Medical Device Industry, especially Interventional Cardiology is still in its nascent stage in the country given that a country of 1.3 billion people sees only 4, 00, 000 PCI procedures a year compared to USA which does 1.2 million procedures for a population of 320 million. There is tremendous latent potential and with rising affluence, sedentary lifestyle, rise in metabolic diseases like diabetes – Cardiovascular disease burden will soon assume the proportion of an epidemic. The market is excepted to double in the next three years from the current half a billion dollars (Interventional Cardiology).
Keeping note of this is New Delhi based Innvolution Healthcare began its journey on December 2010 with a vision of being the only medical device focused on Interventional Cardiology in India. Founded by a group of Medical Device professionals holding leadership positions in some of the largest companies in the business, Innvolution is dedicated to provide the most up-to-date and best-in-class products to advance healthcare solutions and improve the quality of life.
Known as a well established supplier of Market leading Balloon Catheters and Drug Eluting Stents in the country, Innvolution in the past year has taken a major technological leap towards the ‘Make in India’ program and is all set to build one of Asia’s only Cardiac Catheterization Lab, in collaboration with VJ Technologies - one of the global leaders in Non Destructive X ray Testing, based out of New York. Cath Lab is very sophisticated, high-tech Imaging equipment. Throwing light on this, Gaurav Agarwal, CEO, Director, Innvolution Healthcare, speaks, “We aim to bring a world class Cath lab to the country that will enable greater penetration of angioplasty in the country, thereby reducing the large cardiovascular disease burden the country is currently faced with.We are also bringing some cutting edge technologies in Medical imaging such as Intravascular Ultrasound, FFR, LVAD and Cardiovascular Microfixation products”.
The Silver Lining
TeamInnvolution believes in watching over the future to bring futuristic, cutting edge medical device technology to the country. The company carves a niche for itself by delivering clinically differentiated products with the help of a clinically competent talent pool, seasoned professional management. “We are in an industry that has very short product lifecycles and the cost of technical failure is high as most medical devices need to undergo stringent quality testing followed by extensive animal and human research which is very expensive. We have collaborations with some of the best research institutions in the world such as IIT, Delhi to ensure that our products are among the safest and most effective to use. All large corporate hospitals such as Apollo, Fortis, Medanta, Max, AIIMS are using our products,” says Gaurav.
The Strength Behind
Innvolution takes immense pride in its competent team of 54 plus employees across functions that underline their success. That Innvolution is an employee centric organization is evident from the fact that they have a less than five percent annual attrition rate. “Over 60 percent of our workforce has been with us since the inception of the company. We adapt a very open, transparent and growth oriented culture where employees feel empowered and have a high sense of belonging,” he mentions. Innvolution is the only company in the industry that is working on a intranet based app which will enable employees to do a host of functions on a specially designed tab – another first in the industry. “We have been experiencing fairly rapid growth and have doubled our revenue in last 3 years. We have a clear roadmap to achieve a group turnover of 500 crores by 2023,” he concludes.
Innvolution has taken a major technological leap towards the ‘Make in India’ program and is all set to build one of Asia’s only Cardiac Catheterization Lab in collaboration with global leaders in development of X Ray based technologies