The Indian medical devices market has traditionally been import-driven, despite the availability of inexpensive labour and local manufacturing advantages.

When Vishnu Bhat was working at IT major Infosys in the 1990s and listening to the likes of N R Narayana Murthy talk about building the future of the nation and what every individual could mean for it, Bhat came to the conclusion that if he had to make a contribution, it had to be in the sunrise medical devices sector. It was an underinvested, under-focussed and under-leveraged industry which never witnessed a boom like its ...