Tata Elxsi, a Tata Group company that offers services supported by design thinking and digital technology, has decided to increase its focus on the healthcare segment.
Though healthcare currently accounts for less than 10% of its total business, it has been the fastest-growing segment for the company and this year it is set to grow over 100% over last year.
Tata Elxsi works with one of the leading players of the likes of GE, Philips and Siemens, but a lot of its work comes from a number of privately-held, not so well-known to the public, companies in Europe and the U.S. that report annual revenues in the range of $2-10 billion.
These companies provide specialised products that are used for the care of certain critical health issues. It could be related to kidney, it could be related to some surgeries, specific equipment used in the ICUs or it could be part of certain infusion pumps to deliver the right quantity of drugs in critical care units.
Manoj Raghavan, CEO & MD, Tata Elxsi told The Hindu that: “We are currently working on some of the incredibly complicated and sophisticated devices for our customers. Some of these devices are still in the R&D stage. They include a portable dialysis kit that will greatly improve the quality of life for patients. We do the research, design and development of software for a wide variety of innovative healthcare devices.’’
The company has developed quite a few technologies and devices to its credit. For instance, it has developed something called the ‘negative wound pressure therapy’ system. Explaining the product, he said, if a person has an accident or if one has a major wound that needs proper treatment, the device sucks up all the fluids, pus and all other debris. It helps in healing the wound faster. It’s a very sensitive device and it does not destroy the healthy tissue.
The company builds prototypes and then it transfers the technology to its customers. The company has marquee names among its customers to which it supplies the medical technologies developed by it.
The firm has also developed a technology to ensure how much fluid should go into a patient in critical care, and then remove toxins from the body. “The removal of toxins is all controlled by software. The software tells you when you should replenish the stocks. It has a lot of sensors to help in the process,” Mr. Raghavan added.
As of now, about 48% of Tata Elxsi’s business comes from the automotive sector, and about 35% from the media and broadcast and the rest from medicl devices. The company is currently in the process of reducing its dependence on automotive space by increasing its focus on health.
Published - April 08, 2020 10:48 pm IST
