MR. SANJAY JHA
Co-Founder Colmed Pvt. Ltd

Sanjay Jha hails from a humble background. He was born and brought up in Darbhanga, Bihar and studied mostly in government school and college till class 12th before he joined IIT Kharagpur in 1992 for 5 yrs integrated masters in Exploration Geophysics. He opted for career in software programming after graduating in 1997. He started his career with Ramco Systems and then shifted his base to US where he worked with Liquid Audio (pioneers in music digital distribution with ipod like devices) and then GE Healthcare. It was his tenure at GE Healthcare that he had the opportunity to get exposure to system engineering, manufacturing and R&D. He feels proud to see some of his work done before 2006 on GE Lightspeed VCT CT scanner still available on current generation machines. 


Subsequently, he did his MBA at INSEAD (France) and came to J&J Medical India. And spent almost 5 years in J&J India in different sales and marketing senior management roles before getting into start-up life with Colmed (an E-commerce platform for medical devices) being his second start-up.

Game changers in Healthcare Sector

At Colmed (Collateral Medical) , he along with fellow promoter started with building first medical device focussed E-commerce platform . Unlike most of other players they took the path of working closely with Medical device manufacturers very early. Currently Colmed is partners with majority of large multinationals and significant number of domestic players and make their products available at the right price with focus on tier 2 and tier 3 cities of India. Colmed has supplied medical devices to over 1000 resellers and to over 75,000 unique customers across most of the pin codes in India.

The Driving Force

He is driven by the satisfaction he gets by contributing towards bringing down the cost of treatment in his own way. On bigger picture, healthcare costs for patients is climbing up day by day and he does his small bit in driving that cost down by increasing the efficiency of supply chain and aggregating medical device demand. While on day to day, to take an idea, break it in small executional pieces and then enabling his team to execute it makes his day better.

Interesting anecdote with this startup

He finds each and every day at the startup a new day filled with new learnings. As it happens with any startup, the founding team faced lots of challenges initially, but somehow they were able to figure out a way to rise above those challenges. Early on, they were advised to take marketplace route, but they always believed in inventory based model. Whereas marketplace route is preferred by many investors, but his market research precipitated the fact that there is hardly any marketplace being even EBITDA positive. Being the old school, they believed in business making money to survive and not-burning cash. Drawing parallels, they observed Cloudtail having positive EBITDA while Amazon burning more than 6000 crore in India in an year. They realized that for 1000cr annual turnover inventory requirement is hardly 100cr. Moreover, they relied on the fact that healthcare is an area where quality needs to be of paramount concern and with marketplace quality concerns are rampant. So, they stayed on the inventory led path, which meant slower but profitable growth for the startup.  

Setback moment

Mr Sanjay had another startup before Colmed, specializing in analytics space, where he worked extensively on energy forecasting using machine learning. After creating a wonderful product for year and half and successful pilot he had to shut the shop due to his lack of understanding of systems in govt sector leading to extreme delay procedures, permissions and protocols leading to delayed results. The experience taught him a lot about what not to do.

Eureka moment

While their online business soared newer highs, the team Colmed struggled in direct supplies to small hospital segment in tier2/tier3 due to their low per order size, payment challenges and in many cases need of urgent delivery. Thus while significant volume of business was gained but it was an EBITDA negative business. This forced them to strategise innovatively to sort out the challenge with limited resources. They started focusing on resellers, who were only one level above the hospitals in this prevailing multi-tier distribution systems in tier2/tier3 cities. This step worked wonders for them and currently they are able to drive more than 80% of their sale from tier2/tier3.

Funding so far/awards/associations and affiliations

So far Colmed has received over 5m USD funding through equity and debt.
He, along with other founders of Colmed were featured on cover page of silicon india, as one of the best healthcare startups.
 
3 messages for aspiring and budding entrepreneurs 
 
“Execution is the key to success, so don’t get stuck with good/bad idea, if you have assumptions try it and find it out if it works in limited scale.”
 
“Don’t be afraid of failure. My failure from my first startup taught me a lot.”
 
“Don’t stay away from people of who challenge you. Would be great if you have a mentor who can tell you that you are wrong. It makes you think harder and might save you significant valuable time and money.”


Vision for next 5 years

At Colmed, he wants to first increase the reach to at least 20,000 resellers in Tier2/Tier3 market. Then he wants to build further on his tech platform to help them streamline their demand planning, inventory management and provide them easy access to financing by partnering with Fintechs. On the product side, he wants to build private label business which already has started doing very well for them, and create a sustainable above 12% EBITDA business.
 
