- The company will lead the Healthcare Impact Track and focus on projects that deliver technology-enabled solutions in India
MUMBAI, India, April 5, 2018 : Cyient, a global provider of engineering, manufacturing, geospatial, networks, and operations management services to global industry leaders, announced a partnership with Xynteo, an international advisory firm. As a partner organization in India2022, a business-led coalition committed to creating a new model of growth by the 75th year of India’s independence, Cyient will lead the Healthcare Impact Track. As part of the track, Cyient will incubate and scale multiple projects aimed at delivering technology-enabled healthcare solutions, primarily focused on the diagnostic space in India.
Diagnostic tests provide the basis for medical decision-making and therefore have a substantial impact on the continuum of care. The early and accurate diagnosis helps reduce the burden of disease on the overall health ecosystem: the patient gets treatment earlier in the disease stage, the healthcare infrastructure is utilized more efficiently, and the overall cost to both patient and system is reduced.
While there is a clear case for timely diagnostics leading to better preventive care, this segment remains grossly under-invested in India. The early disease detection programs account for only 0.1% of the total healthcare spend. A mere 1% of the total healthcare spend is allocated for information, education, and counseling programs. Limited affordability and access to quality medical services further complicate disease management. In numerous cases, despite having access, the adoption of low-cost medical technology has not scaled due to inherent biases among providers and patients.
Recognizing the need of the hour, the Healthcare Impact Track is working towards the following objectives:
- Developing high-quality, technology-enabled, and patient-centric healthcare solutions
- Establishing innovative business models that will help maximize the reach of these solutions through:
- Increased accessibility: Ensure people from all demographic and geographic backgrounds have access to the solutions
- Increased affordability: Reduce the costs of diagnostic care solutions to make it affordable to the maximum number of people
Krishna Bodanapu, Managing Director & Chief Executive Officer, Cyient, said, “It is an honor to be part of the India2022 Coalition. As leader of the Healthcare Impact Track, Cyient’s mission is to deliver disruptive medical technology that brings a positive and significant change in diagnostic care, while minimizing cost and maximizing reach through innovative business models. As such, we are committed to collaborating successfully with creative minds from Xynteo, other Coalition partners, and leading healthcare organizations to advance new growth models for India and work towards bringing affordable, yet high-quality and technology-driven healthcare solutions to the Indian market.”
Brian Wyatt, Senior Vice President, Medical Technology and Healthcare, Cyient, said, “Improved access to affordable healthcare will transform lives. We believe collaboration among healthcare stakeholders and a cross-pollination of ideas across industries can play a pivotal role in addressing the current challenges faced by the industry. Initiatives like India2022 will help facilitate and nurture these collaborations to overcome barriers to growth.”
Subhashini Chandran, Managing Director, Xynteo India, said, “Xynteo is a platform for galvanizing leaders and catalyzing ideas, and fusing them into new projects for new growth. We are bringing together talent, ideas, and capital to accelerate projects in India. Experts from each of the India2022 Coalition partner organizations work collaboratively with Xynteo teams, to develop projects in their area of focus. We are privileged to have Mr. Krishna Bodanapu and Mr. Brian Wyatt as part of the India2022 Executive Committee.”