Bangalore-based start-up, Cardiotrack, which provides best-in-class predictive diagnosis for cardiovascular diseases has expanded its presence to Gujarat. It has partnered with Star Hospitals, a multi-speciality hospital chain based in Ahmedabad to deliver real-time diagnostic solutions in Gujarat.
According to a Census India report, over 24% of deaths among men and 19% of deaths among women were due to cardiovascular diseases in Gujarat. More people die of heart diseases than respiratory diseases, tuberculosis, and cancer put together. In fact, Gujarat has a rich and developed urban culture because of the mercantile nature of its society. The people are prone to heart disease due to their affinity towards sweets and fried foods.
The partnership with Star Hospitals is an attempt to address the growing concern with regard to heart disease, and deliver cardiac solutions that are real-time and preventive in nature. Cardiotrack will be deployed across all Star Hospitals’ centres. Its hand-held IoT device, that is driven by Artificial Intelligence (AI), will capture clinical grade ECG data using cutting-edge technology and ensure data portability through smart android-based devices.
Speaking on the partnership, Dr Bhavesh Thakkar, Interventional Cardiologist, Star Hospital said,” Cardiotrack will put Star Hospital on the path to proactive preventive cardiac care. With the high number of cardiovascular cases in the country, India strongly needs preventive methods to save lives and families. With Cardiotrack, we are working towards creating a more heart healthy population in Gujarat.”
Ashim Roy, Co-Founder and CEO, Cardiotrack said, “Heart diseases continue to be one of the main causes of death, globally and across age groups. 50% of these deaths can be averted if the delay in seeking the right medical advice is reduced. The best way to achieve this is preventive care and early diagnosis.
We would provide accurate and timely diagnosis for all cardiac related issues. The testimony of our endeavour stems from the fact that Cardiotrack, today, is present across India with leading hospitals adopting our technology to address the challenges in cardiac care. The partnership with Star Hospitals, is a step towards making cardiac care accessible to a larger number of people and thereby, save lives, he added.
Headquartered in Singapore, Cardiotrack has a presence in over 15 countries including Myanmar, Mexico, Indonesia, Tanzania, Norway, Canada and Argentina among other countries. Their pocket sized device has been well received by hospitals and primary health centres in Tier 2 cities and rural areas.
Indian healthcare industry is marred by many factors such as affordability, awareness and availability, making health services accessible to very few. In such a scenario, technology is proving to be a great leveler.
Medical technology innovations are making modern health-care accessible, available and affordable to all by lowering the cost of the product and delivery. Though the market for medical technology in India is still quite small, many startups are leading by example. Here’s look at some of these med-tech startups that have changed the face of Indian healthcare industry and witnessing rapid growth expanding their footprint.
Bangalore-based Cardiotrack provides predictive diagnosis for cardiovascular diseases. Using Cardiotrack’s technology and AI platform, doctors can detect heart health problems accurately, consult specialists, refer and track patients, maintain medical history and start the intervention process.
The Cardiotrack device was launched in September 2015 and their devices have been deployed across India, Myanmar, Indonesia, Mexico and U.S.A. Major reason for getting traction in the market has been affordability, ease of use and mobility that the product renders to its users.
The startup has been expanding rapidly to address the growing concern with regard to heart disease, and deliver cardiac solutions that are real-time and preventive in nature. It recently partnered with Star Hospitals, a multi-speciality hospital chain based in Ahmedabad to deliver real-time diagnostic solutions in Gujarat. This expansion, makes Cardiotrack a Pan-India provider of AI-based cardiac care solutions.
Another med-tech startup that has created a customer base of one million customers in a short span of just over two years is e-pharmacy Medlife.
The largest online pharmacy in India is on an aggressive expansion strategy to scale up its business to over 100 cities by 2018. In line with this, Medlife also plans to invest $30 Mn over next 12 months to expand its presence in India.
“We plan to create a simple ecosystem for patients, which can solve most – if not all – their pain points that exist today. Our target is to grow by at least 10 times within the next three years. With certain exciting launches that we will be announcing soon, Medlife is poised to revolutionise India’s healthcare & pharmaceutical industry in the near future,” said Tushar Kumar, CEO, Medlife.
