BUENA PARK, CA -TiE-SoCal held its monthly meeting on July 25, at The Yellow Chilli Restaurant here on the theme “Trends in Med Tech Industry”. Anshuman Sinha, Exec Director TiE-SoCal welcomed the guests. Brian Frankel, Marketing Director welcomed the panelists to stage. The panelists were Ajit Mishra, Sanjay Srivastava, and Santosh Kookal. Gunjan Bagla, Managing Director-Amritt, Inc. was the moderator.
Srivastava shared with the audience that the role of interventional medical devices is helping correct the human body plumbing. The investment in this sector is about 3% or approx. $100 billion of total medical industry wide investment. He emphasized one needs $1.5 million to start a company in this field. After the successful launch and development of a product or a medical device one can exit with $150-200 million. He also explained approx. 16 million people suffer strokes costing about $15 billion for medical care,whereas six million suffer from heart attacks costing around $20 billion.
Dr. Kookal talked about the role of software in treating Medical problems. He said many software applications can help diagnose most medical problems. Software can play a major role in future in helping medical practitioners in pinpointing health problems. Software can handle a lot of sampling data and analyze it for better solutions. He felt software development was going in the right direction.
Mishra added, medical devices can monitor from inside or outside of the human body. These devices can and are helping people live longer with diagnosis and cure at an early stage. It is better and cost effective to prevent a problem than to treat it after it occurs. The cost of treatment for a stroke or heart attack is much bigger than preventive treatment. Srivastava, while answering to a question regarding investment in startups and his success, said, “I do what I love to do and don’t do what I don’t like. I reinvent myself every six to eight years.” He stressed that one can’t be an entrepreneur if they don’t do what they love. Some companies are working on developing devices that will diagnose and predict in advance the potential medical problems such as a stool test kit by Navin Jain which can predict what kind of food a particular person’s gut needs to stay healthy.
To answer a question about investing in the healthcare industry, the panelists suggested that one should research, check the company’s profit and loss and how well they performing and how much promise they hold.
TiE-SoCal president Smita Bagla thanked the attendees and panelists for their participation.
The meeting was sponsored by Lotus Petal Foundation that helps poor children in India get a better education.
Dr. Kookal talked about the role of software in treating Medical problems. He said many software applications can help diagnose most medical problems. Software can play a major role in future in helping medical practitioners in pinpointing health problems. Software can handle a lot of sampling data and analyze it for better solutions. He felt software development was going in the right direction.
Mishra added, medical devices can monitor from inside or outside of the human body. These devices can and are helping people live longer with diagnosis and cure at an early stage. It is better and cost effective to prevent a problem than to treat it after it occurs. The cost of treatment for a stroke or heart attack is much bigger than preventive treatment. Srivastava, while answering to a question regarding investment in startups and his success, said, “I do what I love to do and don’t do what I don’t like. I reinvent myself every six to eight years.” He stressed that one can’t be an entrepreneur if they don’t do what they love. Some companies are working on developing devices that will diagnose and predict in advance the potential medical problems such as a stool test kit by Navin Jain which can predict what kind of food a particular person’s gut needs to stay healthy.
To answer a question about investing in the healthcare industry, the panelists suggested that one should research, check the company’s profit and loss and how well they performing and how much promise they hold.
TiE-SoCal president Smita Bagla thanked the attendees and panelists for their participation.
The meeting was sponsored by Lotus Petal Foundation that helps poor children in India get a better education.
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