VCCircle Healthcare Awards 2013, along with VCCircle Healthcare Investment Summit 2013, which was held on September 26 at ITC Maratha, Mumbai, shaped into a grand event, bringing together more than 350 CEOs representing India's top and emerging healthcare companies as well as institutional and private equity investors betting on the sector.
Keeping with its commitment, VCCircle Healthcare Awards 2013 recognised and awarded medical professionals who have not only scaled in terms of clinical and financial performance but also played a big role in making a real difference in patients’ lives and adopting leading innovative healthcare practices.
The jury for the awards comprised Rajen Padukone, MD & CEO of Manipal Health Enterprises; Hari Buganna, MD InvAscent India; and Ratan Jalan, founder and principal consultant of Medium.
Nominations were collected from our readers for each category, in addition to data taken from VCCedge on sizable companies and were sent to the jury for review. Our jury suggested various parameters through which each category nomination can be evaluated. Taking into consideration the database, jury handpicked two-four nominations under each category and at last picked the best company that qualified when compared with other companies in the same category.
Here are the six categories and the respective winners of VCCircle Healthcare Awards 2013.
Best Multi Specialty Tertiary Hospital - Medanta The Medicity
Nominations for Best Multi Specialty Tertiary Hospital category included: Medanta -The Medicity, Max Super Specialty, Apollo Hospitals and MedicaSynergie
Selection was based on EBIDTA and revenue growth for the year 2012-2013, return on capital employed, quality of infrastructure and equipment used and fast scaling in terms of number of patients treated in cardiac, neuro and neonate categories.
Medanta was selected based on the revenue growth and business set up done over a very short period of time. The company has acquired fast scale to deliver the number of patients it serves on a yearly basis, pegged at around 90,200 for cardiac care and 38,000 for neurosciences.
Most Innovative Single Specialty Healthcare Entity - HealthCare Global Enterprises Ltd.
Nominations for Most Innovative Single Specialty Healthcare Entity category included: Dr Mohan Diabetes Specialities Centre, Ganga Hospital and HealthCare Global Enterprises Ltd.
Selection was based on innovations, awards recognised from respected bodies coupled with EBITDA and revenue growth for the year (2012-13)
HCG has scaled fast to create a professional company focused on the oncology segment. It has to its credit Asia’s first bloodless bone marrow transplant and was first in India to introduce biological reconstruction to treat bone cancer with a great track record of innovations.
Most Indigenous Equipment/Devices Company - Sutures India Pvt Ltd
Nominations for Most Indigenous Equipment/Devices included: Transasia Bio-Medicals Ltd, Sutures India Pvt Ltd, Trivitron Healthcare Pvt. Ltd and Perfint Healthcare Pvt Ltd
Selection criteria for Equipment/Devices category were successful introductions in the market, replacements for imported products and market share.
Sutures India was selected given its penetration in a segment which was dominated by international products, at a much discounted price. It manufactures absorbable and non-absorbable sutures besides surgical meshes, surgical gloves, surgical paper tapes and two-way Foley catheters. The firm also provides advice on regulatory or biocompatibility issues. Besides, it has the largest capacity in India to manufacture about 20 million sterile sutures per annum at its facility located in Bangalore.
Best Diagnostic Service Company - Dr Lal Path Labs
Nominations for Best Diagnostic Service Company included: Dr Lal Path Labs, Medall Healthcare Pvt. Ltd and Thyrocare Technologies Ltd
Selection criteria for diagnostic category were allied with the reach and the market penetration of the company across the country, also considering revenue growth and EBIDTA for the year (2012-2013)
Dr Lal Path Labs has been able to create a brand with scale in a fragmented market. Dr Lal Path Labs is present in 800 cities with 2,000 collections centres, and caters to around 10 million patients a year.
Emerging Healthcare Retail Company - Nationwide Primary Healthcare Services Pvt. Ltd
Nominations for Emerging Healthcare Retail Company included: Apollo Health & Lifestyle and Nationwide Primary Healthcare Services Pvt. Ltd
Selection criteria for this category covered presence in primary care segment, along with the presence in preventive health area, together with revenue growth and EBIDTA for the year (2012-2013).
Nationwide Primary Healthcare was selected despite being in the early stages of development, for innovation in business model. At the core of its primary care services lie physicians who provide consulting and allied health services to individuals, families and corporates in the local community. Headquartered in Bangalore, the chain has grown from one clinic in Indira Nagar, Bangalore to 21 clinics across Bangalore and Gurgaon in less than two years of full-scale operations.
Most Promising Healthcare Startup - AyurVAID Hospitals
Nominations for Most Promising Healthcare Startup included: AyurVAID Hospitals, Embrace and Glocal Healthcare.
Selection criteria for this category focused on the company’s potential to bring remarkable impact in the healthcare sector, and how it has impacted the industry so far.
In the case of AyurVAID, the firm was picked as the most promising healthcare startup as it has brought Ayurveda into the mainstream. AyurVAID has a patient base of near 35,000 across its centres and has treated approximately 8,000 patients. It has three hospitals—two in Bangalore and one in Cochin.