Healthcare has always been a crucial pillar of society, but its importance has been magnified in recent years. As we move through 2024, the focus is increasingly on the leaders driving transformative changes in this sector. These leaders are not only responding to current challenges but also innovating for a better tomorrow. Among them, Pankaj Narula, Managing Director of Srishty Medical Pvt Ltd (SNG India), stands out for his visionary approach and relentless dedication to improving healthcare infrastructure.
Under his leadership, the company has evolved its food and beverages division & later on becoming a pioneering force in healthcare automation and logistics solutions. Alongside his brother, Puneet Narula, Pankaj has redefined SNG India’s mission, steering it towards becoming the foremost healthcare infrastructure provider in South Asia.
With a vision “to become the No. 1 healthcare infrastructure provider in South Asia,” SNG India has made significant strides in revolutionizing hospital efficiency and patient care. From introducing cutting-edge technologies to forming strategic partnerships with leading global OEMs, Pankaj Narula’s leadership is a declaration to the transformative power of innovation in healthcare.
Let’s explore the journey of SNG India under his guidance and the impact of their pioneering solutions!
The Early Years from Foods & Beverages to Healthcare
When Pankaj Narula joined SNG India, the company, then known as Narula Group, was engaged in the medical devise and foods & beverages sector. “I joined SNG (formerly known as Narula Group) in the year 1992, soon after my return from my studies at Indiana Institute of Technology, USA,” he recalls. This division included tea plantations, packaged tea, rice trading, and other agricultural products. Meanwhile, his brother Puneet Narula managed the medical division founded by their father, the late P.K. Narula, in 1953.
However, the Narula brothers soon realized the need for a strategic shift. After exiting the food and beverages business in 1997, Pankaj joined Puneet in the medical division. Together, they reorganized and rebranded it as the Healthcare Infrastructure Division, focusing entirely on healthcare infrastructure solutions. This reorganization took three years, during which they scouted for newer technologies tailored to the Indian healthcare sector.
The Move to Healthcare Automation
The motivation to focus on healthcare automation and logistics solutions stemmed primarily from their vision to lead in this sector. “Our vision is to become the No. 1 healthcare infrastructure provider in South Asia,” Pankaj asserts. During the reorganization phase, they identified critical pain points in the healthcare infrastructure through extensive surveys and studies.
India’s rapidly growing economy, coupled with its large and aging population, presented unique challenges and opportunities. The healthcare sector, one of India’s largest in terms of revenue and employment, was undergoing rapid transformation. Factors such as rising middle-class incomes, increased health insurance penetration, and changing demographics were driving this growth. By 2022, the Indian healthcare industry had reached over $370 billion and was projected to exceed $610 billion by 2026.
Despite these advancements, intra-facility logistics and materials management in Indian hospitals remained outdated and inefficient. “Despite Indian hospitals and healthcare providers excelling in various fields, the intra-facility logistics and materials management remained untouched by the latest innovations in automation of healthcare logistics, materials transportation, and supply chain,” Pankaj explains. Recognizing this gap, SNG India decided to focus on solutions like Hospital Pneumatic Tube Systems, Automated Pneumatic Hospital Waste & Laundry Collection Systems, Robotic Hospital Pharmacy Automation, and Automated Guided Vehicles (AGVs).
Strategic Partnerships
A key component of SNG India’s success has been its strategic partnerships with multi-billion-dollar Original Equipment Manufacturers (OEMs). These collaborations have been instrumental in bringing innovative technologies to the Indian healthcare market. “We have been known to be the group that brings new technologies to the Indian healthcare,” Pankaj notes.
These partnerships, often referred to as “technology centers,” involve well-placed, experienced OEMs and technology developers from Europe, the USA, and the Middle East. “Our partners have been with us now for many decades continuously and support us in catering to the South Asian markets with their technology, and often even developed & tailored the technologies to suit and fit the local markets with their products & solutions,” he adds.
Impacting Hospital Efficiency and Patient Care
SNG India offers a wide range of healthcare solutions, each designed to address specific inefficiencies within hospital operations. From pneumatic tube systems to automated waste management, these technologies have significantly improved hospital efficiency and patient care. “Each of these technologies has had its own share of impact on the healthcare facilities’ efficiency and quality of patient care,” says Pankaj.
For instance, Pneumatic Tube Systems have reduced turnaround times for lab reports and spontaneous deliveries of drugs and blood bags, minimizing risks of cross-contamination, pilferage, and bio-hazards. Automated Pneumatic Waste & Laundry Collection Systems have streamlined waste and laundry management, eliminating the need for manual transportation through public areas and reducing bio-hazard risks. Similarly, Robotic Pharmacy Automation has minimized drug-related errors, reduced medico-legal issues, and decreased the workload on nurses.
