Claypond Capital, the family investment office of Dr. Ranjan Pai, has appointed Dr Shravan Subramanyam, former Managing Director of Wipro-GE Healthcare, as the head of its medical technology platform. The initiative aims to drive innovation and localisation in medical equipment and digital healthcare solutions for both domestic and international markets.
A physician by training from Madras Medical College with a Master’s in Healthcare Administration from Cornell University, Dr Subramanyam brings over two decades of experience in life sciences and medical devices. He has held leadership roles at global companies like Roche and Novartis and served as the president of NATHEALTH (Healthcare Federation of India) and co-chair of Medical Technology for FICCI and CII.
Expressing enthusiasm for his new role, Dr Subramanyam said, “The next decade holds immense potential for medical innovation and the integration of digital technologies. I look forward to collaborating with med-tech companies under Claypond’s platform to scale their presence across South Asia and global markets.”
Dr. Ranjan Pai emphasised the evolving healthcare landscape in a post-COVID world, highlighting the transformative role of medical technology. “Innovation in healthcare requires long-term capital and collaboration between industry and academia. Our platform approach is designed to position India as a key player in the global med-tech sector,” he stated.
India’s medical devices market, currently valued at Rs 1.2 lakh crore in FY24, is projected to grow at an 11 per cent CAGR between FY24 and FY32. With 80 per cent of products being imported, there is significant scope for import substitution. Growth drivers include rising insurance penetration, increasing disposable incomes, expansion of healthcare facilities in Tier 2 and Tier 3 cities, and government initiatives to boost domestic manufacturing.
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