Cosmos Forums, a leading global knowledge company, had organised the Indian Health Summit at the JW Marriott, Mumbai on March 14th 2013
The event kicked off with the first panel moderated by Karthikeyan, Director, Private Equity Insights. Brig. Joe Curian, CEO, Seven Hills Hospitals stressed on the importance of financial planning and ensuring that business decisions are made on the basis of financial prudence rather than emotions. He also highlighted the importance of having the right metrics to measure costs and effectiveness of a
hospital. The panel discussed the importance of technology systems to capture and analyse information for better managerial decisions. Vikram Vuppala, Founder & CEO, Nephorplus drew on his personal experience of Nephroplus to highlight the importance of transparency especially with relation to pricing to build trust and connect with consumers. Vikram Mahajan, Director,Dolphi Techno Consultants emphasised the need for detailed planning at the drawing board level before the start of the project to minimise risk of cost and time overruns at the ution stage. Regulatory risks, bureaucracy and delayed approvals remain a significant cause of concern for the panelists, as it greatly hampers the growth and development of this sector.
The second panel discussion was focused on Building a successful healthcare business witness participation from imminent panelists. Dr Velumani, CEO, Thyrocare shared his entrepreneurial journey of building a company focused on thyroid care and how this focus has helped him build a sustainable PAN-India organisation. Sanjeev Vashishta, CEO, SRL diagnostics offered his insights on following an inorganic strategy for growth.
He also shared his views on the differences between the approach and growth strategy of SRL as compared to Thyrocare. Vishal Gandhi, Founder, Gandhi & Associates stressed on the importance of proper documentation and processes from an initial stage of the companys life so as to enable a smooth transition to faster growth. Overall, the panel agreed that the chances of success for a healthcare entrepreneur have increased significantly over the past decade and things will improve as we move ahead.
The post-lunch panel dealt with the increasing utilisation of technology in the Indian healthcare sector and how technology investments will help organization to scale-up and become successful in the longer run. The panel comprised of Madhubala Radhakrishnan, Founder & MD, Mcura Inc; Arvind Kumar, Founder & CEO, Attune Technologies and Dr BK Murali, MD, Hope hospitals. The panelists agreed that technology adoption is no longer a choice but a necessity for healthcare companies which are looking to grow in the Indian marketplace.
The last panel witnessed focus on Capital raising for healthcare companies “ working with PE/VC funds. The panelists agreed that PE/VC capital is an excellent option for promoters looking at rapid growth but one should understand the long term implications of bringing in a financial partner.
The Indian Health Summit was a great platform for CXOs and promoters from the healthcare industry to participate, network and learn from each other. The summit was well organised by Cosmos Forums and was supported by PE Insights as Private Equity Partner, Attune Technologies as the Technology Partner, Mcura as the Platinum Partner and BioRx advisors as the investment banking partner.
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