Riddhivinayak Medical Research & Development Private Limited

1. Company overview

We are a hospital namely “ RIDDHIVINAYAK MULTISPECIALITY HOSPITAL (RVMH)” on Plot No 302, Yashwant Gaurav Road, Behind Railway Carshed, Nallasopara (west), Dist. Palghar 401203, Maharashtra State. We are a 200 bedded hospital with 4 lacs sq feet of construction and 5 acres of land, having all the tertiary care services of all major medical specialties. Since the director of the Hospital Dr. Venkat Goyal, is a cardiologist himself, there was an atmosphere of ever increasing interest and pursuit to perfection in Cardiological sciences.
Since the beginning of 21st century there was a growing population of heart failure all over the globe. These were very sick people who required repeated hospitalization. They have a damaged heart and / or lungs who cannot support blood circulation and oxygenation inside the body, so, they required medicines and mechanical support by machines to bailout.
This mechanical support to a failing heart comes under the preview of MCS (Mechanical circulatory support). This machine or in common language “the blood pump” can be intracorporeal (inside the Body) or extracorporeal (outside the body – ECLS : Extracorporeal life support) Under this ECLS science, one of the extracorporeal mechanical support system is called the ECMO (Extra corporeal membrane oxygenation). In common men understanding this is similar to a Dialysis machine which replaces the kidney in purifying the blood in cases of kidney failure. Similarly ECMO helps to replace the heart and/or lungs when ever there is sudden but reversible massive insult on the above organs like Acute heart attack with heart failure and Massive pneumonia in viral or bacterial infections like COVID, or Inlluenza.
The conventional treatment of heart attack i.e blood thinners, coronary angiography and angioplasty or CABG (coronary artery bypass surgery) ends when heart is too weak to revive, and there is where the journey of MCS and organ(heart) transplant starts.
We, at RVMH, having around 25 years of experience in interventional cardiology (angioplasty and bypass surgery) and around 2 decades of experience in MCS. We are pioneers in the country to start ECMO technology since 2006, and start an educational mission of training, promoting and educating our fellowmen in ECMO technologies by forming a ECMO Society of India – (ESOI) in 2010.
Because, it is a very complex and costly affair and is applied as a last resort to critically ill patients, there is no room for mistakes. And new recruits cannot be allowed to touch any patient without having proper exposure and training. So, all highly complex jobs like aviation pilots, space astronauts and CPR emergency teams, they require repeated training on mannequin and artificial models to behave like live scenarios. As you may be aware of ACLS and BCLS and human mannequins for CPR and endo tracheal Intubation for practice.
Similarly, we need ECMO mannequins for imparting training and practice of ECMO for new comers. Till now, there are no well organized master and slave mannequin for water drills, cannulation and electronic simulation system. The ability of creating critical situations, holding and modifying as per the response of the student has been a big hinderance in imparting training to medical students. What ever is available in the market is all imported stuff costing more than 20 to 30 lacs of rupees and also their disposables are a big shortage.
We have been after this for the last 3 years and we have gone through phase 1 2 and 3 in modifying our Mannequin system from plaster of paris, to silica fibres to 3D printing. And since we are the pioneers in ECMO education since 2010, we are constantly improvising our mannequins with new and better ideas and processes.
We are a clinical entity with the use of these equipment for more than 20 years. ECMO science is a very important tool to save lives in case of sudden damage to heart and/ or lungs. But it is very costly (ranging between 15 lacs to 50 lacs of rupees per case) because the entire setup including machines and consumables are imported. So, 9/10 patients needing this support cannot be offered this treatment because of the exuberant cost in Dollar Price.
We are now venturing into indigenous manufacturing this set up in our own country. Over 30 years of clinical practice, now, we have the skills, the experience, the technical details and the wisdom of the positive and negative effects of the device.
Driven by our passion and getting a hope from the Start up Schemes under Atma nirbhar Bharat about the free start up funding and DPIIT Loan schemes we are applying for the financial support of this project.

2. Core value( Vision & Mission)

Vision: "Describe your big dreams for the future of your company and the positive changes you want to bring about."

Our Vision is to develop a novel technology of mechanical support to dysfunctional human organs which is yet to evolve in our country. We want to excel into all aspects of ECLS technology (Extracorporeal life support) for refractory failure of various human body organs including heart, lungs, kidneys and liver. Also, inputs for improving the existing designs which will make the product more competent and user friendly and multifunctional

Mission: "Sum up what your company stands for and how it aims to help people or society."

GO Realism - The company stands for service to mankind in a manner that is economical and competent to deliver state of the art technology to our masses. We want to bring in all our experience and target to make the cost viable for the economy of our society.

