FUTURE OF DIGITAL HEALTH AND THE ADOPTION OF THE SAME POST COVID
What inspired you to come back to India after spending a decade in London & Finland to start a Diagnostics Chain in India?
Well, it has more to do with my personal experience and a chain of events, that led me into the diagnostics business and shape Redcliffe Labs to what it stands for today!
I felt there is a much-needed gap that needs to be filled in when it comes to genetic testing. More so as it is the core fundamental to finding treatment from ecology, and surprisingly, it wasn’t mainstream. This made me think, as an investor with a diverse portfolio of companies why not invest in something that is the need of the hour and something that I can carry on forward. So, this was the inception point for Redcliffe Labs! We put together a super specialised lab in Delhi. Along with working with key opinion leaders towards building new research in the diagnostics space. From cancer, rare diseases to reproductive health. That was our niche for 2 and a half years. Our team worked hard and created 15 research publications and novel tests. Then we were able to go out into the market and really convince the key people to work with us.
After we built a small brand for us as a specialised space, the Covid pandemic broke out. That was a turning point again. It made us wonder what would be the next thing in healthcare. As the pandemic made healthcare a topic of conversation in every household. People started doing tests at home. We found this phenomenon very unusual, rather the new normal. As previously people went to a centre to give their blood samples. We realised the need to fill this lag by providing routine tests where the samples were collected from home, and this could be made possible by building lab facilities nearby along with opening of collection centres to cover the remote areas. And by building this ecosystem with a pan-india approach, this would be something unique. Also, if we could spill innovation and scale this up, then the clear strength would be that you could reach any consumer in less than 30 mins. Just like you get your food in 30 minutes, you could also get your testing done. So, we wanted to create a Zomato-swiggy mode of collection. Clubbed with an Amazon-style real-time tracking feature. By building a huge tech around this, it would help us build a huge test portfolio.
Also building this up with the local labs makes us the first pan-india lab chain with both genetic and routine tests at home and at the centres.
What are the challenges and hurdles faced during the setup of Redcliffe as you are nonmedical personnel?
Yes, I am a non-medical person but over the years I have invested in diverse companies. And I applied all that learning here.
First, I was clear that I am getting into something which is a large problem which I am here to solve in an efficient and unique way. So, there was no looking back even when we faced any roadblocks.
Funding is a validation and we too had our share of waiting period (challenge!) for sure but we did not let that bother us. We knew it would come as we are doing the right thing. Also putting together, a talented lot was not easy. But we knew that the team is the biggest asset and strength. So, we worked towards building a great team and proud to say that we have the best talent working with us.
Then, ultimately it all boils down to execution. There was so much to learn in our journey (challenges and opportunities) from the ecosystem. It took effort to be a part of that ecosystem. Especially as the Indian start-up ecosystem is very different from what it used to be.
Lastly, we worked hard to keep pace with the post-covid opportunities.
How do you see Future of e-diagnostics in India?
E-diagnostics in India will go mainstream, with full-throttle growth expected in the near future. It’s driven by the need for doorstep sample collection, quick turnaround time and speedy delivery of reports. Consequently, this will stimulate the sector to devise innovative techniques and newer tests with upgraded equipment and implementing the latest software applications, while also keeping a sharp eye on quality control and accuracy and affordability.
What are your plans for this financial year?
The company is planning to expand its operations in the country through a series of upcoming initiatives. It plans to launch another 44 labs in 2022 making it more than 60+ Labs and 1500+ collection centres across the country by the end of this financial year.
"Diagnostics, a boon for sure! Digital health will create a new platform, bringing in new opportunities for people to dive in. It will be centred on patient-led approach and accurate screening tests with timely results. Also, the automated processes will ensure minimal human interference which will help in maintaining a high degree of accuracy that leads to better patient diagnosis. ''