On a Road Less Travelled

After 20 years into hospital administration, he decided to start his own healthcare company

Dr Alok Roy (50) Chairman & Managing Director, Medica Synergie, Kolkata

Born in 1958 in Allahabad, he did MBBS from SCB Medical College, Cuttack, PG in Bio Physics from AIIMS, and Diploma in Radiation Medicine from BARC, Mumbai.

Why an entrepreneur?

"I believed that doctors and those who have spent long time in healthcare can become better entrepreneurs because of our understanding of healthcare. After working for 20 years for others, I wanted to work for myself. This belief was shared with my colleagues and this made me get into starting an East India-based healthcare chain," says he.

Before being an entrepreneur

In 1987, he started his career in hospital administration by joining BM Birla Heart Centre, Kolkata to help set up the 140-bed institute. He left BM Birla in 1995 and worked with Gleneagles Clinic, Kolkata for a year. Thereafter, he joined the 200-bed Manipal Heart Foundation to start the institute.

Meanwhile, he also started Asia Heart Foundation along with Dr Devi Shetty, where he was the Vice Chairman. In the year 2000, he set up the 130-bed Rabindranath Tagore International Institute of Cardiac Sciences, Kolkata in association with the Government of West Bengal. He was also involved in setting up of Narayana Hrudayalaya in Bangalore for Dr Shetty.

"We built some seven hospitals together, but due to some difference with Dr Shetty, I decided to move out," says he. In 2003, he joined Family Health Plan of Apollo as MD. In 2004, Roy joined Fortis Hospital Noida as VP, Operation and COO of Fortis, Noida and left it in March 2007 to start Medica Synergie.

The first move

Along with some former colleagues, he founded Medica Synergie in April, 2007. "I wanted to build an integrated healthcare chain in Eastern India which would offer the quality of service of a corporate hospital but would be more affordable," says he. He with his six colleagues (having background in hospital administration) and friends chipped in Rs 10 crore and the company started operating from a small office in Kolkata. "In that 10 by 12-feet room, it was like playing musical chairs to get seats," he says.

The first project that Medica Synergie bagged was to prepare a health plan for the state of Meghalaya. "We had to survey 6,000 villages for that," notifies Dr Roy. Soon, the project consultancy division was also launched and thereafter the retail pharmacy chain. There was no looking back after that.

Over the years

Medica Synergie has grown from six people to 800 employees, from one office to 15 branch offices. It has recently commissioned a standalone 20-bed ENT Hospital in Kolkata, built at a cost of Rs 5 crore. The projects and consultancy division of Medica Synergie is developing district health plans under National Rural Health Mission for the states of Meghalaya, Bihar, Tripura and Sikkim. At present, more than 50 'Medica Pharmacies' are operational in and around the city.

"By March 2009, we plan to take the tally to 120-odd pharmacies across the entire Eastern region," added Dr Roy. It is actively involved in 'Bio-Medical Waste Disposal Management' of Tripura Government's Health Department.

Fears and apprehensions

"Though I was confident of my success, the fact that I exhausted all my resources to start the company was scary," he admits.

Any formal degree in management?

“I had none. I learnt while I was on the job, but it helps to have a degree," says he.

Overcoming roadblocks

As most start-ups, he faced problem of getting funding, be it from banks or private equity. He also faced problems while going through bureaucrats associated with various Government bodies. "But the Government of West Bengal has been very encouraging," he says.

Mistakes made and lessons learnt

He regrets not having documented every business transaction. "I used to rely on verbal communication with people I knew well. After being betrayed a number of times, now I document every transaction," says he on lessons he has learnt over the years. Additionally, he rues not having started his entrepreneurial journey much earlier.

Tips for entrepreneurship

"Have faith in yourself and develop a good team around yourself and also remember that your deeds catch up with you. So, be ethical," he opines on a philosophical note.

An entrepreneur that he admires in healthcare

"Dr Badrinath, Chairman Emeritus, Sankara Nethralaya, for his simplicity, tenacity and building the best team in the world to deliver eye care, in one lifetime, and after having done so much still managing to live humbly," says he.

The road ahead

He is in the process of rolling out 1,000 beds in Eastern India. "We would roll out a hospital every month in the states of West Bengal, Orissa and Assam from next year onwards," informs Dr Roy.

The growth would be through a route of acquisitions and greenfield projects. The group has already acquired a 120-bed multi-disciplinary hospital in Siliguri, West Bengal. I-Ven Medicare has invested Rs 65 crore in Medicare Synergie to fund its expansion plans.

The projects and consultancy team is not only designing its own hospitals but have also bagged contracts for master planning seven district hospitals in Assam, three in Uttaranchal, and three in Orissa, including Sankara Nethralaya in Kolkata, and a 200-bed hospital in Allahabad. MPPL, a wholly owned subsidiary of Medica Synergie, is rolling out 250 retail outlets in a years time in Eastern India.