The success of Arokiaswamy Velumani’s Thyrocare

Will a startup like PharmEasy be able to do justice to Velumani’s successful venture Thyrocare?

Arokiaswamy Velumani’s story will undoubtedly inspire you to believe in the power of hard work and toil. Born into a family of a landless farmer in 1959, Velumani spent his childhood in a village on the outskirts of Coimbatore, Tamil Nadu. He was one of four sons to his parents.

He completed his BSc from the University of Madras at the tender age of 19. His first job was at a pharmaceutical company name Gemini Capsules. Here he worked on Rs 150 per month for four years before quitting it and joining Bhabha Atomic Research Center in Mumbai.  

Later he decided to pursue his PhD in thyroid biochemistry. His learning from this helped him to open with a mere investment of Rs 2 lakh, the world’s largest diagnostic centre worth Rs 7,000 crore - Thyrocare. Today Thyrocare is synonyms with good diagnosis and affordability.

But during the initial years, Thyrocare focused on detecting only thyroid, It later ventured into the diagnosis of STDs, diabetes, infertility and cardiovascular diseases. It is currently spread across India, Bangladesh, Nepal and Middle East making it the largest diagnostic venture.

The company had only three funding rounds. In 2011, the company was estimated to value at Rs 650 crore. After an IPO, Tyrocare was oversubscribed seventy-three times, making its vale Rs 3415 crore. When Thyrocare made its debut in the Indian Stock Market, its value was Rs 3377 crores. 

This June, Velumani in a surprising decision decided to sell his listed company to a startup. PharmEasy acquired Velumani’s 66% stake in Thyrocare for Rs 4546 crore. Velumani used Rs 1500 crore and bought a 4.9% stake in PharmEasy’s parent company API, thus pushing PharmEasy’s valuation from $1.8 billion to $4 billion. 

Will a startup like PharmEasy be able to do justice to Velumani’s successful venture Thyrocare?

Tags : #ArokiaswamyVelumani #Thyrocare #PharmEasy #corporateupdate #smitakumar #medicircle

Related Stories

Loading Please wait...

-Advertisements-




Trending Now

Odisha’s Bold Healthcare Vision: A Rs 12,000 Crore Blueprint for Universal Health AccessFebruary 21, 2025
Young India’s Health Crisis: Why Insurance Claims Are Rising Among 25-35 Year OldsFebruary 21, 2025
India vs. Trump’s Pharma Tariff: The Battle Over Affordable MedicineFebruary 21, 2025
Foreign Medical Aspirants in Trouble: NMC’s Warning on Pending Eligibility CertificatesFebruary 21, 2025
Think Your Work Music Helps You Focus? Science Says Think AgainFebruary 21, 2025
Is Your Home’s Air Poisoning You? Shocking New Study Reveals Hidden Indoor Pollution RisksFebruary 20, 2025
The Society of Automotive Engineers & B V Raju Institution of Technology; to host the globally prestigious E-BAJA 2025; at Hyderabad!February 20, 2025
Eat right for your heart to beat rightFebruary 19, 2025
Aakash Healthcare and Medtronic Inaugurate North India’s First Dedicated Vein ClinicFebruary 19, 2025
Urgent and accelerated HIV service delivery with equity and rights is critical to end AIDSFebruary 19, 2025
Fasting Fad or Future Health Threat? Why Teens Should Think Twice Before Intermittent Fasting February 19, 2025
Public Hospitals Go High-Tech: AIIMS Delhi Leads India’s Robotic Surgery WaveFebruary 19, 2025
Screen Time and Healthy Habits: Navigating Optimal Development in ChildrenFebruary 18, 2025
SRM Global Hospitals Launches WOW, a Centre Exclusively for Women’s Health and WellnessFebruary 18, 2025
The Hidden Dangers of Scented Candles: Aesthetic Bliss or Silent Health Hazard?February 18, 2025
The University of Leeds and Sri Balaji Vidyapeeth Host 3rd International Health and Research Convention to Advance Global Healthcare and Medical ResearchFebruary 17, 2025
When ‘You Don’t Look Sick’ Becomes a Death Sentence for Chronic Illness PatientsFebruary 17, 2025
7 Essential Tips for Keeping Your Liver HealthyFebruary 17, 2025
Apollo Hospitals to Host International Health Dialogue 2025 in New Delhi: A Global Summit on Patient Safety & Digital InnovationFebruary 17, 2025
Distractions significantly delay remote drivers’ reaction timeFebruary 17, 2025