, Overseas companies investing in India to set up R & D units, Increasing Joint ventures and agreements, Overseas aid assisted projects to improve healthcare infrastructure, Regulations to improve market for domestic manufacturers, India can be a Global Med Tech Hub like Pharma with the right Eco System,Single Speciality Healthcare Services having a unique relevance owing to economies of scale and out-of-hospital convenience & only Innovations in these areas will help achieve Health Security for All by 2020. However India’s growth trajectory can lose its gear due to Low per capita expenditure,Developing government policies and infrastructure,Large population having low affordability,Lack of indigenous manufacturing,Academic know-how is not well developed in this sector,Support system for R & D not available Regulatory policies may slow down the development of the market,Unorganized market for medical disposables,Lack of regulations, specifications – leading to spurious products,Implementation Western Regulatory systems blindly may slow down access and affordability in rural areas
To the credit of Dr Velu, the notable achievement includes Process 100 Million tests a year, Caters to more than 10,000 laboratories, hospitals & nursing homes,Assists 20,000 consultants,Market Leader in South and West India,Over 85 state-of-art-laboratories 1400 Collection Centers across India, Middle East & Africa,Direct Laboratory Presence in over 15 countries in South Asia, Middle East and Africa,NABL and,or CAP Accreditation for all Central Lab facilities,Technology leader encompassing all IVD technologies with over 4000 variety of investigations,India’s Most Reputed Multinational Chain of Diagnostic center with direct laboratory presence in over 15 Countries,Strategic Minority Private Equity Investment by Warbug Pincus Capital,Best Diagnostics Service Provider in India in 2009 – Frost & Sullivan. As a Pioneers in Eye Care Technology who introduced LASIK SURGERY IN INDIA in 1996, A Medfort Initiative, National chain of Eye care and Diabetic Daycare Hospitals,15 State of the Art Eye Hospitals in 5 Cities operational . Plans 20 cities presence by 2015 ,State-of-the-art facilities for Diagnostics, Treatment, Surgery and MR, Victus Femtosecond Laser Cataract Technology –A 100% Hands Free, Blade-Free Technology, 1,80,000 Ocular Surgeries performed so far, 24,00,000 patients screened and treated so far & US-FD, CE approved Technologies
A first generation entrepreneur of over 25 years of experience in healthcare segment, who changed the way the medical technology and diagnostics industry works today, bringing them within the reach of medical practitioners across India, Dr Velu,Founder and Managing Director, Trivitron Group of Companies (the largest medical technology company of Indian origin) & Co Founder and Vice Chairman, Metropolis Healthcare(one of the largest diagnostic laboratory chains in Asia),Founder and Chairman, MedfortHospitals( a network of diabetes care and vision care hospitals),Founder and Director, Alliance Medicorp (Chain of dialysis and dental care) did his education in Bachelor’s degree in Pharmacy from the Birla Institute of Technology and Science (BITS), Pilani, MBA from Loyola Institute of Business Administration and a Doctorate from IBAM, Kolkata he worked with different global organizations gaining experience in medical technology. In 1997, Trivitron was founded by Dr.Velu and tied up with several world leaders in medical technology to cater to over 20 medical specialties across India. He also established the Trivitron Medical Technology Park, South Asia’s first state-of-the-art medical technology manufacturing facility and the Trivitron Innovation Center, a center of excellence for biomedical research & development and design at IIT Madras.
A visionary, Dr. Velu changed the diagnostics field from a highly fragmented industry that served as purely backhand function, into one that plays a leading role in healthcare today. His efforts united leading diagnostics laboratories across the country under the Metropolis banner to set the highest standards of service.His latest venture Medfort is a chain of single specialty ambulatory care hospitals across the country that will soon link some of the nation’s best doctors and technicians with cutting edge technology and international accreditation ensuring that patients get the very best care while continually setting the bar higher in terms of consistent healthcare delivery.
About Dr G S K Velu’s Trivitron Group Companies
ü Largest Medical Technology Company of Indian Origin
ü A multi-modality product company offering products/ solutions / services that are affordable and accessible by the entire population class
ü 8manufacturing facilities that are GLP, GMP certified and spread across Chennai, Mumbai, Pune and Finland, marking our local and international presence
ü Deployment of state-of-the-art concepts like lean manufacturing, frugal engineering to reduce overall manufacturing costs helping us retain a competitive edge.
ü Products manufactured through synergies with local and global manufacturers are sold to the local markets and exported to over 165 countries.
ü 5 innovation centres in partnership with India’s leading technical and medical education institutes backed with state-of-the-art technologies
ü 20 % of the revenues invested in R&D to bring forward products that are of low cost, functionally better and technologically superior
ü 12 Warehouses ensuring finest inventory management through processes that prescribe to automation across the entire value chain
ü 25 offices
ü 1000 employees
ü 160 countries
ü 12 warehouses
ü 8 manufacturing facilities
ü 5 innovation centres
ü 1,200 channel partners
ü 35,000+ installations
