The Most Reliable Medical Device Companies in 2024

www.ciolookindia.com LOOK I N D I A Vol 08 Issue 01 2024 + The Most Reliable Medical Device Companies in 2024 Anil Srivastava Chief Operating Officer Nihon Kohden India Pvt Limited The Crown Jewel of Healthcare – Nihon Kohden India A Trusted Partner in Advanced Medical Technology

+ The Most Reliable Medical Device Companies in 2024

AT THE FOREFRONT OF MEDICAL DEVICE INNOVATION A s the healthcare industry continues to evolve, the demand for innovative and reliable medical devices has never been greater. In 2024, a select group of companies has emerged as the most trusted names in the field, setting new standards for quality, safety, and patient-centric innovation. Another key factor that sets these companies apart is their commitment to ethical practices and corporate social responsibility. They prioritize patient safety, ensure transparency in their operations, and engage in initiatives that promote access to healthcare and support underserved communities. This commitment to social responsibility not only enhances their reputation but also contributes to the overall well-being of society. These leading medical device companies are not only at the forefront of technological advancements but also prioritize ethical practices, regulatory compliance, and a commitment to improving patient outcomes. By investing in research and development, these companies are driving progress in areas such as minimally invasive surgery, personalized medicine, and remote patient monitoring. As you will notice in the following pages of CIOLook India’s edition of ‘The Most Reliable Medical Device Companies in 2024,’ will continue to play a crucial role in shaping the future of healthcare. Their dedication to innovation, quality, and patient-centricity will drive progress and inspire others to strive for excellence in this vital industry. By maintaining their commitment to reliability and ethical practices, these companies will remain at the forefront of medical device innovation, positively impacting the lives of patients worldwide. One of the defining characteristics of the most reliable medical device companies is their focus on quality. They adhere to rigorous manufacturing standards, implement robust quality control measures, and maintain a culture of continuous improvement. This dedication to quality ensures that their products meet or exceed regulatory requirements and deliver consistent performance, ultimately enhancing patient safety and trust. Moreover, these companies recognize the importance of collaboration in driving innovation. They actively engage with healthcare professionals, researchers, and patient advocacy groups to gain insights into unmet needs and develop solutions that truly make a difference in people's lives. By fostering a spirit of collaboration, they create synergies that lead to breakthrough technologies and improved patient outcomes. Editor's Note - Gaurav PR Wankhade Managing Editor

Profiles Cover Story 08 Accurex 22 Fostering Indian Healthcare Advances by Harnessing the Legacy of Trust and Quality 26 Yolo Dynamics Ltd Revolu?onizing Medical Devices Through Innova?ve Solu?ons Articles The Crown Jewel of Healthcare – Nihon Kohden India 18 30 The Reliability Revolution Transforming the Medical Device Industry From Bench to Bedside Ensuring Reliability in Medical Devices A Trusted Partner in Advanced Medical Technology

FOLLOW US ON www.twitter.com/ciolookindia www.facebook.com/ciolookindia/ LOOK + I N D I A www.ciolookindia.com The Most Reliable Medical Device Companies in 2024 Abhishek Joshi Editor-in-Chief WE ARE ALSO AVAILABLE ON CONTENT Managing Editor: Gaurav PR Wankhade Assisting Editor : Prajakta Zurale CONTACT US ON Email sales@ciolookindia.com For Subscription www.ciolookindia.com Company Featuring Brief DESIGN Visualizer: Sandeep Tikode Art & Design Director: Sameen Arif Associate Designer : Nagaraj Patil Accurex Biomedical is India's 1st manufacturer of Biochemistry Reagents providing accurate and reliable products and services in the In-Vitro diagnostics. Abhinav Thakur, Managing Director Accurex Biomedical Pvt. Ltd. Incepted in 1987, Allengers Medical Systems Ltd, headquartered at Chandigarh, India, is a leading x ray manufacturer and exporter of medical diagnostic. Allengers Medical Systems Ltd Vivek Gupta, Marketing and Communication Copyright © 2024 CIOLOOK India, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from CIOLOOK India. Reprint rights remain solely with CIOLOOK India. SALES Vice President : Swapnali Vasaikar Asst. Vice President : Tejaswini Whaval Sr. Team Leader : Suraj Gadekar BDE : Bhagyshri Bhandwalkar Sriram Natarajan, Director Molbio is a disruptor in the global healthcare landscape, shifting existing paradigms in point-of-care diagnostics. Molbio Diagnostics Nihon Kohden's mission is to utilize its leading-edge technology and products to support medical treatment in all clinical areas from emergency response. Anil Srivastava, Chief Operating Officer Nihon Kohden India Pvt Limited TECHNICAL Technical Head : Prachi Mokashi Technical Specialist: Rajeshwari Avhad Technical Consultant : Tanaji Fartade Rajesh Parmar, President and CEO Yolo Dynamics is dedicated to improving lives through innovative human implants. Yolo Dynamics Ltd sales@ciolookindia.com Aug, 2024 SME-SMO Research Analyst : Renuka Kulkarni SEO Lead : Nikita Khadalkar Cover Price: Rs.300/-

