Turning a medical degree into a multi-million dollar business is no easy task, but only a few doctors managed to do it. Here are 10 doctors who stepped out of their clinic to launch major healthcare companies, hospital chains, biotech firms and more.
In 1983, Dr. Prathap C. Reddy founded Apollo Hospitals and served as chairman and founder. He studied medicine at Stanley Medical College in Chennai and then studied cardiology in the United Kingdom and the United States. Apollo Hospitals were established by Reddy in Chennai. Later, the organization expanded to include pharmacies, clinics, diagnostics, telemedicine, digital health, and other healthcare services in addition to hospitals.
Dr. Devi Prasad Shetty, a cardiac surgeon, founded Narayana Health in Bengaluru in 2000. The organization initially specialized in cardiac care, but has since grown to become a multispecialty hospital network. Narayana Health operates hospitals across more than 30 specialties. In addition to incorporating data analytics and technology into hospital operations and patient care, the healthcare model incorporates technology.
From clinical medicine, Dr. Patrick Soon-Shiong moved into pharmaceutical and biotechnology development. His invention, Abraxane, a form of paclitaxel infused with albumin nanoparticles, received FDA approval in 2005 for metastatic breast cancer and lung and pancreatic cancer. A pioneer in pharmaceuticals, he founded Abraxis BioScience as well as NantWorks, a healthcare, biotechnology, data, and technology company.
A physician and immunologist, Dr. Ugur Sahin co-founded BioNTech in 2008 with Dr. Ozlem Türeci and Dr. Christoph Huber. The company initially specialized in cancer immunotherapy and mRNA-based treatments.
Sahin was also involved in the development of BioNTech's COVID-19 vaccine program, known as Project Lightspeed. This vaccine program uses information about mutations in a patient's tumour to develop targeted immunotherapy.
Dr. Vaibhav Kapoor co-founded Pristyn Care in 2018 with Harsimarbir Singh and Dr. Garima Sawhney. The Gurugram-based company provides support for secondary care surgeries, including diagnostics, hospitalisation, insurance paperwork and post-surgery follow-up.
Its network offers minimally invasive procedures, including laparoscopic and laser-based treatments.
Dr. Farzad Mostashari co-founded Aledade in 2014. Before that, he served as the US National Coordinator for Health Information Technology. Aledade works with primary care organizations on value-based care.
In 1988, after years of surgical training and practice in the United States, cardiac surgeon Dr. Naresh Trehan founded Escorts Heart Institute and Research Centre in India. In 2009, he founded Medanta, The Medicity, in Gurugram as a multidisciplinary hospital. Medanta has since expanded its network to several Indian cities. According to Medanta, Trehan has performed more than 48,000 open-heart operations.
Radiologist Dr. Shamsheer Vayalil established his first hospital in Abu Dhabi in 2007, beginning the healthcare business that developed into VPS Health. His healthcare interests later expanded across hospital services, pharmaceuticals, emergency medical services and education. His portfolio includes Burjeel Holdings and VPS Lakeshore Hospital in Kerala. The wider healthcare group operates across the Middle East and India.
Family physician Dr. Toyin Ajayi co-founded Cityblock Health in 2017 with a focus on people with complex healthcare and social needs. Cityblock Health's model brings primary care, behavioural health and social services together. Before co-founding the company, Dr. Ajayi was Chief Medical Officer at Commonwealth Care Alliance, where she worked on care delivery for people eligible for both Medicare and Medicaid.
As a fertility care specialist since 1988, Dr. Ajay Murdia has focused on infertility and male infertility. Upon founding a two-room clinic in Udaipur, Rajasthan, he named it Indira IVF after his wife. Indira IVF says its network has grown to more than 200 centers and supported more than 200,000 IVF pregnancies over the years.