It is often said that the radiotherapy and radiology space is dominated by the presence of companies like US based Variant medical Systems and Sweden based Elekta. Now there is another firm that is making its presence felt and it is this Panacea Medical Technologies founded by one Mr GV. Subhrahmanyam or GVS
According to GVS his company is the only medical equipment manufacturers in the entire Asia and they have great focus in radiation therapy. It is interesting to know that that this firm is 17 years old and since the year 2010 had installed its machines in as many as 55 Indian hospitals.
The total revenue now stands at 28 crores and the initial days of struggle when the co-founders left are a thing of past now. The determination to succeed and hard work had made this Panacea firm very popular now. It must be noted that the first product of this company named Brachytherapy for treatment of cancer did not do well due to some issues regarding the radioactive isotopes being scrapped by regulators all over. The next product Bhabhatron got great support from Bhabha Atomic Research Centre or BARC and after nearly two decades this Panacea had got great name and fame as the machine was given to Vietnam by IAEA as a symbol of peace us of atom.
The great news now is GVS is planning to take Panacea public by the year 2021 and targets 1000 crore revenue in the future. Superb news!!
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