The Most Reliable Medical Device Companies in 2024 The Crown Jewel of Healthcare – Nihon Kohden India A Trusted Partner in Advanced Medical Technology C o v e r S t o r y Anil Srivastava | Chief Operating Officer | Nihon Kohden India Pvt Limited

I subsets–reliable medical technology plays a vital role in improving patient outcomes and advancing medical care. Nihon Kohden India Pvt Limited, a subsidiary of the globally renowned Nihon Kohden Corporation, stands out as a leading provider of innovative medical devices in the Indian market for the past, present, and beyond. t is incredible to see the healthcare industry's evolution over the last few decades. As was evident during the global fight against the coronavirus–one of healthcare’s Our commitment to innovation, integrity, and inclusivity continues to propel us forward as we work to shape the future of healthcare in India and beyond. Founded in 1951 with a vision of "Fighting Disease with Electronics," Nihon Kohden Corporation, Japan has a rich history of pioneering advancements and innovations in medical technology. According to Anil Srivastava, the Chief Operating Officer, their dedication to research and development has resulted in a comprehensive portfolio of solutions spanning various medical disciplines. The Noble Pursuit of Healthcare Excellence When asked if he could take us back to the beginning of their saga as a pioneer in the medical devices industry, Anil says, “I'd love to dive into that journey!” Imagine stepping into the world of medical devices, where innovation intertwines with the noble pursuit of improving healthcare outcomes. “For me, it all started with a blend of fascination and empathy.” The invention of pulse oximetry by Dr. Takuo Aoyagi, an engineer at Nihon Kohden, marked a significant milestone in medical technology. In 1972, Dr. Aoyagi discovered a non-invasive method to measure the oxygen saturation in arterial blood, which led to the development of the first pulse oximeter. This device, which attaches to a patient's fingertip, uses light absorption principles to monitor oxygen levels without the need for blood sampling. The introduction of the OLV-5100 ear oximeter by Nihon Kohden in 1975 utilized this groundbreaking technology, offering a new way for healthcare professionals to continuously monitor patients' vital signs with greater ease and accuracy. Today, pulse oximetry is an essential tool in various medical settings, from operating rooms to home care, especially highlighted during the COVID-19 pandemic for monitoring patients' respiratory status. Dr. Aoyagi's invention has undoubtedly saved countless lives and continues to be a cornerstone in patient monitoring systems worldwide. The invention of pulse oximetry played a crucial role during the COVID-19 pandemic, serving as a frontline tool in monitoring and managing patients. This non-invasive

device became essential in detecting early signs of respira- tory distress, a common complication of COVID-19. The pulse oximeter's ability to detect 'silent hypoxia'—a condition where patients do not exhibit obvious symptoms of oxygen deprivation—proved to be a game-changer, particularly in settings with limited resources. The device's significance was further underscored in low-resource settings, where it became a critical triage tool, helping to prioritize care for those in urgent need of oxygen therapy. Overall, pulse oximetry's contribution to COVID-19 management was invaluable, highlighting the importance of such innovations in global health crises. • • Collaborative Partnerships, Commitment to Education and Training. When told his leadership style is often recognized as a driving force behind Nihon Kohden's achievements, Anil says in gratitude, “Thank you for the kind words. Leadership and team building are indeed foundational elements of our company's success. Here's an overview of my approach” – • • • • • Vision and Inspiration, Empowerment and Trust, Communication and Transparency, Collaboration and Diversity, Continuous Learning and Development. It's not just about creating a product; it's about partnering with healthcare professionals, researchers, engineers, and patients to develop solutions that truly make a difference. That collaborative spirit appealed to Anil’s desire to work at the intersection of technology and human well-being. “We call it ‘Human Machin Interface.” Anil’s leadership and team-building approach is centred around vision, empowerment, communication, collaboration, and continuous learning. By cultivating a culture of trust, transparency, and innovation, he enables his team to achieve extraordinary results and drive the success of their organization. Today, Nihon Kohden has emerged as one of India's most trusted Medical Devices companies. Sharing their guiding philosophy, Anil says that at the heart of their organization's success lies a guiding philosophy built on "Fighting Disease with Electronics," given by the founder Dr Yoshio Ogino in 1951. From development to production, and from sales to after-sales services, they are building a globally oriented business structure, with the aim of becoming a global leader of medical solutions. The Proficiency Equilibrium The essence of medical devices lies in innovation, disruptions, accuracy, and enhancing detection, diagnosis, and treatments. Anil says they balance operational efficiency and customer satisfaction by focusing on streamlined processes, maintaining rigorous quality “By staying true to these core values, we've been able to earn the trust and confidence of healthcare professionals, patients, and partners across India,” he adds. “Our commitment to innovation, integrity, and inclusivity continues to propel us forward as we work to shape the future of healthcare in India and beyond.” By developing smart devices, harnessing Human Machine interface, embracing advanced data capabilities, prioritizing data security, and fostering collaboration, we're at the forefront of driving innovation and transformation in the medical device’s ecosystem. The Legend Evolves The Medical Devices landscape is continually evolving. In such a scenario, Anil says their firm's USPs revolve around a relentless commitment to innovation, patient-centricity, quality, collaboration, and education. “By staying true to these principles, we've earned a reputation as one of the best innovators in the medical devices industry, poised to shape the future of healthcare for years to come.” • • • Cutting-edge Innovation, Focus on Patient-Centric Solutions, Quality and Reliability,