3. problem & Solution

Problem:

Material availability, bio compatibility and its biochemical and physical testing is a major problem in our country.
Engineering houses and 3D printing and testing labs to make prototypes are not easily available
Getting material from raw elements to unit structures in the model is another uphill task.
Show impact with statistics: Studies reveal that 80% of businesses report wasted time on non-essential tasks, resulting in a 25% loss in overall productivity.

Solution:

The economy will be effective only and only if the entire processing is done within one umbrella. Right from raw material to processing them into making a basic structural units to assembly to design modification will make it a product of choice.
Highlight the superiority of the solution: Our app provides a user-friendly interface and customizable features, surpassing traditional methods like paper planners. Currently in the validation stage.

4.Unique selling points

Economy: The necessity of this ECMO mannequins is that the existing imported ones are very costly and the availability of the products is also erratic. Thus, more than 90 % of our population and similar serious patients cannot afford this costly treatment. For every life is precious, and due to lack of resources, they should not be allowed to succumb. So, if we have an Indian product the cost will definitely be ¼ of the existing market goods
Combination of two components into one will improve ergonomics and cost.
Innovation: New ideas to modify design is a possibility as we have resources to put thoughts into action.

Detail technology overview

(given in the powerpoint presentation)
Any Patents/IP you have – NO, BUT WILL BE APPLYING SHORTLY AFTER WE VALIDATE THE mannequin

5. Go to market strategy

We are into education, promotion and training of ECMO science on a nonprofitable basis since 2010 under the auspices of ECMO SOCIETY OF INDIA. We have trained more than 1000 highly skilled professionals from nearly 70 corporate hospitals across 20 states in the country. We run the ECMO fellowship courses and certification programs for doctors and paramedics. We have our Journal as Indian Journal of ECMO (IJE) and we are shortly planning to start an Indian College of ECMO. Thus, we have a word in the field to ECMO in India and people do listen to us.
We have a student teacher relationship for most of the ECMO doers in the country. And we have already announced about our efforts for making ECMO circuit in India, so people are eagerly waiting for us to come up with a made in India product which is economical, easily available and had added features apart being multifunctional.

6. Revenue model

Financial Income source
- Sale of mannequins
Channels of revenue
- Self Funding
- Bank Loans
- Start up Schemes & SEED Funding
Pricing model being charged to the target customer
- End user – MRP - Rs 4,00,0000 – to Rs 5,00,000/ piece which is less than international brands ( Say Rs 25,00,000),
- Stockist / Distributor (Purchase Price – Rs 1,00,000 / piece)
- Around Rs 1,00,000– 2,00,000 profit per cannula
Pricing slabs for different customer segments
- Export to Asia & Africa
Cost-Effectiveness Analysis:
- Comparison of pricing with that of competitors absolutely needed
- Compare production and selling costs with imported cannula.
- Highlight cost savings for hospitals using local cannula (~30-40% cheaper).

Projected Revenue overhead expenses in 3 years
- Revenue Diversification
  - Cannula Sales: 80% of revenue.
  - After-Sales Support and Training: 10%.
  - Exports: 10% (from Year 2 onward).
This model leverages India's growing healthcare market and the need for cost-effective ECMO solutions in training and education

7. Target market

Size of market for ECMO Cannula
- First year – 100 pieces – 1 crore
- Fifth Year – 1000 pieces – 5 crores
Data points from credible sources
- ELSO data (USA) – 2024 May – No of ECMO done in SW Asia – 5047
- ESOI data (India) – 2023 – No of ECMO cases in India 4000 from 200 center
Target Market
- All major Hospitals & Medical colleges in India ((583) and 64 PG center))
- More than 3,00,000 ICU beds In India
- Organ transplant center and CVTS set ups
- Asia, Africa and middle east countries
- 1. Hospital Segments:
- Tier-1 Hospitals: Corporate chains like Apollo, Fortis, Medanta, and Max (60% market share).
- Tier-2/Tier-3 Hospitals: Regional hospitals expanding critical care facilities, including neonatal and paediatric ECMO.
- 2. Specialized Centre:
- ECMO service providers, heart and lung transplant centre, and paediatric ICUs.
- 3. Public Healthcare Sector:
- Government hospitals under schemes like Ayushman Bharat, promoting affordable ECMO access.
- 4. Emerging Markets:
- Smaller ICUs in tier-2 and tier-3 cities seeking affordable consumables.
- 5. Exports:
- South Asian markets (Bangladesh, Nepal, Sri Lanka), where ECMO use is growing but remains underserved.
Your ideal customer
- ECMO center = 200 at present
- ECPR (ecmo CPR) population – 75000 at present
Our niche
- Critical care Intensivists