In 2014, Medlife started out with its e-pharmacy business and gradually diversified into 24X7 e-consultation and laboratory services. Today, it offers an array of app-based healthcare-related services across India. For customers who are not digitally savvy, the company also has the option of call-to- order services.
Founded in 2010 by a group of engineers with the goal to eradicate avoidable blindness, Forus Health has built an imaging platform called 3nethra, a portable device for screening common eye problems.
With the help of IoT, the startup conducts remote diagnosis. The images are screened in remote locations and doctors in towns and cities grade them and the patient gets the report back in their respective locations — all this happens over the Cloud.
Award recipients at Frost & Sullivan’s 2017 India Best Practices Awards Banquet
Frost & Sullivan concluded its 4th Annual 2017 India Best Practices Awards Banquet on October 5th at ITC Maratha, Mumbai. The Awards Banquet was preceded by Frost & Sullivan’s annual flagship event – Growth Innovation & Leadership (GIL) India 2017 Summit, where thought leaders and CXOs explored the roadmap to visionary innovation to build a digitally empowered nation.
This year 57 Awards were presented at the Banquet across industry sectors such as Electronics & Appliances, Energy & Environment, Digital Media, Industrial Automation & Process Control, Metals & Minerals, Mobility, Tech Vision, and Transformational Health.
The Awards Banquet hosted some of the top-notch names from across industries that showcased Best Practices and exemplary achievements of enterprises in their respective sector. This year’s awards highlighted potential leaders and disruptors, who have shown significant growth, have identified emerging trends and whose vision served as the catalyst in generating world-class performance within their industries.
Sharing his views on the 2017 Awards Program, Amol Kotwal, Director, Frost & Sullivan said, “It gives me great pleasure to recognize and host best-in-class achievers in India. Despite the economy facing headwinds, companies across industry sectors have grown through innovation and are transforming their business models to achieve industry-leading positions. Frost & Sullivan is proud to recognize their efforts for achieving excellence in their respective industries, and encourages them in their future endeavors.”
The Awards Assessment besides incorporating inputs from Frost & Sullivan’s expert analysts also involved a jury evaluation process with a panel of thought leaders, which included some of the most prominent names from the industry. The esteemed jury panel for the 2017 India Best Practices Awards Banquet included:
Amit Varma, President – Corporate Strategy, JK Organization
Asif Mulla, Head – Instrumentation, Mumbai Operating Center, TechnipFMC
Balachandran P Kamath, Independent Mining & Metals Professional
Balasubramanian Srinivasan, Executive Director – Mobility (Automotive & Transportation) Practice, Frost & Sullivan
Chandrashekhar Limaye, Director, Supertech Instrumentation Services (I) Pvt. Ltd.
Dr. Sandeep Garg, Chief General Manager, PEC Limited
Dr. Seshu Bhagavathula, Chief Technology Officer, Ashok Leyland Group
Dr. Sujit Chatterjee, Chief Executive Officer, Dr. L. H. Hiranandani Hospital
Dr. Tarang Gianchandani, Chief Executive Officer, Jaslok Hospital
GB Singh, Publisher & Editor, Security Today & Security Update
Harpreet Singh Tibb, Founder, Tibbs Consulting
Kirti Kumar Shah, Senior Manager, Engineering Management, Brownfield Projects, Aker Solutions
Mukund Muley, Managing Director, Cotmac Electronics Pvt. Ltd.
Nakul Subramanyam, Head of Corporate Real Estate Management, Morgan Stanley, India
Navratan Katariya, Solar Energy & Startup Consultant, Sy-energy Consultants
Prof. C Balasubramanya, Professor & Consultant, Smart Grids & Smart Meters
Rinka Banerjee, Founder & Director, Thinking Forks Consulting
Sandeep Puri, Sr. Vice President & Global Project Head, ACG Associated Capsules Pvt. Ltd.
Sanjeev Keskar, Managing Director, Arrow Electronics
Shamsher Sindhu, Executive Vice President & Head – Infrastructure Projects, Kotak Mahindra Bank
Sirish Batchu, Head – Advanced Electronics & Digitalization, Mahindra & Mahindra Limited
Vikas Rawat, Vice President – Operation, Nirlon Ltd.