Message to readers through Voice of Healthcare Platform
 
“When life is comfortable then it might get boring, so get out of your comfort zone and make your life more exciting.
We all have many weaknesses, so why not focus on strengths and get the best out of ourselves...!!!!”

 

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MR. SANJAY JHA
By: - 2020-08-08 22:42:23

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Serum Institute clarifies on report of covid vaccine launch in India in 10 weeks..

By: LiveMint-25 Aug, 2020

Takeda to sell Japan consumer health unit valued at $2.3 billion to Blackstone ..

By: Junko Fujita-25 Aug, 2020

Survey finds most Britons reject COVID-19 'vaccine nationalism' ..

By: Reuters-25 Aug, 2020

U.S. FDA authorizes use of blood plasma to treat coronavirus ..

By: Nandita Bose, Aram Roston-25 Aug, 2020

Coronavirus Updates: Manohar Lal Khattar tests COVID-19 positive, asks colleague..

By: FP Staff-25 Aug, 2020

Study Adds to Evidence That Odor-Sensing Cells in the Nose Are the Key Entry Poi..

By: Newsroom-24 Aug, 2020

Covid-19 vaccine update: Pfizer, BioNTech release data on phase 1 trials ..

By: FE Online-24 Aug, 2020

Covid-19 vaccine update: Cuba, N Korea, Taiwan join the Coronavirus vaccine race..

By: FE Online-24 Aug, 2020

COVID-19 recovery rate reaches 74.69 per cent, case fatality dips to 1.87 per ce..

By: PTI-24 Aug, 2020

COVID-19 caseload in India crosses 30-lakh mark ..

By: PTI-24 Aug, 2020

Factbox: Latest on the worldwide spread of coronavirus..

By: Reuters-24 Aug, 2020

India crosses crucial milestone of testing over 10 lakh people in a day ..

By: PTI-23 Aug, 2020

COVID-19 diagnostic test: Saliva-based tests could be a better alternative to sw..

By: FE Online-23 Aug, 2020

COVID-19: India adds nearly 70,000 cases in 24 hours; tally nears 30-lakh mark; ..

By: FE Online-23 Aug, 2020

Novartis immuno-oncology drug candidate fails skin cancer trial ..

By: Reuters-23 Aug, 2020

US FDA-approved ointment found to treat, kill viral infections including COVID-1..

By: PTI-23 Aug, 2020

Trump says without proof that FDA 'deep state' slowing COVID trials ..

By: Reuters-23 Aug, 2020

Coronavirus Updates: Maharashtra reports 14,492 new COVID-19 cases, 326 deaths; ..

By: FP Staff-21 Aug, 2020

Russia's 'Sputnik V' COVID-19 vaccine to be tested on 40,000 people: TASS cites ..

By: Reuters-21 Aug, 2020

Asia Today: India has record high of 69,000 more infections..

By: AP-21 Aug, 2020

Endless first wave: how Indonesia failed to control coronavirus ..

By: Reuters-21 Aug, 2020

Diagnostics firms eye consolidation ..

By: livemint-21 Aug, 2020

Accuracy Problems with Widely Used Coronavirus Test, US Health Officials Warn..

By: Associated Press-21 Aug, 2020

Coronavirus is Not Ready to Budge, So When Can Children in India Go Back to Scho..

By: N C Satpathy-20 Aug, 2020

What Is Digital Health ID? Here’s What You Need to Know About Government&r..

By: Jagmeet Singh-20 Aug, 2020

How Much Vitamin C Is Too Much Vitamin C? Expert Reveals..

By: Rupali Dutta-20 Aug, 2020

One in four Indians could have been infected with the coronavirus, lab head says..

By: Savio Shetty-20 Aug, 2020

Roche, Regeneron link up on COVID-19 antibody cocktail..

By: Reuters-19 Aug, 2020

Explainer: World Health Organization's struggle for a global COVID-19 vaccine pl..

By: Reuters-19 Aug, 2020

Australia hails vaccine deal as virus surge abates..

By: Reuters-19 Aug, 2020

COVID-19: Govt to review guidelines to see if on-demand Coronavirus testing can ..

By: FE Online-19 Aug, 2020

Coronavirus vaccine update: India begins Phase 3 human trials of COVID19 vaccine..