standards, adopting a customer-centric approach, fostering a culture of continuous innovation, and providing responsive customer support. “By prioritizing both efficiency and satisfaction, we're able to deliver value to our customers while driving the success of our organization.” We're dedicated to creating a culture of growth, skill development, and empowerment where employees feel valued, supported, and inspired to reach their full potential. Fostering a Technological Disruption Further, Anil says digitalization and technological advancements are at the forefront of the modern medical devices ecosystem. Nihon Kohden is fully committed to embracing these principles to shape a technovative healthcare future. Anil says they're deeply committed to integrating digitalization and technological advancements into their core functioning to contribute to a technovative healthcare future. By developing smart devices, harnessing Human Machine interface, embracing advanced data capabilities, prioritizing data security, and fostering collaboration, “We're at the forefront of driving innovation and transformation in the medical device’s ecosystem.” When the pandemic hit, it posed unprecedented challenges to their operations, supply chain, and customer engagement. Demand for certain medical devices surged, while logistical disruptions and regulatory changes added complexity to their operations. Additionally, ensuring the safety of their employees and maintaining business continuity became top priorities. Team Triumphing Over Troubles Anil ardently believes that the workforce is the cornerstone of every successful organization. Thus, “We're dedicated to creating a culture of growth, skill development, and empowerment where employees feel valued, supported, and inspired to reach their full potential.” By investing in their workforce and prioritizing employee development and well- being, they can attract, retain, and motivate top talent, driving the success of their organization. He states, “In response to these challenges, our team quickly mobilized and adapted to the rapidly changing environment. Here's how we overcame adversity:” • • • • Rapid Response and Adaptation, Innovation and Product Diversification, Employee Safety and Well-being, Community Engagement and Support, Balancing operational efficiency and customer satisfaction is crucial in the medical devices industry, where innovation and accuracy are paramount. Here's how they strive to strike that balance: Despite the challenges posed by the pandemic, Anil and his team's resilience, adaptability, and commitment to their • • • • • Streamlined Processes, Quality Control and Assurance, Customer-centric Approach, Continuous Innovation, Responsive Customer Support, When asked that as a leader in India's medical sector, they must have faced their share of challenges, Mr. Anil says, “Certainly! One instance where our team's resilience and ingenuity triumphed over adversity was during the early stages of the COVID-19 pandemic.”

healthcare professionals, researchers, regulatory authorities, and industry partners. Collaboration is essential for driving innovation, gaining market insights, and navigating regulatory requirements. connectivity, artificial intelligence, and other digital technologies into your products to enhance their functionality and value. *Stay Resilient and Persistent: Building a successful medical devices business requires resilience, perseverance, dedicated team and a long-term perspective. Be prepared to face challenges, setbacks, and regulatory hurdles along the way, but remain focused on your vision and committed to positively impacting healthcare. *Invest in Research and Development: Allocate resources to research and development to continuously innovate and improve your products. Invest in cutting-edge technologies, scientific expertise, and product testing to ensure your solutions are effective, reliable, and competitive. *Focus on Quality and Patient Safety: Prioritize quality and patient safety in everything you do. Implement robust quality management systems, adhere to industry best practices, and conduct thorough testing and validation of your products to ensure their safety and efficacy. Ensuring a Healthier Nation Looking ahead, Anil says their vision for Nihon Kohden's future is to continue driving innovation, expanding access to healthcare, leveraging digital transformation, fostering collaborative partnerships, upholding quality and regulatory compliance, empowering healthcare professionals, and driving thought leadership and advocacy. “By staying true to these principles, we will continue to make a significant impact on India's medical devices landscape and contribute to building a healthier and more prosperous nation,” he concludes. *Seek Funding and Support: Medical device development can be capital-intensive, so explore funding options such as grants, venture capital, or strategic partnerships. Leverage government schemes and incentives for startups in the healthcare sector to support your growth and development. *Embrace Digitalization and Technological Advancements: Embrace digitalization and leverage technological advancements to innovate in the medical devices space. Explore opportunities to integrate sensors, mission enabled them to navigate the crisis successfully. By leveraging their ingenuity, expertise, and collaborative spirit, they overcame adversity and contributed to the collective effort to combat COVID-19 and support India's healthcare system during a time of unprecedented need. needs and offer tangible benefits to patients, healthcare providers, or healthcare systems. *Prioritize Regulatory Compliance: Understand the regulatory landscape governing medical devices in India and international standards and regulations if you plan to export your products. Prioritize regulatory compliance from the outset to ensure that your products meet safety, efficacy, and quality standards. The Leader’s Advice Medical devices' is a niche of the Indian industry that demands constant innovation. For budding entrepreneurs who aspire to venture into this space, Anil suggests, “Guidelines and staying true to your vision, passion, team work and commitment to innovation, you can position yourself for success as a budding entrepreneur in the dynamic and rewarding field of medical devices in India.” He has several pieces of advice: *Collaborate with Stakeholders: Build relationships with key stakeholders in the healthcare ecosystem, including *Understand the Industry: Gain a deep understanding of the medical devices industry, including regulatory requirements, market trends, and unmet needs. Familiarize yourself with the challenges and opportunities unique to this space to inform your business strategy. By staying true to our principles, we will continue to make a significant impact on India's medical devices landscape and contribute to building a healthier and more prosperous nation. *Focus on Innovation: Innovation is key in the medical devices industry. Identify areas where there's a need for improvement or where existing solutions fall short. Develop innovative products or technologies that address these

