Interview with Vijay Paliwal at Midmark (India) Private Limited

Q: Vijay, Can you please tell us a bit about yourself personally and professionally.

I joined Midmark in 2007 where I was responsible for execution of the company’s external organic and inorganic strategy. This included target identification, valuation, due-diligence, transaction structure and definitive agreement negotiations as well as integration planning support for medical, dental and animal health divisions on a global basis.

Prior to joining Midmark, I held positions within M&A and financial planning at Limited Brands, based in Columbus, OH and Sprint Corporation at their global headquarters in Overland Park, KS. In my M&A roles, I have led and/or supported closure of 20+ M&A transactions with total deal valuation of ~$1.6 billion in addition to treasury activities including stock buyback and debt issuance of ~$2.5 billion. In my FP&A roles, I have led and supported the long range planning and in season budgeting/trending for the Victoria’s Secret Stores organization as well as provided decision support to the wireless division at Sprint.

I am married and have two children, Aryan (12) and Anya (8).

Q: Imagine that you met someone in an elevator and was asked to explain Midmark in 30 seconds or less… Can you give us a 2 sentence ‘elevator pitch’ about your business and what you do?

We are the leading manufacturer and supplier of patient positioning equipment in India (Midmark India) and US (Midmark Corp). Midmark India (earlier Janak Healthcare) has the deepest sales and service network in India with a legacy of 65+ years of customer centricity and product quality of global standards.

Q: How did you get started in this business?

Janak Healthcare was founded in 1951 to address the issue of chronic shortage of high quality hospital furniture in India and help customers to avoid the lengthy import process in 1950s and 60s by making an indigenous option available. Our vision is “To anticipate, create and lead the best healthcare experience for all”. Thus, we are broadening our offering to include products and services that touch various “points of care” including hospitals, clinics and home care.

Q: Can you describe your customers / what type of customers does Midmark / Janek have?

Our customers are primarily the providers of healthcare including hospitals, clinics, nursing homes etc both in the private as well as government segment.

Q: What are some of your “keys to success” in building your customer base?

We are pioneers in the patient positioning segment in India. Our local competitors aspire to be “like” Midmark/Janak and we have never lost an order in India due to another local competitor’s perceived quality to be better than Janak. We compete with global companies and are proud to be an Indian manufacturer that is second to none. Here are some key differentiators in our products/services:

  1. Pioneers in Hospital Beds – Intensive Care Unit Solutions
  2. 1ST To Manufacture Electrically Operated Beds in India
  3. Market Leaders in our Segment
  4. Quality Products- Benchmark in the Industry.
  5. Deepest Sales Coverage Network in India in the Industry
  6. Deepest Technical Support Network in our Segment in India
  7. CE, ISO, OHSAS certifications from bodies of international repute

All of the above has contributed in building a strong foundation of trust with our customers.

Additionally, we follow TPS in our manufacturing processes and systems attempting to eliminate waste from our processes and passing on the savings to our customers, directly or indirectly.

In summary, we are a values driven organization that keeps the promises made to our stakeholders… and customers have rewarded us with their trust and loyalty in return.

Q: Is there anything about your business that you feel makes it special?

I think our business is special because we were pioneers in India and virtually the only national level providers of positioning equipment/medical furniture for a long time. Despite that, we always strived to provide the “best-value” to our customers in terms of price and quality and never compromised. Though we are always slightly more expensive than many domestic or most Chinese players, it is because we don’t cut any corners whether it comes to compliance with local regulations or purchase of best parts and components from across the world.

Our teammates across India also make the company special. Some of them have been with us for 30-40 years, have shaped our values and contributed to the strong foundation of our business.

Q: Where do you see your business in the next year? In the next five years? In the next ten years?

We expect 20-25{bfa08a400c7550404055ff04715e84c9172815d33c25eb3b84e230636ecdc007} growth in business next year. I also expect our new orthotic rehabilitation support division to grow multiple fold across India next year as well as a successful launch and growth of various products like Protilt (motorized bed with lateral tilt), Digital ECG, Midmark OPD furniture including examination tables and casework. I expect Midmark India to maintain its leadership position in India in the medium and long term.

Vijay Paliwal

Vijay Paliwal
Managing Director
Midmark (India) Private Limited
Vice President, IndiaMidmark Corporation
vpaliwal@midmark.com
www.midmark.in
www.midmark.com

Tel: +91 (22) 4915-3001

Janek House, Opp. I.O.C. Depot
Sheikh Misry Road, Wadala (E)
Mumbai 400 037. India