Frost & Sullivan’s much-anticipated 4th Annual India Healthcare Excellence Awards 2012, acknowledging champions of the industry, was held in Mumbai last evening. These coveted Awards recognized innovative growth strategies and solutions adopted by top companies in the healthcare industry for 2011-12. Over the years, these Awards have become an industry benchmark and are attended by the who’s who in the healthcare industry.
The Indian healthcare industry has been on a growth trajectory and is expected to grow at a compound annual growth rate (CAGR) of 10-12 percent over the next five years. Contributory factors include rise in population, Government health initiatives, medical tourism, growth in health insurance, increase in lifestyle diseases, high disposable incomes, and overall development in Tier II cities across India. These factors are also promoting new and innovative healthcare models like asset-light hospitals, day-care models, single specialties, low-cost hospitals, wellness, retail healthcare models, and innovations across pharma and medical technology space. It has become vital for healthcare companies and consumers to stay abreast of these innovative solutions and companies working to create them. Frost & Sullivan’s Healthcare Practice, through its Annual India Healthcare Excellence Awards, identifies, studies, and acknowledges relevant contributions of such companies.
This year, Frost & Sullivan honored Dr. Habil Khorakiwala, Chairman, Wockhardt Limited, with a special Lifetime Achievement Award. Dr. Khorakiwala has made an immense contribution toward transforming the Indian pharmaceutical and healthcare scenario. His pioneering spirit and vision led to establishment of the Wockhardt Group, which has burgeoned into India’s leading research-based global healthcare enterprise; with relevance in fields of pharmaceuticals, biotechnology, nutraceuticals, dermato-cosmeceuticals, cardiology, along with establishment of a chain of advanced super speciality hospitals.
Sandeep Sinha, Director, Healthcare & Life Sciences, Frost & Sullivan, South Asia & Middle East, stated, “In our annual Healthcare Awards, we utilize the opportunity to choose and recognize an individual whose singular contribution has made a positive impact not only on the industry, but also on society at large. While the Corporate Awards are identified by our team and ratified by an eminent panel, the Lifetime Achievement Award is conferred by Frost & Sullivan on thought leaders who have dedicated themselves toward addressing India’s pertinent healthcare challenges, making an indelible impact in this field.”
“This year, we have added new Award categories in Healthcare Delivery Services like Dental, Dialysis, and Healthcare Delivery across different Revenue Sizes. New categories in Medical Technology include Wound Management, Ophthalmic Implants, Sleep Solutions, and Sterilization Management. For Biotech and Pharma section, the new categories are Fastest-Growing Indian International Pharmaceutical Company, Fastest-Growing Indian Biotechnology Company, Doctors’ Choice Awards like Oncologist`s Award for the Best Oncology Company, Diabetologist`s Award for the Best Diabetology Company, and Paediatrician`s Award for the Best Vaccine Company. All these new categories assume great importance and relevance in the current Indian healthcare scenario,” added Mr. Sinha.
The Award process was launched in May, with nominations invited from healthcare companies across India. Frost & Sullivan followed a rigorous methodology to shortlist and select companies making a difference in the healthcare industry in India. A detailed evaluation of each shortlisted company was carried out on the basis of actual market performance indicators, which were measured on pre-decided parameters.
Some variations on specific measurements may apply to certain categories. These findings were then presented to esteemed jury members, comprising leading doctors, technologists, CEOs, and investors, who arrived on the most deserving companies in each category.
The Media Partners supporting this edition of the Awards were BioSpectrum India, Healthcare Executive, Healthcare Radius, LifeScience India, Medical Buyer, Modern Medicare, Pharma Focus Asia, Pharmaceutical-tech.com, Pharma Bio World, Pharma Quest, and The Pharma Review.
The Champions of 2012 are:
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Caroline Lewis, Corporate Communications – South Asia, Frost & Sullivan, +91 98217 37935