UnivLabs - Medical device startup | Fusion - WeRIndia

India has been known historically for its achievements in medicine, ranging from its natural, plant-based physical cures to its world-renowned cures for psychological issues. Even today, India is a popular medical tourist destination.

However, despite this, about 80% of medical equipment in Indian hospitals is imported from other countries. These imports are incredibly expensive, with an import duty of 2.5%, and heavy maintenance charges that can build the price to lakhs of rupees.

The patients often have to bear the weight of these expenses, making health treatment all the more expensive for people.

Now, noticing the need for change in the medical sector, Sunil Singh founded UnivLabs, a startup dedicated to working on a range of medical equipment and accessories. Their core focus areas are invasive surgeries, such as laparoscopy and endoscopy, and diabetes management.

Included in their startup portfolio is robotic surgery suite, insulin patch pump, and endoscope medical devices. Sunil says that the key mantra of UnivLabs is designing quality products for the sector, both inside and outside.

The startup had a difficult task from the beginning, being set up against global medical giants. However, UnivLabs is winning, with their endoscope device earning them plenty of revenue.

With their endoscope device being a success, UnivLabs is continuing to develop their diabetes management device, with the hope that it will be just as much of a success as the endoscope.

Their Insulin Pump Patch Project has received a government grant of ₹ 48 lakh from the Biotechnology Industry Research Assistance Council (BIRAC).

Additionally, the startup received a grant of ₹ 3 lakh from Electropreneur Park after incubation, giving them even more money to help ensure the quality of their products.

In the future, UnivLabs wants to complete their current projects and to continue to make quality products for the medical sector, in the hope of bringing change to the Indian medical scene.

Image Reference: Univlabs