Bengaluru: Claypond Capital, the family investment office of Dr. Ranjan Pai, has announced the appointment of Dr. Shravan Subramanyam as the head of its medical technology platform. Aimed at revolutionizing the med-tech landscape, the platform will focus on medical equipment and digital solutions tailored for both domestic and export markets, with a strong emphasis on localization and innovation.
Dr. Subramanyam, a distinguished physician from Madras Medical College and an MHA graduate from Cornell University, brings over 20 years of leadership experience in life sciences and medical devices with global companies like Roche, Novartis, and Wipro-GE Healthcare. He has also served as President of NATHEALTH and co-chaired Medical Technology initiatives for FICCI and CII.
“The next decade holds a lot of promise for medical innovation and integration of various technologies, particularly digital solutions. I look forward to working closely with med-tech companies on behalf of Claypond, to scale up their presence in South Asia and overseas,” said Dr. Subramanyam.
Dr. Ranjan Pai emphasized the transformative potential of the med-tech sector, saying, “Healthcare delivery is changing profoundly in the post-Covid world, and medical technology has a big role to play in making healthcare accessible and affordable. Innovation will require long-term capital and collaboration between industry and academia. We believe the platform approach will address the opportunity for India to participate in the growth of the med-tech sector across regions.”
India’s medical devices market, valued at INR 1.2 lakh crore in FY24, is projected to grow at an 11% CAGR through FY32. With 80% of products currently imported, the opportunity for import substitution is significant across multiple segments. Growth drivers include rising insurance penetration, increasing disposable income, expansion of healthcare infrastructure in Tier 2 and Tier 3 cities, a surge in chronic diseases, and supportive government policies.
This strategic initiative under Claypond Capital is expected to play a crucial role in addressing these market opportunities and positioning India as a hub for med-tech innovation.
