Dr Shravan Subramanyam appointed to lead medical technology platform at Claypond Capital

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. The platform will focus on medical equipment and digital solutions for domestic and international markets, with an emphasis on localisation and innovation.

Dr Subramanyam is a physician from Madras Medical College and holds a Master’s in Healthcare Administration from Cornell University. He has two decades of experience in the life sciences and medical devices sectors, having worked with organisations such as Roche and Novartis across multiple geographies. Dr Subramanyam has also served as the president of NATHEALTH (Healthcare Federation of India) and co-chaired the Medical Technology Committees of FICCI and CII.

Speaking about his new role, Dr Subramanyam said, “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.”

Dr Ranjan Pai emphasised the evolving nature of healthcare delivery in a post-COVID-19 world. He stated, “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 was valued at INR 1.2 lakh crore in FY24 and is projected to grow at a compound annual growth rate of 11 per cent from FY24 to FY32. Currently, 80 per cent of medical devices are imported, presenting a significant opportunity for import substitution across various segments.

Factors such as increasing insurance penetration, rising disposable incomes, the addition of hospitals and diagnostic labs in Tier 2 and Tier 3 cities, the growing prevalence of chronic diseases, and government incentives are expected to drive the market’s growth.

By leveraging the platform approach, Claypond Capital aims to address these opportunities and contribute to the development of the med-tech sector in India and beyond.