'High-end radiological set-ups are our specialty' Shreeji Diagnostics, which has three diagnostic centres in the Western suburbs of Mumbai, has been an early mover in all aspects of imaging - whether it be CT scanners, cardiac CT scanning, MRI, PET-CT scanners. Promoter Amit Maniar, who refused several job offers after completing his medical education in order to pursue his entrepreneurial dream, recounts his journey and his future plans.
What led you to set up Shreeji Diagnostics?
I finished my MD in 1986, and then went to USA for training in ultrasonography. During my college days itself I had determined to be self-employed and that was one reason why I became a doctor. On completing my medical education I refused several job offers, including at Tata Memorial Hospital, and started my own ultrasound centre.
This was then a new technology with very few practitioners. But soon I was discontented and aspired to grow further. At that time a few purely profit-driven CT centres run by non-medical businessmen started to crop up. This inspired me to look at this aspect of radiology and I convinced my CA wife to join me.
What difficulties did you encounter in turning from a doctor into an entrepreneur?
I garnered the requisite finances from bankers through tremendous effort. The interest rate at that time was 21 per cent. The rupee devaluation of about 40 per cent was a huge setback "" since the equipment was completely imported our capital cost appreciated by the same extent.
We had to struggle to make the project financially viable. And since the technology was new in our country, we had to educate the referring doctors about the usefulness of CT scan and its helpfulness in various pathologies. Fortunately, by hard work and the grace of God we were successful and we continued on our growth path from then.
What milestones that you have crossed in your entrepreneurial journey?
In 1997 we acquired our first MRI machine, which was among the first few machines in our country. After this we have constantly strived to install the latest equipment in all our imaging centres, as we soon proliferated to multiple centres in the western suburbs of Mumbai. High-end radiological set-ups are our specialty. We were the first to introduce digital X-ray equipment in the city of Mumbai.
What are your future plans for Shreeji Diagnostics?
In 2004 we installed the latest generation cardiac CT scanners, which have revolutionised cardiac imaging the world over. We purchased two scanners, the first few to be sold in the world. Now we are installing multiple PET-CT scanners which have changed cancer detection in the developed world. sTo perform the PET scan we need to inject into the patient's body a radio-nucleide called FDG (Fluro deoxy glucose) "" a radioactive material with a half-life of only 110 minutes. (In layman's language its activity becomes half every 110 minutes.)
Because there are no stable suppliers of FDG in India, which is produced in a cyclotron, we have finalised an order for a cyclotron from Siemens and we will be in position to manufacture and distribute FDG by November 2007. We have procured land at New Mumbai, and the equipment should be in the country by August. We selected a site at Navi Mumbai so we can distribute FDG to PET CT scanners in Mumbai as well as Pune.
We should be installing at least 10 cyclotrons in the country in the next three years, besides multiple PET CT scanners. We are looking at contract research and other pre-clinical medical research in collaboration with foreign universities and pharmacological companies, and at tele-radiology as an important future growth path. We have also entered medical tourism.
'We have constantly strived to install the latest equipment in all our imaging centres'
Dr Amit Maniar
Promoter, Shreeji Diagnostics
