In an exclusive conversation with APAC Media and CXO Media, Prashant Krishnan, Chief Executive Officer, TI Medical, sheds light on how the medtech company is redefining the landscape of medical consumables with a strong focus on innovation, affordability, and accessibility.
How does TI Medical differentiate itself from other Medtech product companies?
TI Medical stands apart from other MedTech product firms due to its strong dedication to innovation, quality, and accessibility. As a joint venture between Tube Investments (a Murugappa Group firm) and Premji Invest, we are motivated by the goal of providing a holistic solution for consumable medical devices under the Atmanirbhar Bharat initiative. Our goal is to make world-class, high-quality, inexpensive, and safe medical equipment available to everyone.
With our strong manufacturing skills and investments in expanded capabilities and regulatory expertise, we aim to provide a one-stop solution for healthcare practitioners worldwide, contributing to our mission of Make in India, Make for the World. Through this, TI Medical hopes to make a significant contribution to the healthcare sector, increasing both patient care and the wider MedTech landscape.
How does the company leverage emerging technology to address the evolving needs of healthcare?
I believe in progressing alongside emerging technologies, and at TI Medical, we are working to revolutionize the value chain using AI. By treating data as a strategic asset and employing AI for hyper-personalization and automation, we want to accelerate growth and unleash new market opportunities. We are committed to creating intelligent solutions that meet the demands of both patients and healthcare providers.
Leading MedTech companies are already leveraging Gen AI, data analytics, and robots to drive long-term growth and enhance patient outcomes, and we are preparing to do the same. In today’s disruptive landscape, medical technology companies must embrace market-driven reinvention. At TI Medical, we are going to do this through a strong digital core that drives product innovation and boosts operational efficiency, ensuring we remain at the forefront of healthcare technology.
How does TI Medical ensure that its products and services align with the needs of both healthcare providers and patients?
We have a collagen range of wound dressings, TransDerm, which plays an important role in first and second-degree burn patients, and we have noticed that this product line has helped burn patients heal quickly and effectively. TransDerm delivers optimal care at every step of healing by providing individualized treatments for different wound types, allowing patients to recover faster and restore their quality of life; and this is just a single case with many of our products. TI Medical is committed to enhancing wound care and improving patient health worldwide through continual innovation across our sutures, surgical wound closure, and advanced wound care portfolio.
With healthcare needs varying globally, how does TI Medical customize its strategies for different markets? Is the company planning to expand into new markets or introduce new product lines in the near future?
At TI Medical, we understand that healthcare challenges, laws, and patient needs differ by market. Our strategy is based on comprehensive market data, local partnerships, and adaptive solutions. We tailor our product portfolio to match regional clinical needs, assure compliance with country-specific regulations, and product offerings that are appropriate for varied healthcare systems. In addition, we collaborate with important stakeholders—healthcare professionals, regulatory agencies, and distributors—to improve accessibility and effect. By remaining flexible and responsive, TI Medical provides high-quality, market-specific solutions that improve patient outcomes worldwide.
Yes, we are focusing on expanding the market and introducing new product lines. In terms of market growth, TI Medical is actively expanding its footprint and reaching out to new territories on every continent of the world. Today, we are proud that TI Medical products are available globally. We are devoted to making our unique medical solutions available worldwide so that healthcare providers everywhere can benefit from our experience and products.
Regarding our product strategy, we have a clear vision to position ourselves as a comprehensive, one-stop solution for all the diverse needs of clinicians and healthcare facilities. This includes everything from essential medical consumables to advanced implants. By expanding our product portfolio, we aim to provide holistic support to hospitals, clinics, and healthcare professionals, enabling them to offer the best care to their patients.
What role do you see TI Medical playing in the future of personalized medical technology and precision healthcare?
TI Medical is going play a vital role in the future of individualized medical technology and precision healthcare, utilizing our dedication to innovation and superior manufacturing capabilities. As healthcare evolves toward more individualized treatment, we hope to accelerate the creation of tailored medical solutions that address each patient’s specific needs.
Our Hernia Solutions products are increasingly customized to meet individual patient needs. As we evolve with newer therapies, we remain committed to keeping the patient at the center of our offerings.
Anannya Saraswat, APAC Media