Vinod Sharma, Managing Director, Deki Electronics
To participate in the 2018 Awards Program or for partnership opportunities, please contact: email@example.com or visit: www.frost.com/bpindiaawards. You can also get updates on Twitter and LinkedIn from the hashtag: #FSInAwards.
The event was supported by our Media Partners: Automation Connect, Channel Times, Commercial Vehicle, Convergence Plus, CXO Today, Mtlexs, Sustainability Next, Telecom Watch, The CEO Magazine and The Smart CEO.
Recipients of Frost & Sullivan’s 2017 India Best Practices Award
||India Flexible Packaging Technology Innovation Leadership Award
||UFLEX Limited – ASEPTO Spark
|India Intelligent Analytics Enabling Technology Leadership Award
|India School Automation New Product Innovation Leadership Award
||Inspace Technologies Private Limited
|India IoT Energy Monitoring New Product Innovation Leadership Award
||ALTIZON SYSTEMS PVT. LTD.
|India Drug Repurposing Technology Innovation Leadership Award
||NovaLead Pharma Pvt. Ltd.
|India Lightweight Panels New Product Innovation Leadership Award
|India Companies to Action Award for IoT Smart Cities Technology Market
||Gaia Smart Cities
|India Companies to Action Award for Connected Car Platform Market
|India Companies to Action Award for Remote Cardiac Monitoring Market
||Agatsa Software Pvt. Ltd.
||India OTT Video Services Market Company of the Year Award
||Hotstar (Novi Digital Entertainment Pvt. Ltd.)
|India Pay TV Content Protection Company of the Year Award
|India Companies to Action Award OTT Video Services Market
||YuppTV India Private Limited
|Energy & Environment
||India UPS Small Range Solutions [Less than 10kVA] Company of the Year Award
||Schneider Electric IT Business India Pvt. Ltd.
|India Emerging Energy Management Solutions Provider of the Year Award
||Schneider Electric India Pvt. Ltd.
|India UPS High Range Solutions [More than 10kVA] Company of the Year Award
||Vertiv Energy Private Limited
|India Building Management Systems (System Integration) Growth Excellence Leadership Award
||Secutech Automation (India) Pvt.Ltd.
|India Integrated Solid Waste Management Company of the Year Award
||Ramky Enviro Engineers Limited
|India Security Services Manned Guarding Growth Excellence Leadership Award
|Electronics & Appliances
||India LED Lighting Visionary Innovation Leadership Award
|India Consumer Electronics Company of the Year Award
||Panasonic India Pvt. Ltd.
|India Electronics Security Company of the Year Award
||CP PLUS India
|India Electronics Security Visionary Innovation Leadership Award
|India Electronics Security Competitive Strategy Innovation and Leadership Award
||Prama Hikvision India Pvt. Ltd.
|India Small and Kitchen Appliances Competitive Strategy Innovation and Leadership Award
||Hafele India Pvt. Ltd.
|India Consumer Electronics Services Visionary Innovation Leadership Award
|India Consumer Electronics Competitive Strategy Innovation and Leadership Award
||Canon India Pvt. Ltd.
|India LED Lighting Company of the Year Award
||Havells India Ltd.
|India LED Lighting Competitive Strategy Innovation and Leadership Award
||Anchor Electricals Pvt. Ltd.
||India Car Care Solutions Aftermarket Leadership Award
||3M India Limited
|India Freight Aggregation Competitive Strategy and Innovation Award
||SmartShift by Mahindra
|India Electric Mobility Technology Innovation Award
||Ampere Vehicles Private Limited
|India Private Bus Fleet Operator of the Year Award
||Parveen Travels Pvt. Ltd.
|India Shared Mobility Customer Value Leadership Award
||Ola (ANI Technologies Pvt. Ltd.)
|India Online Car Service Aggregation Customer Service Leadership Award
|India Automotive Supply Chain Excellence Award
|India Telematics Aftermarket Services Enabling Technology Leadership Award
||Arya Omnitalk Wireless Solutions Pvt. Ltd.
|India Passenger Car Tyres Aftermarket Price Performance Value Leadership Award
||India Emerging Insure-Tech Company of the Year Award
||Micro Insurance Services Private Limited
|India Integrated CMO & CDMO Company of the Year (Emerging Markets Category)
||Medreich Limited (a Meiji Group Company)
|India Emerging Digital Healthcare Service Provider of the Year Award
||Neurosynaptic Communications Pvt. Ltd.
