With over a decade of industry experience, this company is steadfast in its mission to extend healthcare and diagnostic solutions to the last mile of the country. Anchored by a commitment to technological advancement, it provides cutting-edge diagnostic technologies alongside telemedicine solutions and financial inclusion devices and services. In the rapidly developing landscape of India, the convergence of telemedicine and last-mile healthcare is poised to redefine healthcare delivery, bridging gaps in accessibility, and fostering excellence in medical diagnostics across the country. The financial inclusion devices would also play a crucial role in bringing last-mile individuals into the economic grid by providing them with access to essential financial services.
About the company
Founded in 2010, Maestros Electronics & Telecommun. Systems Ltd (Mcap 63 Cr) is a medical diagnostic equipment and services organization, which focuses on empowering medical professionals and institutions, that treat cardiac, gynaecology, and critical care patients across the country.
Business Focus:
– Medical device manufacture.
– Telemedicine and Healthcare Solutions
– Business Automation (Banking and Microfinance, financial inclusion, PDS automation)
Top Management:
| FY20 | FY21 | FY22 | FY23 | |
| Employees | 68 | 73 | 74 | 85 |
Business Segments:
Telemedicine Market Opportunity:
Growth Drivers:
- Technological advancements: The prevalence of mobile devices and on-demand healthcare apps
- The awareness, acceptance, and demand for telemedicine are growing rapidly post Covid-19
- Rising demand for convenient healthcare: Telemedicine eliminates travel and wait times, allowing patients to consult doctors from home, saving time and effort.
Medical Devices Market Opportunity:
Growth Drivers:
- So far, the PLI scheme for Medical Devices has approved 26 projects, with a total investment commitment of Rs. 1,200 crore (US$ 147 million). This aims to boost growth and innovation in the MedTech industry, positioning India as a global hub for manufacturing and innovation in the future.
- In August 2022, the Department of Pharmaceuticals greenlit the “Promotion of Medical Device Parks” program from FY21-25 with a total financial investment of Rs. 400 crores (US$ 48.97 million), with maximum support under the program of Rs. 100 crore (US$ 12.24 million) for each Medical Device Park
- Wearables such as glucose monitors, exercise trackers, and wearables for mental health are becoming popular among consumers in India because of their ease of usage
- In May 2023, Medtronic announced an investment of approximately Rs. 3,000 crore (more than US$ 350 million) to expand the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad. MEIC is Medtronic’s largest research and development (R&D) centre outside of the US.
Products:
1. Cardiology:
a. ECG Machine: Diagnosing cardiac conditions such as arrhythmias and heart attacks by recording and analyzing the heart’s electrical activity.
b. Patient Monitor: Keeps an eye on your heart rate, blood pressure, oxygen levels, and breathing in places like hospitals to make sure you’re okay.
c. Defibrillator: Delivering an electric shock to the heart to restore normal rhythm in cases of cardiac arrest or life-threatening arrhythmias. They are used in emergencies such as in hospitals, ambulances, and public places.
d. Pulse Oximeter: Clips onto your finger to measure how much oxygen is in your blood and your heart rate, useful for checking your breathing and heart health.
2. Mother & Child Care:
Fetal Monitor: A Fetal Monitor is a device used during pregnancy to track the baby’s heartbeat and the mother’s contractions. It helps healthcare providers assess the well-being of the baby and monitor the progress of labour during childbirth.
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Disclaimer: This article is provided for informational purposes only and should not be considered as an investment advice
Also read:
Who are the peers of Maestros Electronics, and what is the sector’s (P/E) ratio?
Aprameya Engineering, MIC Electronics, Spectrum Electrical Industries, etc can be considered its peers. It’s difficult to comment on the sector’s P/E ratio since no company is only involved in manufacturing of medical devices. It’s better to look at the future outlook of medical devices manufacturing industry in India in the coming decade.