Case for Mid-term Exam.pdf - FORUS HEALTH SCALING UP THE BUSINESS In April 2013 K Chandrashekhar the co-founder and chief executive officer(CEO of Forus

Case for Mid-term Exam.pdf - FORUS HEALTH SCALING UP THE...

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FORUS HEALTH: SCALING UP THE BUSINESS In April 2013, K. Chandrashekhar, the co-founder and chief executive officer (CEO) of Forus Health (Forus), sat in his office in Bangalore, India reviewing the company’s performance during the last financial year. Despite initial challenges, Forus had mana ged to sell more than 100 of its patented “3nethra” opht halmic devices since inception in January 2010. A quarter of these sales came from unanticipated export orders and the rest from hospitals and clinics in the domestic market. FORUS HEALTH: THE COMPANY In early 2005, Chandrashekhar and Dr. Shyam Vasudev, who were colleagues at Philips India Limited, happened to listen to a passionate presentation by Dr. Aravind, the administrator of the world-famous Aravind Eye Hospital in Madurai, on its missionary efforts to “eliminate needless blindness.” A poignant do cumentary, “Infinite Vision,” which followed the talk, portrayed the plight of millions of blind poor in the remote villages of the developing world. Vasudev and Chandrashekhar were visibly moved by the powerful message of the documentary: if soft drinks could reach the blind, why could not eye care? The duo pondered how they could contribute to the cause of solving health problems in countries such as India. This thought led to the establishment of Forus. Chandrashekhar and Vasudev were reasonably sure that the product concept of a versatile ophthalmological device, which would combine the basic functions presently carried out by different devices, would be technically viable. They decided to name the device 3nethra due to its multi-functionality that included imaging of the front and back of the eye, generating a report on the patient through a connected computer and sending the image and report to a specialist ophthalmologist through telemedicine. The device was conceived to be not only cost-effective but also more rugged and portable than the imported brands currently in use. They legally registered the company as Forus Health Private Limited in January 2010, with an investment of INR10 million and with Chandrashekhar as the founder and CEO. The word “forus” signified that the company would be “for us — my community and me.” Vasudev joined Chandrashekhar in April 2010 as the chief technology officer (CTO) and president, along with a team of five engineers, some of whom had worked on the prototype of 3nethra with him even before he joined the company officially.
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