|India Ayurveda Cardiac Service Provider Company of the Year Award
||Madhavbaug Cardiac Care Clinics & Hospitals
|India Emerging Primary Healthcare Service Provider of the Year Award
||Healthspring (Wellspring Healthcare Pvt. Ltd.)
|India Medical Technology Innovation Leadership Award
||SIRONIX (A Division of Healthium Medtech Private Ltd.)
|India Comprehensive Emergency Care Service Provider of the Year Award
||Apollo Hospitals, Chennai
|India Diabetes Management Service Provider of the Year Award
|India Clinical Research Company of the Year
||Veeda Clinical Research Pvt. Ltd.
|Indian Cardiac Diagnostic Solutions New Product Innovation Award
||Uber Diagnostics (Cardiotrack)
|Metals & Minerals
||India Ferrous Company of the Year Award
||Dynamatic Technologies Limited
|Industrial Automation &
|India IIOT Platform Enabling Technology Leadership Award
||Entrib Analytics Technology Pvt. Ltd.
|India Comprehensive IIOT solutions Enabling Technology Leadership Award
||CASCADEMIC Solutions Pvt. Ltd.
|India 3D Printers Technology Innovation Award
||Altem Technologies (P) Ltd.
|India High and premium efficiency electric motors Enabling Technology Leadership Award
|India Electric Motors Company of the Year Award
|Industrial IoT – Big Data Industry Growth Excellence Leadership Award
|India Positive Displacement Pumps Company of the Year Award
||SPX Flow Technology India Pvt. Ltd.
|India Building and HVAC Segment – LV Drives Enabling Technology Leadership Award
||Danfoss Industries Pvt. Ltd.
|India Electric Drives Competitive Strategy Innovation & Leadership Award
||YASKAWA India Private Limited
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
BENGALURU: In a 60-km radius of his clinic, Dr. Mahesh Gadiginmath, a physician at Budigere in Kundgol taluk of Dharwad district, does not have a single cardiologist to whom he can refer a patient. When 65-year-old farmer Hazarasab came to Dr. Mahesh with complaints of chest pain, an ECG indicated an inferior wall myocardial infarction. The quick diagnosis helped them rush him to KIMS hospital in Hubbali.
The ECG was done with Cardiotrack, a phone-sized device. Dr. Mahesh said, “There are no ECG machines here. Renting a vehicle to go to Hubbali with the patient costs `1,500. Now, I charge `250 per ECG. If I visit homes with the machine, I charge `300. It’s of great help in emergency situations.”
An ECG in a traditional hospital setup costs `500 for slum dwellers in Hubbali district’s Ganeshpet. This includes their transportation cost, outpatient treatment cost and medical consultation in the region’s only government tertiary care centre — KIMS. At a nominal cost of `250, and in a few minutes, doctors are now able to tell whether patients coming in with chest pain are suffering from acidity or heart ailments that requires urgent admission.
Created with inputs from researchers at St John’s Research Institute, Bengaluru, ECG data is captured on Cardiotrack using 12 leads and the results are displayed on the device screen along with the option to take printouts through Bluetooth connection. Cloud storage of the data makes it accessible for the user with the option of data being available for sharing with family members and specialists located elsewhere.
This data is also available for research-based analytics and can be deployed for targeted medical interventions.
Dr Chandrashekhar Patil, a physician in Hubballi, said, “I have been using the machine for the past 10 months in my clinic and have diagnosed 130-150 patients. Previously, we would refer them to facilities 8-10 km away. They would spend at least `100 on conveyance and also would lose time waiting for appointments or getting the reports. KIMS is the only government hospital with cardiologists here.” Cardiotrack is available on a subscription model and Patil spends `2,500 per month on renting the device.
Ashim Roy, CEO, Uber Diagnostics, which developed Cardiotrack, is based out of Diamond District in Domlur here.
“Our engagement in rural India forms 30 per cent of our sales. We’ve sold 30-32 units in rural areas of Hubbali, over 60 units to an NGO called Gramin Health in Delhi and to Medi360 that has deployed 20-25 units in rural Bihar and Rajasthan. We wanted to create a solution that will increase access to specialised diagnostic services in rural areas,” he said.
