Medsynaptic: From Rs 1 lakh to Rs 50 crore!

Medsynaptic, a teleradiology company, was born in 2004 when two doctors decided to turn into entrepreneurs with an investment of just Rs 1 lakh (Rs 100,000).Their mission was to develop innovative and user-friendly products for the medical imaging industry. Today, the company’s value stands at Rs 40-50 crore (Rs 400-500 million) with revenues and profits growing at 100 per cent year-on-year.

Teleradiology is the transmission of C-rays, CTs, MRIs, etc from one place to another for interpretation or consultation.

Ashish Dhawad and Prashant Lahane wanted to offer the most advanced products at cost-effective prices, making such tools readily available to improve the healthcare systems across the world.

Six years down the line, the company has launched a range of cutting-edge IT products, including patented devices, to improve healthcare systems.

When Ashish dediced to take the plunge, healthcare informatics was not developed in India. “I believed this would be a great challenge as an entrepreneur to make Indian hospitals and doctors understand how informatics can improve their workflows, reduce costs and ultimately provide better patient care,” says Ashish Dhawad.

Medsynaptic’s teleradiology platform provides instant reports for emergency patients saving hundreds of lives every year.

“Today, multinational companies like GE Medical, Siemens, Fujifilm compete with us in the enterprise products but also partner with us in the standalone products,” says Ashish Dhawad.

Medsynaptic has been chosen as one of the top 10 Information Technology start-ups for 2010 at the Nasscom Emergout Conclave.

Ashish Dhawad shares experience of being entrepreneur and how his venture is making waves in the healthcare sector.

Click NEXT to read on…

Image: Medsynaptic team with Ashish Dhawad (third from the left).

Leave a reply