Transforming the Medical Device Industry T The Design Phase: Building Reliability from the Ground Up he medical device industry is undergoing a significant transformation, driven by the need for enhanced reliability and safety in healthcare. As technology advances and patient expectations rise, ensuring the reliability of medical devices has become paramount. This revolution is not just about improving individual devices; it encompasses a comprehensive approach that includes design, manufacturing, regulatory compliance, and post-market surveillance. The journey toward reliability begins in the design phase. Engineers and designers must consider the intended use of the device, the patient population, and the clinical environment. Employing methodologies such as Failure Mode and Effects Analysis (FMEA) during the design process allows teams to identify potential failure points and implement design changes to mitigate risks. Understanding Reliability in Medical Devices Moreover, incorporating user feedback early in the design process is crucial. Engaging with healthcare professionals who will use the devices can provide valuable insights into practical challenges and usability issues. This collaboration can lead to designs that are not only reliable but also user- friendly, ultimately enhancing patient safety. Reliability in medical devices refers to the ability of a device to perform its intended function consistently and safely over time. This concept is critical, as any failure in a medical device can have dire consequences, including patient injury or death. Therefore, establishing a robust framework for assessing and ensuring reliability is essential for manufacturers and healthcare providers. Rigorous Testing and Validation The reliability of medical devices is influenced by various factors, including design, materials, manufacturing processes, and the environment in which the device operates. As such, a holistic approach to reliability must encompass all these elements, ensuring that devices are not only effective but also safe for patient use. 18 | www.ciolookindia.com Once a medical device has been designed, it must undergo rigorous testing and validation to ensure its reliability. This process typically involves a combination of bench testing, preclinical studies, and clinical trials. Each stage of testing serves a specific purpose in evaluating the device's performance and safety. The Reliability Revolution Aug, 2024 19 | www.ciolookindia.com Aug, 2024

Bench testing allows manufacturers to assess the device's functionality under controlled conditions, identifying any potential issues before it reaches the market. Preclinical studies, often conducted on animal models, provide insights into how the device will perform in a living organism. Finally, clinical trials involve human subjects and are critical for validating the device's safety and efficacy in real-world settings. enhance reliability. The integration of the Internet of Things (IoT) into medical devices allows for real-time monitoring of device performance and patient outcomes. This connectivity enables healthcare providers to receive alerts about potential issues, allowing for timely interventions. SUBSCRIBE TODAY Moreover, data analytics can be employed to identify trends and patterns in device performance, facilitating proactive maintenance and reducing the risk of failure. By leveraging these technologies, manufacturers can continuously improve their devices and enhance their reliability. Regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), require extensive documentation of testing results before granting approval for market release. This regulatory oversight ensures that only devices meeting stringent reliability standards are made available to healthcare providers and patients. The Role of Collaboration Ensuring the reliability of medical devices is a collective responsibility that involves manufacturers, healthcare providers, regulatory bodies, and patients. Collaboration among these stakeholders is essential for fostering a culture of safety and reliability in the medical device industry. Manufacturing Excellence: Ensuring Consistency The manufacturing process plays a vital role in the reliability of medical devices. Consistency in production is essential to ensure that each device meets the established specifications. Implementing quality management systems, such as ISO 13485, helps manufacturers maintain high standards throughout the production process. Manufacturers must engage with healthcare professionals to understand their needs and challenges, while healthcare providers must provide feedback on device performance and usability. Regulatory bodies must continue to adapt their guidelines to keep pace with technological advancements, ensuring that safety standards remain relevant. Additionally, advanced manufacturing techniques, such as additive manufacturing and automation, can enhance precision and reduce variability. These technologies allow for greater control over the manufacturing process, resulting in devices that are more reliable and consistent. Looking Ahead The reliability revolution in the medical device industry is transforming the way devices are designed, manufactured, and monitored. By prioritizing reliability at every stage of the device lifecycle, manufacturers can ensure that their products meet the highest standards of safety and efficacy. As technology continues to advance, the integration of digital solutions and collaborative efforts among stakeholders will be crucial in driving this revolution forward. Post-Market Surveillance: Continuous Improvement The reliability revolution does not end once a medical device is on the market. Post-market surveillance is critical for monitoring the performance of devices in real-world settings. Collecting data on device failures, adverse events, and user feedback enables manufacturers to identify potential issues and implement corrective actions. Stay in the known. Subscribe to CIOLOOKINDIA CIOLOOKINDIA Magazine www.ciolookindia.com Ultimately, the goal of the reliability revolution is to enhance patient safety and improve healthcare outcomes. By ensuring that medical devices are reliable and effective, we can build a future where patients receive the highest quality care, and healthcare providers can trust the tools they use to deliver that care. As the industry embraces this paradigm shift, the potential for innovation and improvement in patient care is limitless. Regulatory agencies also play a role in post-market surveillance, requiring manufacturers to report any adverse events associated with their devices. This ongoing monitoring helps ensure that devices remain safe and effective throughout their lifecycle. Get in print and digital on Embracing Digital Transformation The advent of digital technology is revolutionizing the medical device industry, providing new opportunities to 20 | www.ciolookindia.com LOOK Aug, 2024 I N D I A

