In the early days of India’s evolving healthcare landscape, a vision was born—to make healthcare solutions more accessible, not just for a few, but for everyone. This mission gave rise to Paramount Surgimed Ltd, a company that set out to redefine standards by introducing advanced products like surgical blades and disposables. What started as a response to market needs quickly transformed into a journey of innovation, with Paramount not just following trends but actively shaping them.
Led by Managing Director Mr Shaily Grover, Paramount’s approach has always been about more than business—it’s about creating a lasting impact. With a commitment to introducing a new product every three years, the company ensures that every employee plays a role in its growth. Paramount’s leadership style blends visionary thinking with practical execution, empowering its team and fostering a culture where everyone’s contribution counts. This collective effort drives the company’s global vision: improving healthcare for all and not just a select few.
*Company Vision: Achieve 3x growth in the next five years.
*Goal: Become a leading player in the Indian medical industry.
*Milestones:
- Paramount Surgimed was the first company in its product category to achieve both ISO 9000 certification and the CE Mark (European Quality Standard).
- “We specialize in private labeling for top global brands, delivering premium-quality products, particularly across Europe and the USA,” says Shaily.
Three Decades of Revolutionizing Healthcare Through Innovation and Global Reach
Paramount began its journey over 30 years ago with a clear vision: to revolutionize healthcare in India by providing high-quality, affordable medical products. The company’s founders recognized the pressing need to bridge the gap in medical device availability for both professionals and end consumers. In its early years, as India’s healthcare sector was evolving, Paramount seized the opportunity to introduce advanced solutions, starting with surgical blades and disposables.
As the healthcare ecosystem grew—fueled by increasing demand, rising awareness, and the need for cutting-edge solutions—the company expanded its offerings, not just following market trends but actively shaping them. Paramount’s commitment to continuous innovation has been a driving force in uplifting the industry. The challenges posed by the COVID-19 pandemic further strengthened its mission as the company ramped up production and introduced essential products like oxygen concentrators and face masks to support healthcare professionals.
Today, Paramount exports to over 70 countries, offering a diverse portfolio that includes surgical instruments, adult care products, and disposable medical items. The company’s R&D Centre plays a crucial role in its success, with a focus on staying ahead of market needs by launching a new product every three years. Paramount’s ethos centres around a larger purpose—improving healthcare accessibility both in India and globally.
Under Shaily’s adept guidance, along with his sons, Dhruv and Daksh’s young leadership, Paramount’s journey has been one of resilience, foresight, and a passion for making a difference. Their leadership continues to drive the company’s pioneering spirit, ensuring it remains at the forefront of medical device innovation and technological advancements.
Pioneering Innovation and Excellence in Medical Devices and Healthcare Solutions
Paramount’s unique selling propositions (USPs) are defined by innovation, product diversity, global reach, and a steadfast commitment to customer satisfaction. These core elements have positioned the firm as a leading innovator in the Medical Devices & Tech Solutions sector.
Key USPs:
Innovative Product Development: Innovation drives the company’s growth, with a dedicated R&D Centre that ensures a new product is introduced every three years.
Comprehensive Product Portfolio: The company’s diverse product range includes surgical blades, face masks, adult diapers, underpads, hot water bottles, air mattresses, and more.
Global Presence and Trust: With exports to over 70 countries, Paramount has earned the trust of healthcare providers worldwide by consistently meeting the highest international quality standards.
Customer-Centric Innovation: The company’s deep understanding of the needs of healthcare professionals and end-users informs the design of practical, effective solutions.
Resilience through Challenges: In the face of challenges, including the COVID-19 pandemic, Paramount demonstrated agility and responsiveness, continuing to innovate and provide essential products to support the healthcare sector.
Leadership Approach at Paramount Surgimed
Empowering Future Leaders:
Under Shaily’s guidance, leadership at Paramount extends beyond a single individual. His sons, Dhruv Grover and Daksh, are actively involved in the company’s operations, highlighting the importance of succession planning and shared responsibility. This approach ensures continuity and nurtures the next generation of leaders.
