India’s health and wellness sector is experiencing rapid growth, driven by increasing awareness of healthcare and technological advancements. Among the companies making a significant impact, Genericart Medicine Pvt. Ltd., established by Founder and Director, Mr. Shripad Kolhatkar, and Co-Founder, Mr. Salim Sayyed stands out by focusing on affordable healthcare solutions. Since its inception in 2015, the company has become a trusted name, particularly in underserved rural areas. Genericart Medicine offers an extensive range of cost-effective, high-quality products, making life-saving medicines accessible to millions across India.
Let’s explore how Genericart Medicine is transforming healthcare accessibility for millions across India!
A Vision Rooted in Affordability and Access
The founding vision of Genericart Medicine was to bridge the gap between healthcare quality and affordability. Starting in the Tier-4 town of Miraj, Maharashtra, in 2015, Genericart Medicine recognized the difficulty many Indians face in accessing affordable healthcare. “Affordable healthcare should be a right, not a privilege,” say Mr. Kolhatkar and Mr. Sayyed. This philosophy drove the company’s creation and has remained its guiding force as it expanded.
Today, Genericart Medicine operates 1,800 physical stores across 15 states and works with 16,000+ online business partners, offering 27,000+ products. These products cater to critical conditions like cancer, diabetes, cardiovascular diseases, and HIV, reaching over 88 lakh people. The company’s rapid expansion reflects its unwavering commitment to ensuring no Indian is denied access to life-saving medicines due to financial constraints.
Unique Value Proposition
Genericart Medicine has carved out its niche by providing affordable healthcare without sacrificing quality. The company offers up to 70% discounts on life-saving medications, resulting in significant savings for families across India. Since its launch, Genericart Medicine has saved Indian households a total of ₹800 crore, a staggering achievement in a healthcare system dominated by expensive branded medicines.
“Our focus on affordability combined with a commitment to quality sets us apart,” state Mr. Kolhatkar and Mr. Sayyed. This combination is backed by ISO 9001:2015 certification and adherence to WHO/GMP standards, ensuring that all products are safe and effective. Genericart Medicine has proven that affordability and quality can coexist, making it a reliable provider in India’s healthcare sector.
Expanding Rural Reach
Unlike many healthcare brands that concentrate on urban areas, Genericart Medicine prioritizes rural outreach. Understanding that healthcare access is often limited in rural India, the company made accessibility a central aspect of its mission. Its network of 16,000+ online business partners and 1,800+ franchises ensures that even remote areas have access to high-quality medicines.
A centralized warehouse system enables the company to deliver essential medicines to any part of India within 72 hours, ensuring timely access to treatment. “We focus on reaching underserved populations where healthcare access is limited,” explain Mr. Kolhatkar and Mr. Sayyed. This logistical innovation is supported by cutting-edge technology, including a POS system, live quality control, and a user-friendly mobile app.
Educating the Market and Expanding Infrastructure
Genericart Medicine faced significant challenges when introducing generic medicines to the Indian market, where skepticism about their efficacy was common. Convincing patients and healthcare providers that generics could be as effective as branded medicines was an uphill battle. “Convincing both healthcare providers and patients of the efficacy of generic medicines was a major hurdle,” say Mr. Kolhatkar and Mr. Sayyed. To overcome this, the company conducted awareness campaigns and partnered with respected medical professionals to endorse its products.
Scaling the business from a small-town operation to a national distribution network presented additional challenges. Genericart Medicine addressed these by implementing its centralized warehouse system, allowing for seamless distribution across India. This supply chain model, coupled with technological innovation, has enabled the company to scale its operations without sacrificing product quality or delivery times.
A Customer-Centric Approach
At the core of Genericart Medicine’s business strategy is a customer-first approach. The company gathers feedback through various channels, including in-store surveys, customer service interactions, and its mobile app. This feedback loop has helped Genericart Medicine refine its offerings and expand services. One significant insight was the demand for home delivery services, especially in rural areas. In response, the company expanded its delivery network to ensure that even the most remote locations could receive essential medicines within 72 hours.
Customers also showed a preference for a seamless digital experience, prompting the company to optimize its mobile app and online platforms. These innovations have not only increased customer satisfaction but also streamlined operations, making it easier for users to access affordable medicines with minimal hassle.
Building Trust Through Transparency and Community Engagement
Building and maintaining customer trust is essential in the healthcare sector, and Genericart Medicine has succeeded by prioritizing transparency and quality. The company adheres to ISO 9001:2015 quality management standards and offers WHO/GMP-certified products, ensuring customers receive safe, high-quality medicines. “Trust is built through transparency, quality, and community engagement,” explain Mr. Kolhatkar and Mr. Sayyed.
In addition to quality, the company’s community engagement efforts have played a pivotal role in building trust. Through the Generic Online Business Partner (GOBP) program, Genericart Medicine has created 20,000+ jobs across India. Many of these partners are well-respected members of their local communities, further reinforcing the trust and credibility of the brand.
Expanding Reach and Product Range
Looking ahead, Genericart Medicine has ambitious plans for both short-term and long-term growth. By 2025, the company aims to expand to 2,500 physical stores, with a particular focus on rural markets. In the long term, it plans to open 25,000 stores by 2031 and impact the lives of 10 crore Indians.
The company also plans to diversify its product offerings, focusing on the management of chronic diseases. As the burden of chronic diseases such as diabetes and cardiovascular conditions continues to rise in India, Genericart Medicine aims to address this growing need through an expanded product portfolio and more targeted healthcare solutions.
Advice for Aspiring Entrepreneurs
Based on their experiences, they offer valuable advice to entrepreneurs aspiring to enter the healthcare industry: “Always keep the customer at the heart of your business.” They emphasize the importance of integrity, transparency, and empathy, particularly in healthcare, where the stakes are high. Entrepreneurs must also be prepared to face challenges, demonstrate resilience, and innovate continuously to succeed in such a competitive market.
Finally, they underscore the importance of technology. “Integrating tech into your business will not only help you scale but also ensure you deliver better services to your customers,” they say. In a rapidly evolving healthcare landscape, technology plays an essential role in enabling businesses to provide high-quality, accessible services at scale.
A Holistic Approach to Health
Mr. Kolhatkar and Mr. Sayyed’s journey as the co-founders of Genericart Medicine has also shaped their personal views on health and wellness. “We’ve come to realize that prevention is as important as cure,” they reflect. In their own lives, Mr. Kolhatkar and Mr. Sayyed emphasize the importance of mindfulness, regular exercise, and a balanced diet, while also recognizing the need for mental well-being. This holistic approach to health is reflected in Genericart Medicine’s operations, which not only focus on curing illnesses but also promoting overall well-being for its customers.
