Innovation at our company is focused on solving real problems in healthcare

Rajiv Nath– Managing Director, Hindustan Syringes & Medical Devices Ltd & Forum Coordinator, AiMeD

Sohail Nath -Executive Director, Hindustan Syringes & Medical Device Ltd.

How do you feel about your second-generation successor taking over your entrepreneurial legacy?

Legacies are to be earned and sustained, it’s not about inheriting an entitlement.

Passing the entrepreneurial torch is a significant moment, yet it is also a gradual process. It is not a matter of handing over control abruptly; rather, it involves preparing the next generation to lead with confidence and clarity. Our efforts have been dedicated to building a company that operates on robust systems and processes, ensuring that the business does not rely on any single individual. The successor will inherit a well-structured organization capable of steady growth. I believe in fostering leadership that comprehends the company’s core mission. It is essential that the next generation uphold our values and continue to build upon them. My current role is to mentor and guide, ensuring that the transition is seamless. The ultimate objective is continuity and sustainable growth, which represents the true legacy we aspire to leave behind.

You come from a strong healthcare legacy—what core values or philosophies have you carried forward in your journey?

Our journey is founded on integrity, honesty, and transparency. Resilience drives us through healthcare challenges, with a purpose to improve health outcomes. Respect and cooperation from peers, colleagues and juniors comes from leading from the front and setting an example with giving back respect to them and by hard work, perseverance and focus. We prioritize quality, safety, and long-term relationships based on trust and ethical fair dealings. Focusing on long-term impact over short-term gains, we maintain consistency and relevance. These values guide our decisions and company culture, ensuring future generations uphold these principles.

What were the biggest challenges you faced stepping into a leadership role in a legacy business, and how did you overcome them?

When I stepped into the leadership role, the company was largely driven by the personality of its founder. This made decision-making centralized and sometimes slow. One of the biggest challenges was to move away from this founder-centric model. I had to introduce systems and processes that allowed different teams to take ownership. This meant building strong functional departments such as sales, marketing, finance, and operations. Another challenge was expanding the product portfolio beyond glass syringes. We needed to innovate while maintaining our reputation for quality. Managing personnel and production at scale demanded swift adaptation and learning. Persistence and a clear vision were crucial to overcoming resistance to change. Over time, we developed a management structure that enables the company to grow independently of any single individual. This transformation laid the foundation for our global expansion. Of course, leadership counts and is needed.

How have you introduced innovation or transformation into the business while maintaining its foundational identity?

Innovation at our company is focused on solving real problems in healthcare. We do not pursue innovation for its own sake or to follow trends. Instead, we carefully study market needs and patient safety concerns. For example, we developed safety syringes to prevent needle-stick injuries. This was a response to a serious health risk faced by healthcare workers worldwide, while concerned to also address  the objectives of affordable accessibility and environmental sustainability by reducing number of components, product and pack size , to reduce the carbon footprint. We also introduced auto-disable syringes to prevent reuse and contamination. These innovations are aligned with our core value of protecting lives. We collaborate with technical experts across the globe to develop and refine these products. After co-development, we leverage our manufacturing expertise to mass produce them at scale with consistency. Through this approach, we stay true to our identity as a focused, quality-driven company. Our goal is to be among the top global players in a few selected product lines rather than spreading ourselves too thin with a thick product catalogue.

In your view, how is the healthcare industry evolving, and what role do you see your generation playing in shaping its future?

The healthcare industry is shifting towards focusing on safety, affordability, and accessibility. There is also an increasing integration of digital technologies and data analytics in care delivery. Building infrastructure to support these changes involves strengthening local manufacturing capabilities and supply chains and creating partnerships that prioritize patient outcomes over short-term profits. We must focus on delivering reliable, high-quality medical devices that meet global standards. At HMD, we see ourselves as enablers of this transformation. We aim to expand our reach into underserved markets and provide affordable consistent quality products that improve healthcare delivery. Ultimately, our generation must build a healthcare ecosystem that is resilient, equitable, and future-ready.

Looking ahead, how do you plan to expand or diversify the legacy you’ve created—and what message would you give to future generations of healthcare entrepreneurs?

Our expansion plans are deliberate and focused. We do not seek to diversify indiscriminately. Instead, we want to deepen our expertise in key product lines where we can lead globally. We also plan to enter new markets that are currently underserved or lack affordable access, especially in India and developing countries. Strengthening our supply chains and manufacturing capabilities with automation and backed by higher technologies will be a continuous priority. My advice to future healthcare entrepreneurs is to stay mission driven. Avoid chasing quick wins or expanding too rapidly without solid foundations. Be an industrialist manufacturer and not a short term driven opportunistic businessman or a pseudo manufacturer.

Building trust based on ethical, fair dealings with customers and partners is crucial. Success stems from consistency, quality, and having a long-term perspective. Focus on making a positive impact on people’s lives for creating a legacy. Don’t chase money, money is a byproduct of success.