Accurex Fostering Indian Healthcare Advances by Harnessing the Legacy of Trust and Quality Abhinav Thakur Managing Director Accurex Biomedical Pvt. Ltd. T the niche is Accurex Biomedical Pvt. Ltd. The company has won several accolades, including he Indian medical device industry has been transformed by the most reliable companies that provide advanced solutions and services. Driving Throughout his tenure at Miles India Ltd., which extended until 1984, he held pivotal roles within the organization, shaping his expertise and perspective. In 1984, he laid the foundation for Accurex. This venture, specializing in clinical biochemistry, pioneered enzymatic reagent kit –a sterile, pyrogen-free container holding a mixture of non- radioactive chemicals, including but not limited to complexing agents, reducing agents, stabilizers, or dispersing agents– manufacturing in India. A notable distinction was our self-sufficiency, producing everything in-house – from raw materials to finished products. • • Most Trusted Diagnostic Companies to Watch 2023 Top 5 Most Trailblazers Business Leaders Shaping the Modern Industry Furthermore, Accurex shines through its impressive Glassdoor and Google ratings and reviews. Among peer companies, it proudly holds the highest ratings and most positive reviews. These accolades are a testament to the unwavering foundation of integrity that it has built over the years. Mr. Anil Thakur's influence on Accurex was immeasurable. Tragically, he left us on 25th January 2004, yet his ideals and vision continue to steer our path. It's our commitment to his dream that propels Accurex towards leadership in the Asia-Pacific region. In an exclusive interview with CIOLook India, the firm’s Managing Director, Abhinav Thakur, candidly highlighted their impressive journey, achievements, and plans. Returning to India from the USA, I assumed the mantle of leadership to sustain the family legacy. My education in Biochemistry and Management at the University of California, Davis, along with a degree in Managerial Sir, as a pioneer in the Medical Devices industry, could you take us back to the beginning of your journey? What motivated you to step into this dynamic ecosystem? With a steadfast dedication to Mr. Anil Thakur's vision, we're poised to lead progress and innovation and secure a prominent role in the Asia-Pacific region. The saga of my entrepreneurship traces its roots back to a visionary, my father, Mr. Anil Thakur, a revered name in the diagnostic industry. Serving as the Founder and former Managing Director of Accurex, he brought to the table over 30 years of rich experience in diagnostics. He started his career in 1976 with Miles India Ltd., a notable US- based company in diagnostics. 22 | www.ciolookindia.com Aug, 2024

