I
n 2012, Siraj Dhanani, a successful
entrepreneur, healthcare
professional and active angel met
A Vijayrajan, Head of Product
Development at GE Medical
Systems at an event where they bonded
over their common goal of using their
experience in the pharma and medical
technology sectors to create products
for the needs of emerging markets. A
year later in 2013, they were joined
by Dr Jagidish Chaturvedi, an ENT
expert, making the trinity of business,
technology and medical leadership
complete. The rest they say is history!
Their motivation was to build a medtech
ecosystem and create affordable medical
devices that have been designed,
engineered and priced for the Indian
market. And have the succeeded in
their mission yet? So far, the product
development at InnAccel, the company
founded by them surely gives us that
confidence. While the outcomes at
technology driven companies doesn’t
happen overnight, InnAccel has
delivered due to a realistic business
model that addresses know but least
bothered medical complications.
As per founders, the business model
of InnAccel is to invest time, expertise
and money in their projects with a
five-year view, and generate long-term
returns from the portfolio of assets
(equity stakes in startup companies and
wholly-owned products from internal
development) from 2020 onwards. The
30-member team is working towards
global leadership in medtech innovation
by addressing the needs in emerging
markets by 2025. At the moment,
company has developed 3 products for
which it has filed patents as well.
SinuCare- the reusable device for
Chronic Rhino Sinusitis or CRS
One in eight people or 150 million suffer
from CRS in India and 30 million (20-
25%) of all CRS treatments fail within
six months of medical therapy, requiring
a surgery to be performed. The Indian
market opportunity is worth about
$250 million and the global market
opportunity is about $1 billion.
The company has developed a low-
cost (0.25x global products) sinuplasty
system for in-office paranasal sinus
dilation in self-pay patients with
unmanaged CRS. SinuCare is an
affordable balloon sinuplasty system
with some key differentiators.
“We have made majority of the
components reusable. We have a robust
system where 1 ba