Healthcare firm aims for Rs 50 crore business by 2020

The eight-year-old technologydriven start-up, headquartered in Chennai, with offices in and Pleasanton, USA and Singapore, has been backed by Sridhar Vembu, the founder of Zoho Corp, who has invested close to $10 mn in the company. 

Peri Kasthuri, the Co-founder and CEO of vTitan Corporation, says, “The seeds for the company were sown as the result of a conversation over coffee between Sridhar and I in 2009. We realised that there was certainly a need to be fulfilled in India, where close to 80 per cent of the medical devices are imported.” 

The Indian market for medical devices currently stands at $4.4 bn and the number is expected to jump to $7bn by 2020. Peri tells us, “Medical devices are going to be software-driven to a very large extent. 

A lot of these technologies will revolve around concepts such as IoT, AI and ML. Our objective behind getting into this industry was to make medical devices on the principles of availability, accessibility and affordability with respect to the Indian market.” 

The company has already supplied its devices to a few hospitals in Chennai as part of their trial run. The start-up aims to become a Rs 50 crore plus company by FY 2022 by developing a strong product portfolio and building the medical device ecosystem in India. Peri remarks, “There are close to 100 companies that are into the manufacturing of syringe infusion pump products. 

Currently, the Indian market for these products are valued at Rs 52 cr. The number could go up to Rs 74 cr by 2020. Through a three- phase expansion, the company will make its entry into markets like Africa and Eastern Europe.” 

Vembu says the user interfaces of the two new products were designed by Zoho, with an aim to make them more intuitive and user-friendly. vTitan will concentrate on the manufacturing of Syringe Infusion Pumps for now, and it will explore other areas of R&D and manufacturing in the years to come, sums up Peri.