To provide next generation cardiac care
In an attempt to create an ecosystem which allows easy accessibility to timely diagnosis and to improve healthcare delivery, Cardiotrack, a Bengaluru-based health-tech start-up has announced its collaboration with Chennai-based iMMi Life.
As part of this partnership, iMMi Life will be deploying Cardiotrack at their centres. Cardiotrack’s hand-held IoT device, that is driven by Artificial Intelligence (AI), captures clinical grade ECG data using cutting-edge technology and ensures data portability through smart devices. Thereby, creating an ecosystem that provides effective and timely diagnostic solutions to people facing imminent heart problems.
iMMi life has a network of cardiologists who extend their expert guidance through a mobile app to hospitals on a 24×7 basis. The Cardiac Advisory service of iMMi Life enables prompt and reliable ECG interpretation during emergencies as well as for early detection of heart risk conditions. Hence, deployment of Cardiotrack’s easy-to-use, hand held ECG device at iMMi Life’s client hospitals will ease the process of acquiring ECG and obtaining a cardiologist’s opinion.
iMMi Life’s client Hospitals will record the ECG of their patients using Cardiotrack’s ECG device. This ECG gets uploaded into iMMi Life’s mobile-app based system and is sent to the network cardiologists, who report using easy-to-navigate screens on their phones. This opinion is promptly conveyed to the attending physician, and if opted, the general physician will be guided by a network cardiologist through telephone/ chat.
The first issue in healthcare sector in India is accessibility and affordability. Second is the uneven distribution of population across the country
With start-ups bringing innovation and new age solution in every sector of Indian economy, healthcare is a much more complex area to foray into. There are huge amount of complexities involved in the healthcare industry from a startup’s perspective as they deal with the most important aspect of life, i.e. the ‘Life’ itself.
BW Businessworld’s 4th Edition of Healthcare Summit & Awards 2017, brought together the industry experts to calibrate on the challenges the industry faces and the areas where startups could go wrong in the healthcare scenario.
Ashim Roy, Co-Founder and CEO, Cardiotrack begun by elaborating on the major challenges the industry faces.
“The first issue in healthcare sector in India is accessibility and affordability. Second is the uneven distribution of population across the country with 28 per cent population in rural area and 72 per cent residing in the urban areas. Reaching the majority population away from the urban centres is the biggest challenge while maintaining affordability and accessibility,” said Roy, mentioning how IT could be the best possible solution in bridging this gap.
“New technologies can solve major problems. Healthcare needs to be a mix of people and technology together alongside the facilitation of manufacturing capacity and certification and licensing. If the government can come forward as the first buyer of healthcare solutions, then healthcare start-ups can grow in a big way,” said Roy.
Sanjeev Malhotra, CEO Nasscom Centre of Excellence, IOT, spoke regarding the necessary environment needed to push the startups in the complex healthcare sector.
“Firstly there needs to be a recognition that start-ups are an important part of the ecosystem. We are the drivers of innovation that the healthcare sector needs, given the right environment ranging from development of product to certification and licensing. And lastly the right channel to make the product reach the customer and make it accessible,” said Malhotra.
Vivek Srivastava, CEO, Healthcare At Home India Pvt Ltd, termed the healthcare startup industry as a catalyst and its participation in the sector based on ‘Service Delivery Model’.
Touching upon the ugly side of startups going bust in the healthcare sector, Ananda Sen Gupta, Founder CEO, Track My Beat Healthcare Ltd articulated the need for a strong knowledge base, before taking a plunge in healthcare.
“One thing that is underestimated in healthcare start-ups is the time and gestation period required to develop a product. Healthcare sector is a much harder sector for start- ups to work in as it involves human lives, therefore, its impact is huge if you do the right thing. At the same time it is also ruthless if you get things wrong. Therefore, it takes a while for any start up in healthcare to establish itself and grow”, said Gupta mentioning how it takes five to six years for healthcare start-ups to establish themselves in comparison to two to three years in any other sector.
Similar were the sentiments echoed by VK Singh, MD, InnovatioCuris.
He further adds on to say that healthcare sector is much more complex and requires a huge amount of knowledge base which is one of the main reasons why start- ups go bust in healthcare. Startups need to understand from the patients’ perspective and the evolving technology before venturing in this field.