Himanshu Baid

Poly Medicure

Builder of excellence in healthcare

In the dynamic and competitive medical devices industry, Mr. Himanshu Baid has grown a brand from humble beginnings to a global powerhouse, revolutionizing healthcare one innovation at a time. Poly Medicure is today one of India’s largest exporters of consumable medical devices with distribution in more than 125 countries.

When, towards the end of 1995, Mr. Baid joined the company, which his father had set up the same year, it brought together their expertise in production, sales, and marketing. Backed by steady growth, Mr. Baid made the company public in 2011. With 12 manufacturing facilities in India and globally, Poly Medicure has an astounding manufacturing capacity of over 1.5 billion devices per year across multiple product segments.

Under his visionary leadership, Poly Medicure has strategically embraced automation to drive capacity expansion. He intends to use half of an INR1,000 crore- Qualified institutional placement (QIP) to develop three new facilities that specialize in high-margin segments of cardiology and critical care and make technology and strategic acquisitions that will broaden reach in related domains. His next steps include deploying digital tools to streamline workflows, optimize supply chain management and improve customer interactions.

The company witnessed 23% increase in net revenue in FY24 with 70% of the revenue stemming from exports. It has a debt-free financial position and has witnessed a commendable rise in market capitalization, at a CAGR of 77% from FY22 to FY24.

Even while expanding product segments and distribution, Mr. Baid has embedded sustainability at the core of operations. Poly Medicure produces 1,392MWh of solar energy and has implemented digital measures to reduce CO2 emissions. He is also committed to empowering women and the specially abled, with CSR operations running across Faridabad, Jaipur, and Haridwar districts.