Accurex has emerged as India's most trusted Medical Devices company. Could you share the guiding philosophy that has propelled your organization's success? Economics and electives in biochemistry, fortified my foundation for this journey. Prior to Accurex, I briefly contributed to the California Diabetes Prevention Program under the Department of Health Care Services (DHCS). This stint illuminated the impact of modern lifestyle shifts on health. The rise of non-communicable diseases (NCDs) due to sedentary lifestyles and processed diets emerged as a pressing concern. By fostering a culture of continuous learning, we empower our team to drive innovation and achieve company success. As a leader in India's medical sector, your company has likely faced its share of challenges. Could you share an instance where your team's resilience and ingenuity triumphed over adversity? Trust is the cornerstone of our 39-year legacy. We’ve built a reputation for reliability, integrity, and ethical practices. This unwavering commitment has earned us the trust of our clients and positioned us as India’s most trusted medical device company. We prioritize quality, ethics, and customer satisfaction to deliver superior products that meet the evolving needs of the healthcare industry. The COVID-19 pandemic presented significant challenges. Our team swiftly pivoted to produce essential sanitizers. Through resilience, ingenuity, and tireless effort, we met the critical demand for sanitizers, supporting healthcare facilities and the community. This quick pivot to produce essential sanitizers in such a short time demonstrated our adaptability and commitment. It also showed our ability to embrace change and overcome adversity, reinforcing our leadership position in India's medical sector. My American background equips me with insights and skills that drive Accurex's growth. It's a fusion of my heritage and my international experience that fuels our dedication to revolutionizing the diagnostics landscape. The Medical Devices landscape is continually evolving. Please brief our audience about your firm’s USPs and how you are currently positioned as one of the best innovators. We're committed to realizing Mr. Anil Thakur's vision and ensuring that Accurex is at the forefront of progress and innovation. Medical Devices are a niche industry in India that demands constant innovation. What would be your advice to other budding entrepreneurs who aspire to venture into this space? Quality is the cornerstone of our nearly four decades of history. Our commitment to high standards results in exceptional batch-to-batch consistency. We are the only company offering external quality assurance and performance data sheets with every reagent kit. This transparency builds trust and positions us as a partner in our clients' success. Our focus on quality, consistency, and innovation has made us a leader in medical devices. To succeed in medical devices: exceptional value. Our partnership approach with customers ensures a seamless diagnostic journey. • • • Innovate relentlessly. Invest in research, quality, and regulatory compliance. Be agile and adaptable, like we were during COVID- 19. Build a strong, skilled team. Courage, innovation, and quality are essential for success. Your leadership style is often recognized as a driving force behind Accurex's achievements. Could you shed light on your approach to leadership and team building within the organization? Digitalization and technological advancements are crucial aspects of the modern Medical Devices ecosystem. How does your company integrate these principles into its core functioning and contribute to a technovative healthcare future? • • I wholeheartedly agree with Warren Buffett that integrity is a leader's cornerstone. It's the foundation for trust, sound decisions, and strong teams. I prioritize fostering a culture of integrity and ethical behaviour, which drives our company's success and sets us apart. Looking to the future, what is your vision for Accurex? How do you aspire to continue making a significant impact on India's Medical Devices landscape? Accurex Biomedical is committed to digital transformation. We leverage advanced technology in manufacturing, data analytics, and product development. Our digital solutions enhance product accuracy, efficiency, and quality. By providing real-time data and insights, we build trust with our clients. Our focus on research and development ensures that we deliver innovative medical devices that improve patient care. With a steadfast dedication to Mr. Anil Thakur's vision, we’re poised to lead progress and innovation and secure a prominent role in the Asia-Pacific region. This involves harnessing the legacy of trust and quality we've nurtured over 39 years to expand our operations and offerings. The essence of Medical Devices lies in innovation, disruptions, accuracy, and enhancing detection, diagnosis, and treatments. How does your company strike a balance between operational efficiency and customer satisfaction? The workforce is the cornerstone of any successful organization. How does your company foster a culture of growth, skill development, and empowerment among its employees? Accurex aims to become a global leader in advanced diagnostics. We will invest heavily in research and development to create innovative solutions addressing evolving healthcare needs. By expanding our international presence and upholding our commitment to quality and integrity, we will improve healthcare outcomes and set new industry standards. Accurex Biomedical is dedicated to delivering innovative, accurate, and reliable diagnostic solutions. We prioritize quality, efficiency, and customer satisfaction. Our commitment to research and development drives cutting- edge products like external quality assurance kits and performance data sheets. We optimize operations through advanced manufacturing and lean principles to deliver Our employees are our greatest asset. We invest in their growth through leadership development programs, comprehensive training, and dedicated support. 25 | www.ciolookindia.com Aug, 2024 Aug, 2024