By: FE Online-19 Aug, 2020

Immune response after mild COVID-19 is prolonged; psychiatric risk revealed..

By: Reuters-19 Aug, 2020

Recovered cases 2.93 times the number of active Covid-19 cases in country: Govt..

By: livemint-19 Aug, 2020

Study links COVID-19 to rise in childhood type 1 diabetes..

By: Reuters-19 Aug, 2020

WHO blasts 'vaccine nationalism' in last-ditch push against hoarding..

By: Reuters-19 Aug, 2020

Novavax begins mid-stage study of COVID-19 vaccine in South Africa..

By: Reuters-18 Aug, 2020

COVID-19 vaccine: Do vaccines need to be 100% effective? Fauci says otherwise..

By: FE Online-18 Aug, 2020

Russia to roll out vaccine by end of August, 1 in 2 Russian medics distrust it..

By: Financial Express-18 Aug, 2020

Testing of CanSino's COVID-19 candidate vaccine begins in Russia..

By: Reuters-18 Aug, 2020

COVID-19 warriors will be first to get vaccine post development, says Health Min..

By: PTI-18 Aug, 2020

Covid-19, Cold, Flu or Allergy: Know the symptoms..

By: HT?Correspondent Hindustan Times-17 Aug, 2020

Eat Right, Smile Bright - Acidic Food and Beverages: Impact on teeth..

By: FP Studio-17 Aug, 2020

Coronavirus Updates: Karnataka reports 7,040 new cases; health minister B Sriram..

By: FP Staff-17 Aug, 2020

Health ID pilot programme to start with 6 Union Territories..

By: FE Online-17 Aug, 2020

Mexico needs 200 million COVID-19 vaccine doses; shots could start in April..

By: Reuters-17 Aug, 2020

Factbox: Latest on worldwide coronavirus spread..

By: Reuters-17 Aug, 2020

The Latest: S. Korea reports largest virus jump since March..

By: The Associated Press-16 Aug, 2020

PM Modi announces launch of National Digital Health Mission..

By: By EH News Bureau-16 Aug, 2020

Russian doctors wary of rapidly approved Covid-19 vaccine, survey shows..

By: Reuters-16 Aug, 2020

Need to wage war against NCDs, not just COVID-19: Dr Prathap C Reddy..

By: By EH News Bureau-16 Aug, 2020

COVID-19 during pregnancy shows no affect on placental structure and pathology..

By: Dr. Liji Thomas-15 Aug, 2020

Has Delhi flattened COVID-19 curve? Widespread testing, improved health infrastr..

By: CitizeMatters.in-15 Aug, 2020

Acupuncture may help with inflammation and sepsis, a life-threatening condition ..

By: Myupchar-15 Aug, 2020

PM Modi to launch National Digital Health Mission and a unique identity number..

By: ET Bureau-15 Aug, 2020

WHO says food safe from coronavirus..

By: AFP-15 Aug, 2020

Why flu vaccines do not protect people for long..

By: ScienceMag.org-15 Aug, 2020

Amid Covid-19 fear, Delhi hospital conducts 10 liver transplants in two months..

By: ANI-14 Aug, 2020

A new way to monitor skin cancer: Scientists suggest a urine test could help tra..

By: Myupchar-14 Aug, 2020

Covid-19: Human trials of Oxford vaccine set to begin in 2 weeks, Serum Institut..

By: FE Online-14 Aug, 2020

Coronavirus India Live: Recovery rate in India best in world, fatality rate lowe..

By: FE Online-14 Aug, 2020

Zydus Cadila launches Indias cheapest remdesivir version Remdac..

By: FE Bureau-14 Aug, 2020

NHA governing board gives nod to the integration of central health schemes with ..

By: PTI-14 Aug, 2020

ePharmacies to tap approx 70 million Indian households by FY 25: FICCI report..

By: EH News Bureau-14 Aug, 2020

Novavax Reports Encouraging Vaccine Results..

By: Carolyn Crist-05 Aug, 2020

"Patients From Outside": Delhi Health Minister On Covid Tally Surge...

By: DelhiPress Trust of India-09 Aug, 2020

Billion Covid Vaccine Doses Could Be Available By End Of 2021: US Top Health Exp..

By: WorldReuters-06 Aug, 2020

New drug RLF-100 shows dramatic recovery in Covid-19 patients suffering respirat..

By: PTI-06 Aug, 2020

Biz of this immunity food not in the best of health...

By: Mayilvaganan-06 Aug, 2020

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