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Claypond Capital, the family investment office of Manipal Group chairman Ranjan Pai, has roped in former Managing Director of Wipro-GE Healthcare Shravan Subramanyam to lead its medical technology platform, the firm said in a statement.

Subramanyam is a physician from Madras Medical College with an MHA from Cornell University, with 20 years of experience in life sciences and medical devices companies including Roche and Novartis, across geographies.

“The next decade holds a lot of promise for medical innovation and integration of various technologies, particularly digital solutions. I look forward to working closely with med-tech companies on behalf of Claypond, to scale up their presence in South Asia and overseas,” Subramanyam said.

He has also served as the president of NATHEALTH (Healthcare Federation of India) and co-chair of Medical Technology for FICCI and CII.

“Healthcare delivery is changing profoundly in the post-Covid world, and medical technology has a big role to play in making healthcare accessible and affordable. Innovation will require long term capital and collaboration between industry and academia. We believe the platform approach will address the opportunity for India to participate in the growth of the med-tech sector across regions,” Pai said.

India’s medical devices market was valued at Rs 1.2 lakh crore in 2023-24 and is projected to grow at an 11 per cent CAGR from the financial year 2024-32, the statement said.