Dynamics Ltd: n India's developing healthcare industry, Yolo Dynamics Ltd is a leading innovator committed to revolutionizing medical devices through innovative solutions and untiring quality standards. The Most Reliable Medical Device Companies in 2024 Yolo Revolutionizing Medical Devices Through Innovative Solutions I Your company has emerged as India's most trusted Medical Devices company. Could you share the guiding philosophy that has propelled your organization's success? Rajesh Parmar President and CEO Yolo Dynamics Ltd President and CEO Rajesh Parmar's visionary leadership has enabled the company to continuously set new standards for quality, dependability, and affordability in the international medical device market. YOLO Dynamics is guided by a commitment to creativity, quality, and accessibility. We invest in R&D to develop innovative medical devices, including disposables, implants and surgical robots. Yolo Dynamics has created revolutionary medical innovations that are improving patient outcomes and ornamental healthcare delivery globally by applying the newest technologies, forming strategic partnerships and upholding a customer-centric approach. Our philosophy is built on collaboration with research institutions to enable continuous learning and improvement. We employ disruptive marketing strategies to ensure our cost-effective solutions reach those most in need, with the MPure brand reflecting our dedication to raising global health standards through advanced, affordable medical devices. In an exclusive interview with CIO Look India, Rajesh shared an interesting story of Yolo Dynamics’ success. Below are the snippets of the interview: The MPure brand represents our global ambitions to provide advanced solutions worldwide. Expanding manufacturing globally enhances our supply chain and delivery. These unique strengths position Yolo Dynamics as a leading innovator in improving global healthcare outcomes. Please brief our audience about your firm’s USPs and how you are currently positioned as one of the best innovators. As a pioneer in the Medical Devices industry, could you take us back to the beginning of your journey? What motivated you to enter this dynamic ecosystem? We have secured patents and aim to establish MPure as a global brand through partnerships with research organizations advancing medical technology. Yolo Dynamics stands out through cutting-edge R&D, disruptive marketing, collaborative partnerships, quality compliance, global reach with MPure and strategic manufacturing expansion. We invest heavily in innovation to launch state-of-the-art medical devices. Yolo Dynamics leads in medical devices, focusing on innovation and excellence. We develop medical disposables, implants and surgical robotics. Our marketing model is disruptive, making healthcare solutions affordable. Your leadership style is often recognized as a driving force behind your company's achievements. Could you explain your approach to leadership and team building? Our cost-effective model ensures broad access, especially in underserved markets. We partner with top institutions to rapidly produce revolutionary technologies. Our products adhere to strict standards, establishing us as a trusted supplier. At Yolo Dynamics, our empowering leadership cultivates trust, responsibility and pride. Our collaborative culture promotes open communication and diverse perspectives to drive continuous innovation. We have secured patents and aim to establish MPure as a global brand through partnerships with research organizations advancing medical technology. 26 | www.ciolookindia.com Aug, 2024 27 | www.ciolookindia.com Aug, 2024

Our customer-centric approach involves gathering feedback to inform product development and refinement. Rigorous quality control and strategic global expansion of manufacturing and distribution enable cost optimization and timely delivery. We invest in team skills and knowledge to enhance operational efficiency, productivity, and customer service. Advanced technology integration streamlines operations, optimizes resource utilization and improves manufacturing accuracy. Our proactive customer support provides technical assistance, training, and after-sales service. Thorough market research allows us to identify and address unmet needs with innovative, cost-effective solutions. By combining these strategies, Yolo Dynamics delivers reliable medical devices that enhance healthcare while maintaining customer trust and satisfaction. We have developed a cutting-edge product line tailored to market needs through extensive research. Thorough marketing research has also allowed us to create independent channels that effectively reach our target audience. Support ethical standards for long-term success. By focusing on these areas, entrepreneurs can navigate complexities and make a meaningful healthcare impact. How does Yolo Dynamics leverage digitalization and technology to drive innovation in healthcare? At Yolo Dynamics, we leverage digitalization and technology to drive healthcare innovation. Our R&D uses big data, ML, and AI for precise solutions. Smart manufacturing and IoT enable real-time monitoring and efficient production. How do you aspire to continue making a significant impact on India's Medical Devices landscape? Additionally, we have chosen the right technology and business development partners, overcoming challenges and achieving sustained growth. This resilience and ingenuity ensure that Yolo Dynamics continues to deliver advanced medical devices and maintain our leadership position in the dynamic industry. We invest in employee development and enhancing expertise. We foster experimentation and reward innovative thinking, driving groundbreaking devices. Embracing diversity enhances problem-solving and global product development. Yolo Dynamics envisions becoming a global leader in medical devices by relentlessly innovating and expanding our product portfolio to address emerging healthcare needs. We aim to enhance our global presence through manufacturing setups and strategic partnerships, ensuring efficient distribution and access to advanced technologies. Digital twin technology optimizes devices and processes, supporting telemedicine and remote monitoring. Our products integrate with EHRs for data accuracy and accessibility, with robust cybersecurity. We celebrate successes and acknowledge contributions, fostering a positive workplace. Global research collaborations bring fresh perspectives, keeping us at the forefront. What would be your advice to other budding entrepreneurs? We will foster collaborative research with students and institutions to drive innovation despite challenges like securing funding. We are committed to providing cost-effective solutions through a disruptive marketing model and efficient manufacturing. We invest in digital training to promote effective use and innovation. Sustainable practices minimize environmental impact through optimized resource utilization. Collaborative digital platforms facilitate global partnerships, enhancing collective innovation. This approach ensures we deliver state-of-the-art medical devices that improve patient care and set new benchmarks. As an aspiring entrepreneur in India's medical devices sector, I focus on continuous R&D, understanding regulations, identifying market gaps, building strategic partnerships, investing in quality, adopting a customer- centric approach, leveraging technology, securing adequate funding, staying agile and committing to ethical practices. This approach has enabled Yolo Dynamics to build a strong, innovative, and collaborative team that drives success and industry leadership. Promoting sustainability, investing in talent, and maintaining high ethical standards, we aspire to significantly impact India's medical device landscape. By leveraging India's healthcare heritage and staying agile, we aim to improve outcomes and set new industry benchmarks. At Yolo Dynamics, how do you balance innovation, operational efficiency and customer satisfaction in the medical devices industry? Could you share an instance where your team's resilience and ingenuity at Yolo Dynamics triumphed over adversity in the Indian medical sector? Prioritize innovation to meet evolving healthcare needs. Familiarize yourself with regulations for compliance. Conduct research to develop differentiated products addressing unmet demands. Forge collaborations to enhance development and reach. At Yolo Dynamics, we balance innovation, efficiency, and customer satisfaction to deliver transformative medical devices. We prioritize continuous innovation and leverage the latest technologies to ensure our products meet the highest standards. Yolo Dynamics has faced significant R&D investment challenges in India's medical sector. However, our innovation-driven DNA has enabled us to triumph over adversity: Implement quality control to build trust. Tailor offerings to customer needs. Embrace digitalization to drive innovation and improve outcomes. Ensure robust financial planning. Adapt strategies to industry changes. 29 | www.ciolookindia.com 28 | www.ciolookindia.com Aug, 2024 Aug, 2024

