eMediNexus is India’s mobile and web enabled professional networking platform for doctors. By delivering cutting edge instructional and discussion oriented clinical content to doctors mediated by key opinion leaders, it allows them to address the current vacuum in their continuous medical education needs. The platform provides doctors with the last 24 hours in medicine, the opportunity to engage within their specialties, access national medical event and association feeds, and discuss individually with each other or the broader doctor community. (Read more here)
Biotechin.Asia interviewed the founders of eMediNexus, Nilesh Aggarwal and Amit Sharma.
When was the company founded and who are the co-founders?
While the company was founded in August 2015, the idea was first conceptualized in September 2014. The founders of the firm are investing/consulting and medical communications professionals Nilesh Aggarwal and Amit Sharma, respectively.
Nilesh completed his undergraduate degree in Economics and Finance from Singapore Management University and gave up the INSEAD MBA, which is now ranked as the number 1 MBA in the world, in order to start eMediNexus. Nilesh brings huge healthcare experience to this venture. He is a seasoned healthcare professional who has been running the IJCP Group for the past 6 years. IJCP is a leading medical communications player in India and has been in the market since 1991. Its products and services include medical journals, live and online CME’s (continuing medical education), healthcare PR, digital healthcare marketing, and healthcare media. Nilesh brings a vast knowledge of the healthcare industry onto the table along with a wide nexus of healthcare professionals who will be collaborating with eMedinexus.
Amit is a graduate in Economics and Policy from the University of Chicago and Carnegie Mellon University, respectively. He was thereafter an Analyst at Warburg Pincus LLC in New York, the operations lead of a pharmaceutical logistics startup, a Senior Investment Associate with an India focused healthcare fund, the General Manager of India’s largest healthcare consulting firm (Hosmac), and most recently, the Lead Consultant of the Max Institute of Healthcare Management. After extensive experience as an investor and consultant in India’s healthcare sector, Amit identified the bottlenecks in medical education and availability of skilled workforce, as the main paint point faced by industry, conceptualizing eMediNexus in 2014. Expensive brick and mortar infrastructure is required to establish capacity, and the fluency of doctors with the latest developments in modern medicine is a lagging requirement needed to maintain relevance and productivity. Amit has served as a member of the CII Healthcare Committee, the US India Business Council, Assocham’s Health and Healthcare Provider Committee, is an active technology angel investor, and is a mentor with DLabs in addition to HealthStart, both incubators focusing on early stage investments.
What is eMediNexus all about?
eMediNexus is a doctor network, medical learning hub, and healthcare advocacy platform, designed to improve the flow of information amongst the supply-side agents in healthcare, doctors. eMediNexus provides access to the latest news and journal developments covering the last 24 hours in medicine, hosts interactive webcasts, instructional and specialty-specific discussions around cases and clinical Q&A, and empowers doctors to seek second opinions from one another. eMediNexus is currently available on the web and on the Android Playstore, with its iPhone application launching in March. eMediNexus has been live since November 5, 2016.
How much are the products/services priced at? How has the response been so far?
eMediNexus’ services are free for all registered doctors. Future revenue streams would come from pharmaceutical marketing, hospital recruitment, and consulting. The response from the Indian doctor community has been overwhelming so far, making eMediNexus the fastest growing doctor network in the nation, registering over 30,000 doctors online. 60% of eMediNexus users are return users, showing substantial stickiness of services offered.
What is your target market?
eMediNexus is currently focused on the Indian market; however, it has received digital attention from the United States and Russia, amongst other international economies. eMediNexus plans to pivot to other markets in South Asia, given the similarity in the medical education and clinical cases seen in these economies.
What is the business/revenue model of the company?
eMediNexus’ revenue model comprises of pharmaceutical marketing, hospital recruitment, and consulting.
What other streams of revenue do you foresee? What are the future plans for your company?
eMediNexus plans to become a one-stop solution for all agents looking to reach doctors from within and outside the healthcare industry. In the future, revenue streams could include leveraging the doctor base to offer specific services.
What are your achievements so far?
eMediNexus launched with a first of its kind digital petition, the IMA Satyagraha, for which it was the exclusive digital partner, signing on 40,000+ doctors showing resounding support for several policy points relating to improving the condition of doctors. eMediNexus has also covered a majority of the national specialty conferences, with dedicated teams of medical writers capturing scientific proceedings and disseminating to the Indian doctor community. Thirdly, eMediNexus has launched various weekly specialty newsletters sent to all doctors of a given specialty, in order to buffer their clinical knowledge.
Your thoughts on biotech and healthcare startups in India/Asia, in general?
Its an exciting time for startups in the healthcare space in India and Asia. While there has been a significant replication of models seen in the West, Asian startups are adopting their own approach to complex issues.
Any advice for biotech/healthcare startups? How as your startup journey been as a (co-)founder?
Entrepreneurship is a long and hard journey – have conviction, be flexible, and stick to your guns.