Claypond Capital Appoints Shravan Subramanyam to Lead Medical Technology Platform for Growth

Claypond Capital, the investment arm of Manipal Group's chairman Ranjan Pai, has appointed Shravan Subramanyam to lead its medical technology platform. Subramanyam, a former Managing Director at Wipro-GE Healthcare, brings extensive experience in life sciences and medical devices. He is a physician from Madras Medical College and holds an MHA from Cornell University.

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Subramanyam has accumulated 20 years of experience working with companies like Roche and Novartis across various regions. He expressed enthusiasm for collaborating with med-tech firms to expand their reach in South Asia and beyond. "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," he stated.

Medical Technology's Role in Healthcare

In the evolving post-Covid landscape, healthcare delivery is undergoing significant changes. Medical technology is pivotal in making healthcare both accessible and affordable. Subramanyam has also held leadership roles as the president of NATHEALTH Healthcare Federation of India and co-chair of Medical Technology for FICCI and CII.

Ranjan Pai highlighted the importance of innovation in healthcare, which requires sustained investment and collaboration between industry and academia. "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," Pai noted.

Growth Prospects for India's Med-Tech Sector

The Indian medical devices market was valued at Rs 1.2 lakh crore for 2023-24. It is anticipated to grow at an 11% compound annual growth rate (CAGR) from 2024 to 2032. This growth presents significant opportunities for India to engage more deeply with the med-tech sector globally.

The potential for medical innovation over the next ten years is substantial, especially with digital solutions playing a key role. The platform approach adopted by Claypond Capital aims to leverage these opportunities effectively.

The strategic appointment of Subramanyam underscores Claypond Capital's commitment to advancing medical technology in India and internationally. His expertise is expected to drive significant progress in scaling up med-tech initiatives.