Michigan-based Fortune 500 medical technology firm 'Styker' announces new India head

Michigan-based Fortune 500 medical technology firm Stryker has announced a new head of Indian operations as part of its plan to tap the highly lucrative market, especially after the recent launch of Ayushman Bharat scheme.

The flagship scheme, renamed the Pradhan Mantri Jan Arogya Abhiyan (PMJAY), aims to provide a coverage of Rs five lakh per family annually.

It will benefit more than 10.74 crore poor families for secondary and tertiary care hospitalisation through a network of empanelled health care providers.

The scheme will provide cashless and paperless access to services for the beneficiary at the point of service.

It will help reduce expenditure for hospitalisations and help mitigate the financial risk arising out of catastrophic health episodes. Eligible people can avail the benefits in government and listed private hospitals.

As Stryker's new managing director for India, Meenakshi Nevatia will be responsible for building business strategy and setting up the organisation for a long-term, sustainable growth in the Indian market, a media release said Monday.

Additionally, one of Nevatia's priorities will be to cultivate a strong commitment to Stryker's mission and values in India, it said.

Prior to joining Stryker, Nevatia had a 15-year stint with Novartis. In her last assignment as the country president and pharma division head for Novartis in Thailand, she led a strong business performance. She has also served in various leadership positions at Novartis across Spain, Portugal, the UK and Switzerland.

"Customers and patients are at the heart of everything we do, and I look forward to bringing together our team to do more to improve lives in India," Nevatia said.

"I also look forward to creating an environment where our people, one of our core values, can continue to thrive and grow," she added in a statement.

Nevatia has a Master of Business Administration in Strategy and Finance from the Indian Institute of Management, Ahmedabad, and a Bachelor of Science in Economics and Mathematics from the Presidency College, Kolkata.

(With inputs from agencies.)