8.Unit economy

Investment to get a customer
- Advertisement
- Demonstration of the technique and training
- Perks – sponsoring a trip to our training program
- Alternative incentives
- Scheme to give alternative consumables as free
- Distribution of medical literature and Books
Customer to purchase of cannula ratio
- Individual capacity – 1 - 3 mannequin / centre
- Publicity index – 1: 5 because of a closed loop community and repeated interactions

Business Expansion
- With Indian per capita increase in GDP we feel the deprived group (90 %) which is atleast 100 centres, will be next potential customers. Because ECMO is necessity, not a luxury in critically ill patients

9.Traction

Transaction Analysis of ECMO Mannequin in a Start-Up
Empowering affordable and accessible ECMO education and training in India.
High costs, import dependency, and limited accessibility hinder ECMO adoption in India.
Market Opportunity in India: - The ₹50 crore ECMO consumables market is growing at 12-15% annually.
Scope of ECMO in India: Expanding use in cardiac, pulmonary, neonatal, and transplant care, with untapped tier-2/3 potential.
Product Overview: Innovative, biocompatible, and cost-effective ECMO mannequin designed for Indian needs.
Transaction Analysis: Revenue model: B2B sales, government tenders, and collaborations with ECMO providers.
Financial Projections (Indian Market): ₹5 crore revenue by Year 3 with 60% gross margins.
Competitive Landscape (India): 200-500 % cheaper than imports, with localized manufacturing for faster delivery.
Go-To-Market Strategy (India): Pilot in metros, scale to tier-2 cities, and secure government healthcare tenders.
Risks & Mitigation: Proactive regulatory planning, strong supplier contracts, and targeted hospital partnerships.
Funding Ask: ₹5 crore ($1.2M) to launch in 12 months and expand to 20+ hospitals in Year 1.
Team: Experienced founders, technical experts, and ECMO-specialist advisors.
Affordable ECMO training for Every hospital in India—join us in transforming critical care.

10. Product or Services:

Our ECMO Mannequin Features:
Advanced Flow Dynamics: Ensures higher oxygenation efficiency.
Added features with electronic simulation.
Cost-Effective Manufacturing: Leveraging local supply chains to minimize costs by 30%.
Tailored Designs: Paediatric, neonatal, and adult variants for diverse Indian demographics.
Competitive Landscape (India)
Direct Competitors:
Imported Brands: Expensive and inaccessible in tier-2 and tier-3 markets.
Local Players: Few exist, limited to lower-end consumables.
Our Advantage:
200-500 % cost reduction compared to imported mannequin.
Custom designs for Indian patient demographics (smaller Paediatric variants).
Reliable local manufacturing, avoiding import delays and forex risks.

11. Proof of concept:

Objective: To validate the design, performance, and market viability of locally manufactured, cost-effective ECMO mannequin tailored for the Indian healthcare market.

Key Steps in PoC:
1. Research & Design:
Develop prototypes of cannulation and simulation ECMO mannequin using waterdrill and electronic simulation.
Focus on flow efficiency, complications alarms, and user friendly and comfort (e.g., pediatric and adult designs).
2. Bench Testing:
Conduct simulations to evaluate flow dynamics, durability, and material compatibility.
Test against international standards
3. Pilot Manufacturing:
Partner with a local medical device manufacturer for small-batch production.
Ensure compliance with Indian regulatory standards (CDSCO) and obtain necessary certifications.
4. Clinical Validation:
Collaborate with 2-3 leading hospitals (e.g., AIIMS, Medanta, RVMH) for validation.
Measure clinical monitoring, ease of usage, and diagnosing post-procedural complications.
5. Cost-Effectiveness Analysis:
Compare production and selling costs with imported mannequins.
Highlight cost savings for hospitals using local made teaching aids (~200-500 % cheaper).
6. Stakeholder Feedback:
Gather input from intensivists, ECMO specialists, and perfusionists for design optimization.
Address pain points like delivery time, inventory management, and affordability.
7. Market Validation:
Present results to hospital procurement teams and government healthcare bodies.
Secure initial orders and demonstrate potential demand through MOUs with distributors.
Deliverables:
Functional prototypes that meet clinical and regulatory benchmarks.
Positive feedback and measurable clinical outcomes from pilot trials.
Cost-benefit analysis showing significant savings over imported alternatives.
Stakeholder endorsements and initial purchase commitments.
Timeline:
0-3 Months: Research, design, and prototype development.
4-6 Months: Bench testing and pilot manufacturing.
7-9 Months: Clinical validation and stakeholder engagement.
10-12 Months: Final report, certifications, and market launch.