Culture of Innovation:
At Paramount, continuous learning and innovation are embedded in the company culture. A structured R&D initiative encourages every employee to contribute ideas, with a collective focus on the goal of introducing a new product every three years.
Collaboration & Inclusivity:
The company fosters cross-functional collaboration across departments, ensuring agility in the fast-evolving medical industry. It values team input, creating a sense of ownership and strengthening problem-solving capabilities across the board.
Performance-Driven Environment:
A clear performance-driven approach, including incentives like 40k bonuses for target achievements, motivates employees to exceed expectations. Each individual is encouraged to set personal goals aligned with the company’s mission and is rewarded for their contributions to its success.
Key Strategies for Balancing Operational Efficiency and Customer Satisfaction
Technology-Driven Operations:
Paramount leverages modern manufacturing technologies and supply chain systems to enhance operational efficiency. This approach ensures that products, ranging from surgical blades to oxygen concentrators, are produced at optimal costs and delivered on schedule to both domestic and international customers.
Agile Product Development and Innovation:
The company’s R&D Centre is structured to quickly adapt to market needs, allowing for the introduction of innovative products like lung exercisers or disposable prep razors every three years. This emphasis on practical innovation ensures that their solutions align with evolving customer demands.
Strict Quality Control:
Meeting global quality standards is non-negotiable for Paramount. Each product undergoes rigorous testing to ensure that customer safety and satisfaction remain paramount while maintaining efficient processes.
Customer-Centric Approach:
Feedback from healthcare professionals and end-users drives the company’s product improvement efforts. Whether refining adult diapers or enhancing the usability of medical devices, Paramount strives to exceed customer expectations.
Optimized Global Supply Chain:
With exports to over 70 countries, the company relies on an agile and robust supply chain. This capability allows for effective inventory management, reduced lead times, and avoidance of stockouts, ensuring seamless product availability.
Pioneering Change in Medical Devices and Technology Solutions
Paramount integrates digitalization and technology across its operations to drive innovation in healthcare. With a dedicated R&D centre, the company launches new products every three years, including advanced solutions such as oxygen concentrators and digital thermometers. By leveraging digital tools, Paramount facilitates seamless exports to over 70 countries and enhances retail operations through its luxury division, Osim India. During the COVID-19 pandemic, the company swiftly adapted to produce essential products, demonstrating its agility. Committed to uplifting healthcare, Paramount combines technology with care to create a future driven by innovation and improved patient outcomes.
During the COVID-19 pandemic, Paramount faced significant challenges, such as disruptions in supply chains and an unprecedented surge in demand for essential medical products. Despite these obstacles, the team showcased remarkable resilience and agility by rapidly scaling the production of critical items like face masks and oxygen concentrators. Leveraging their R&D capabilities and efficient global supply network, they ensured uninterrupted service to both domestic and international markets. This response not only reinforced the company’s commitment to healthcare but also highlighted its ability to innovate and adapt in the face of adversity.
Shaily advises aspiring entrepreneurs in the medical devices and tech solutions sector to focus on three key pillars: innovation, adaptability, and quality. Establishing a strong R&D foundation is essential for developing products that meet evolving healthcare needs. Entrepreneurs should remain agile to navigate challenges, as exemplified during the COVID-19 pandemic, and leverage technology to enhance their offerings. Building trust through high-quality products is crucial, especially when expanding into global markets. Lastly, aligning business goals with the broader mission of uplifting healthcare ensures long-term growth and meaningful impact in this competitive industry, he concludes.
Shaily envisions Paramount Surgimed as a global leader in the medical devices and tech solutions space by continuously driving innovation and expanding its product portfolio. The firm aims to strengthen its R&D capabilities, introducing advanced medical solutions that address emerging healthcare needs. By leveraging technology and expanding exports to new markets, it aspires to elevate India’s position in global healthcare. The company remains dedicated to empowering healthcare professionals and improving patient outcomes through high-quality, accessible products, aligning with its mission to uplift the healthcare industry and create a lasting impact on both domestic and international fronts.
