Client: India’s first U.S.-certified heart hospital, promoted and run by India’s top heart surgeon.
Promoter's Dream: To triple beds and sales within six years, to expand into new specialities and geographies, to ensure a future of sustained, profitable, growth.
The Avenues of Opportunity Recommended by OPENMIND
Move Upscale: OPENMIND recommended that the client leverage its superior reputation, by creating 7 star facilities and services for the super luxury segment, catering to both Indian and foreign HNI’s. OPENMIND MD, Mr. Richard Rothman advised the client to tap into the superior margins in the super luxury segment, uncovering an excellent opportunity for sustained, profitable growth.
Be Single Minded: OPENMIND recommended that the client focus solely on the heart segment, and postpone its current program of brand extension into orthopedics, cancer and other specialities. Mr. Rothman also recommended that the client abandon plans to change its brand name to focus on the generic word “Hospitals,” and retain its current branding focused around the word “Heart”. By remaining King of the heart segment, the client can recover its greatest opportunity for sustained, profitable growth.
Expand in India & Beyond: Rather than only considering expansion into other Indian cities, OPENMIND recommended that the client consider the goal of becoming the finest brand of heart hospitals in all of Asia. Heart care is the largest medical segment and Asia is the world’s fastest growing region for luxury care. Mr. Rothman recommended that by capturing leadership of the heart niche in Asia, the client would discover a phenomenal opportunity for sustained, profitable growth.
Actions Taken: The client wholeheartedly accepted the OPENMIND recommendations and is now into the implementation phase. There was promoter and top management involement in the entire process and decision-making.
The OPENMIND Advantage
Industry: The hospital industry is projected to grow at a Compounded Annual Growth Rate of 10-12% over the next five years.