With its scalable model, tie-ups and funding, iGenetic Diagnostics hopes to make high-end molecular diagnostic technology affordable in India
In the popular American television medical drama House, the protagonist Dr Gregory House leads a team of diagnosticians, using logic and deductive reasoning to crack medical mysteries even as his team confirms his diagnoses through elaborate medical tests. Now, the infrastructure at the fictional Princeton-Plainsboro Teaching Hospital in New Jersey, where House practises, may support advanced diagnostics, but that’s still not the case in most hospitals in India. But a trio of former investment bankers-turned-entrepreneurs hopes to change this through their company, iGenetic Diagnostics.
iGenetic was founded in 2013 (though it launched operations only in 2015) by Arunima Patel (39), a former executive with private equity firm Actis, along with former Actis colleagues Siddharth Patodia (38) and Homer Paneri (41), who also invested in the company. iGenetic specialises in molecular diagnostics, which applies molecular biology to medical testing to provide quicker and more accurate results.
Patel is the managing director and focuses on organic growth; Paneri interfaces with pharmaceutical companies that can potentially use iGenetic’s services for drug research; and Patodia is in charge of mergers and acquisitions.
The company started with a seed capital of ₹10 crore and raised ₹9 crore from angel investors in 2015. It got its biggest round of funding in February when a health care-specific private equity fund constituted jointly by CDC Group and the Manipal Education and Medical Group (MEMG) invested around ₹130 crore with the option of investing more.
iGenetic’s services are focussed across three verticals—infections, infertility and oncology. Across these segments, the company offers specialised diagnostic facilities not easily available in other pathology labs.
Diese Geschichte stammt aus der October 13, 2017-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 13, 2017-Ausgabe von Forbes India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
