Claypond Capital, the family investment office of Ranjan Pai, chairman of Manipal Group, has appointed Shravan Subramanyam, the former Managing Director of Wipro-GE Healthcare, to lead its medical technology initiative, as announced by the company.
Subramanyam, a graduate of Madras Medical College, also holds a Master of Healthcare Administration from Cornell University. He comes with 20 years of comprehensive experience in the life sciences and medical device sectors, having held positions at Roche and Novartis across multiple regions.
Subramanyam’s Vision
“The next decade presents significant opportunities for medical innovation and the integration of various technologies, particularly digital solutions. I am enthusiastic about partnering with med-tech companies on behalf of Claypond to broaden their reach in South Asia and globally,” Subramanyam expressed.
His previous positions include serving as President of NATHEALTH (the Healthcare Federation of India) and co-chair of Medical Technology at both FICCI and CII.
Transforming Healthcare Delivery
“The delivery of healthcare is experiencing profound transformation following the Covid pandemic, with medical technology playing a vital role in enhancing accessibility and affordability. Achieving meaningful innovation will require sustained investment and collaboration between the industry and academic institutions. We believe our platform approach is critical in positioning India to participate in the growth of the med-tech sector across various regions,” Pai noted.
As per the statement, the medical devices market in India was valued at Rs 1.2 lakh crore for the financial year 2023-24 and is anticipated to grow at a compound annual growth rate (CAGR) of 11 per cent from 2024 to 2032.