A Vision for the Next Decade
Looking ahead, Pankaj envisions continuous technological evolution in Indian hospitals over the next 5-10 years. “Technologies shall have a role in evolving hospitals continuously, it’s dynamic, and the technologies shall continue to help improve the quality of healthcare delivery, help reduce risks, help heal faster, help reduce costs, enhance healthcare facilities, improve efficiency, improve throughput, improve accountability, and reduce critical life-saving time,” he predicts.
The healthcare domain in India is ready for further transformation, with a growing emphasis on integrating advanced technologies to enhance patient care and operational efficiency. SNG India is well-positioned to lead this change, utilizing its extensive experience and strategic partnerships to deliver innovative solutions.
Meeting the Needs of Diverse Institutions
SNG India’s success is also attributed to its ability to customize solutions to meet the specific needs of diverse healthcare institutions. “Historically we have been engaged in over 3000 hospitals and healthcare institutions in the region,” Pankaj states. In recent years, the company has worked with over 750 hospitals, including leading healthcare providers like Manipal Healthcare, PSG Hospitals, Reliance Foundation, and Reliance Kokilaben Dhirubhai Ambani Hospitals.
The operations in hospitals may be common, but SNG India’s solutions are bespoke, designed based on the architecture, structures, and layouts of each institution. This customization is supported by an experienced in-house design, supply, and execution team, led by Puneet Narula, Joint Managing Director & Head of Projects and Technicals.
Adaptability in Critical Times
The COVID-19 pandemic presented extraordinary challenges for healthcare providers worldwide. However, SNG India adapted quickly to support hospitals during this critical time. “COVID-19 periods were the most important learning periods for all of us,” Pankaj reflects.
SNG India introduced HEPA filter systems and Silver-infused Clean Tube systems for their Pneumatic Tube Systems to prevent the spread of bacteria, viruses, and microbes. Additionally, the company focused on indigenizing parts of the technology components to ensure local availability and reduce dependency on overseas suppliers. This strategy aligns with the “Make in India” program by the government, which encourages local manufacturing and innovation.
Insights for Emerging Healthcare Technology Companies
With his extensive experience in business development and marketing, Pankaj offers valuable advice to emerging healthcare technology companies looking to establish themselves in the Indian market. “Before one may even begin, must study the needs of the market, pain points of the market, and then identify the solution and technology that would help to address those problems in the short term and long term,” he advises.
Understanding the energetic nature of technology and staying ahead of the curve is crucial. “To be on the top of the technology and know when to recycle the technology at the right time is another challenge,” he adds. Simply introducing new technology without addressing the specific needs and gaps in the market will not lead to success.
A Legacy of Excellence
SNG India has been a family-run business for decades, a legacy that has significantly influenced Pankaj’s leadership style and the company’s values. “Both, Puneet and I, have watched our father, Late P K Narula, work relentlessly, for more than 20 hours a day and 7 days a week, for decades, throughout,” Pankaj recalls. This dedication to customer satisfaction and understanding the intricacies of healthcare technologies has been instilled in them from a young age.
The stability, commitment, flexibility, and long-term outlook inherent in family-run businesses have been advantageous for SNG India. The next generation has already begun contributing to the company, bringing new ideas, technologies, and applications to propel the business forward. “We expect multiple verticals to prop up with new ideas, new technologies, new applications, new areas, and with new leaders to lead and take the legacy forward,” Pankaj says.
Indigenizing Components and Products
One of the significant initiatives under Pankaj’s leadership has been the indigenization of various components and products. This move ensures the availability of critical components locally and reduces dependency on international suppliers, enhancing the company’s ability to support healthcare institutions during crises like the COVID-19 pandemic.
SNG India has been producing indigenized components and products for medical equipment since 1982, under well-established brands like MEDITEK®, SRISHTY®, and SNG®. These products, which include patient care furniture, mobile solutions, medical gas pipeline systems, bed head panels, ceiling supply pendants, surgical lighting solutions, pneumatic tube systems, and modular operation theatres, are designed to meet the specific needs of the Indian market. Some technologies have been acquired from overseas partners, such as Sonnemed from Germany and Air-Log from Germany, to enhance their offerings further.
Preparing for Future Challenges
The healthcare sector is continually evolving, and SNG India is committed to keeping up with the changes. By focusing on continuous innovation, strategic partnerships, and indigenization, the company aims to address future challenges effectively. “No one can really predict the scale of impact of the pandemic, wars, and similar critical circumstances – but we can prepare ourselves and the hospitals to reduce the impact and manage as best as we all can,” Pankaj asserts.
With a robust foundation and a forward-looking approach, SNG India is balanced to continue its journey as a leader in healthcare infrastructure, driving positive change and setting new standards for the industry.
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