Claypond Capital, the family investment office of Dr. Ranjan Pai, has appointed Dr. Shravan Subramanyam to lead its medical technology platform.

He will oversee strategy and execution, with the platform focusing on developing medical equipment and digital solutions for both domestic and export markets, said the company in an official release.

Previously, Subramanyam served as the Managing Director of Wipro-GE Healthcare. He also held leadership roles as the president of NATHEALTH (Healthcare Federation of India) and co-chair of the Medical Technology committees for FICCI and CII.

Commenting on the appointment, Subramanyam said, “The next decade holds a lot of promise for medical innovation, and I look forward to working with med-tech companies through Claypond, to scale up their presence in South Asia and overseas.”

India’s medical devices market, valued at ₹1.2 lakh crore in FY24, is projected to grow at a compound annual growth rate (CAGR) of 11 per cent from FY24 to FY32. Currently, 80 per cent of medical devices are imported, presenting significant opportunities for import substitution.

Dr. Ranjan Pai added, “Healthcare delivery is undergoing profound changes in the post-COVID world, which requires long-term capital investment and collaboration between industry and academia. We believe our platform approach positions India to capitalise on the growth of the med-tech sector across regions.”

Factors driving market growth in MedTech include increasing insurance penetration, rising disposable income, the addition of new hospitals and laboratories, especially in tier-2 and tier-3 cities, a growing prevalence of chronic diseases, and government incentives.

Founded in 2023, Claypond Capital is a Family Investment Office within Manipal Education and Medical Group ecosystem.