The managing director of Thyrocare, A Velumani, had two dreamsâ€”to ensure that his firm should serve 50% of the world’s population for 50% of their diagnostic needs at 50% of the cost. The other was that his firm should be the biggest client for the top 20 diagnostic manufacturing companies in the world.
Inching ever closer to his dream a decade after launching Thyrocare, Velumani, who has a doctorate in Thyro Immunodiagnostics, learnt that franchising was the best way to leverage his firm. Today, Thyrocare boasts of a spanned franchisee network across the country, with its head office in Mumbai.
The largest thyroid testing laboratory which provides specialised tests has been growing at a compounded annual growth rate of 200%, from the time of its inception. Thyrocare has evolved into a 7,200 plus samples-a-day healthcare service industry, offering more than 125 specialised diagnostic assessments. Adoption of stringent international quality standards, which have been accredited by various external bodies, has helped pave the path.
Incidentally, the company entered into a strategic alliance with Glaxo Wellcome for the manufacture of Eltroxin, a medicine for the cure of thyroid deficiency. In terms of alliance, the pharma major Glaxo Wellcome extensively markets the company’s processing activities.
The company has also sponsored the setting up of the Thyrocare Institute of Medicine Education, which will impart training in the field of laboratory medicine. Its main objective is to link academics with the diagnostics industry, by conducting specialised seminars in frontier areas of biology and courses in immunodiagnostics and molecular diagnostic technologies.
“Thyroid disorders are curable by cheap and safe methods of medication,” says Velumani. “Even thyroid cancer is not life-threatening. Once the gland is removed and radio-iodine treatment is given, it will ensure that the patient is completely safe and free of cancer.” A big boon to the scores of sufferers.
Source:The Times Of India