We see new innovations in every sector. But one thing hasn’t changed in like forever. Can you guess the product?
I’m talking about a stethoscope. The design of the stethoscope is still the same, no new invention was noticed. But AyuSynk took matters into their own hand and made a better stethoscope that can help medical professionals diagnose their patients better.
Heart & lung diseases are increasing day by day. When patients are having these health issues, their hearts and lungs sound differently. But to notice that different sounds is the tricky part.
If you’re already an expert doctor, then noticing the sounds might be easy for you. As you’ve diagnosed thousands of patients in your lifetime. But a normal stethoscope makes it really hard to identify those sounds easily.
That’s where AyuSynk comes in handy. Adarsh Kachappilly, Tapas Pandey & Varad Patil founded AyuSynk for the doctors to make their life easier. Adarsh is the CEO, Tapash is Head of Hardware and Varad is Head of Software & Analytics.
They came to Shark Tank India seeking ₹1 Crore in exchange for 1.5% equity in the company. Which gives the company a valuation of ₹66.67 Crores. They want the money to buy raw materials in advance that are needed to make AyuSynk.
Using AyuSynk is really easy. Just remove the chest piece from a normal stethoscope. Then attach AyuSynk to the stethoscope.
Voila, your normal stethoscope has become a digital stethoscope. It will give more clarity in detecting the heart and lung sounds. Also, it removes all the additional background noises from the environment.
The data can be live-streamed also. Doctors now can check their patients from rural areas. AyuSynk has its own application which can be used to send the heart and lungs sound.
Heart sound can be heard from 4 locations and lungs sound can be heard from 18 locations. So, it’s important to know where to place the stethoscope to get an accurate sound.
AyuSynk has 2 modes.
- Heart Mode
- Lungs Mode
If AyuSynk is set to heart mode then you’ll see red light. If you want to hear lung sounds, then all you have to do is tap twice on the machine, and it will show you a blue light. Lungs mode is equal to blue light.
In India, Doctors have less time to diagnose a patient properly. If he can use a stethoscope like this, then it will help him save some time. Also, it will help him to make important health decisions more accurately.
95,000 medical students graduate every year in India, and they buy at least 1 stethoscope every 5 years. So, the market size is around 250 Crores.
The average price of AyuSynk is ₹12,000. The gross margin is 55%.
They’ve sold 5000 units. They sold these 5000 units to telemedicine companies & doctors.
Their projected sales in fiscal year 2022 – 2023 is ₹7 Crores.
Vineeta Singh was out. She doesn’t have any expertise in the medical sector.
Aman Gupta was out. He thought the price was too high. He suggested that they should reduce prices to make it more profitable.
Anupam Mittal was out because Namita Thapar was about to give an offer. And he doesn’t want to mess with her.
Peyush Bansal gave the 1st offer. His offer was ₹50 Lakhs for 5% & ₹50 Lakhs debt at 12% interest. Peyush wanted Namita to join with him. Peyush gave them ₹10 Crores valuation.
Namita Thapar was interested in the product. But she didn’t want to join Peyush. She wanted to make this deal solo. She offered ₹50 Lakhs for 4% & ₹50 Lakhs debt at 10% interest. Namita gave them ₹12.5 Crores valuation. She gave them a higher valuation than Peyush.
|Offer 1||Offer 2|
|Peyush Bansal – ₹50 Lakhs for 5% & ₹50 Lakhs debt at 12%||Namita Thapar – ₹50 Lakhs for 4% & ₹50 Lakhs debt at 10%|
Namita stated that she could help them solve 4 problems.
- She could help lower the manufacturing cost.
- She could help lower the pricing.
- She could help them form a sales & marketing team.
- She could help them with awareness of the product using her existing pharma networks.
The founders took some time to decide. They gave a counteroffer of ₹50 Lakhs for 3.5%.
|Founder||Adarsh Kachappilly, Tapas Pandey & Varad Patil|
|Asked Amount||₹1 Crore for 1.5%|
|Final Deal||₹50 Lakhs for 3.5% & ₹50 Lakhs debt at 10%|
|Current Net Worth||₹14.29 Crores|
|Company Status||In Business|
Namita happily agreed with 3.5%. Just like that, Namita scored a deal in Shark Tank India.