Ensuring Reliability in Medical Devices A s medical technology continues to advance at a rapid pace, the importance of ensuring the reliability of medical devices has become increasingly critical. From the initial stages of design and development to the final stages of clinical use, every step in the lifecycle of a medical device must be carefully considered to ensure patient safety and optimal performance. Let us explore the key factors that contribute to the reliability of medical devices, from bench to bedside. The Critical Role of Reliability In the healthcare domain, reliability is not just a preference; it’s a mandate. A malfunctioning medical device can have catastrophic consequences, ranging from patient discomfort to life-threatening complications. The onus is on manufacturers to guarantee the safety and efficacy of their products throughout their lifecycle. Design and Development From Bench to Bedside The foundation of a reliable medical device begins with its design and development. During this phase, engineers and researchers must consider a wide range of factors, including the intended use of the device, the environment in which it will be used, and the potential risks associated with its use. Failure Mode and Effects Analysis (FMEA) is a crucial tool in this process, as it helps identify potential failure modes and their consequences, allowing for the implementation of preventive measures to mitigate these risks. 30 | www.ciolookindia.com Aug, 2024 31 | www.ciolookindia.com Aug, 2024

Clinical Use and Maintenance Another important aspect of the design and development phase is the selection of materials and components. Medical devices must be constructed using materials that are biocompatible, durable, and resistant to wear and tear. Additionally, the components used in the device must be carefully chosen to ensure compatibility and minimize the risk of failure. Once a medical device has been manufactured and approved for clinical use, it is essential that healthcare providers follow established protocols for its use and maintenance. This includes proper training for healthcare providers on the device's operation and maintenance, as well as regular inspections and preventive maintenance to ensure the device's continued reliability. Rigorous Testing and Validation The path to a reliable medical device begins with meticulous design and development. Advanced simulation tools and prototyping techniques are employed to assess device performance under various conditions. Once the design and development phase is complete, medical devices must undergo rigorous testing and validation to ensure their reliability. This process typically involves a combination of bench testing, animal studies, and clinical trials. Bench testing allows researchers to evaluate the device's performance under controlled conditions, while animal studies and clinical trials provide valuable information about the device's safety and efficacy in real-world settings. In the event of a device failure or malfunction, it is critical that healthcare providers report the incident to the appropriate authorities, such as the FDA in the United States. This information can be used to identify potential safety issues and implement corrective actions to prevent future incidents. The Road Ahead Ensuring the reliability of medical devices is a complex and multifaceted challenge that requires a comprehensive approach that spans the entire device lifecycle. From the initial stages of design and development to the final stages of clinical use and maintenance, every step must be carefully considered to ensure patient safety and optimal performance. During the testing and validation phase, it is essential to collect and analyze data on the device's performance. This data can be used to identify potential failure modes and optimize the device's design. Statistical analysis techniques, such as reliability prediction and Weibull analysis, can be used to estimate the device's reliability and identify areas for improvement. By implementing robust quality control measures, conducting rigorous testing and validation, and following established protocols for use and maintenance, healthcare providers can help ensure that medical devices remain reliable and effective throughout their lifetime. Additionally, by reporting incidents of device failure or malfunction, healthcare providers can contribute to the ongoing improvement of medical device reliability and safety. Manufacturing and Quality Control The manufacturing process is a critical stage in ensuring the reliability of medical devices. During this phase, strict quality control measures must be implemented to ensure that each device meets the required specifications and is free from defects. This includes regular inspections, testing, and documentation to ensure that the device is manufactured in accordance with established protocols. As medical technology continues to advance, the importance of ensuring the reliability of medical devices will only continue to grow. By working together to implement best practices and prioritize patient safety, healthcare providers, researchers, and manufacturers can help ensure that medical devices remain a reliable and effective tool in the fight against disease and injury. One of the key challenges in the manufacturing of medical devices is the need to maintain consistency and repeatability across multiple production runs. This requires the implementation of robust quality control systems, such as statistical process control and design of experiments, to identify and eliminate sources of variation. 32 | www.ciolookindia.com Aug, 2024

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The Most Reliable Medical Device Companies in 2024

The Most Reliable Medical Device Companies in 2024

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