Mohammad Usman: A Young Entrepreneur Leaving No Stone Unturned To Meet Medical Industry's Needs
Mohammad Usman
Managing Director
Hi-Tech Medical Products Limited which was founded in 1994 as a prominent manufacturer of single use hypodermic needles and single use syringes with and without needles. Mohammad Usman (Managing Director) of Hi-Tech Medics was always interested in entrepreneur ship and had an aptitude for manufacturing from a young age. CEO Insights interviewed Mohammad, wherein he enlightened us about his professional journey and how is the company catering for industry needs.
Kindly throw some light on your educational and professional background. When you first started working, did you foreknow that this is where you would be?
I completed Bachelor's degree in Mechanical Engineering from IIT Kharagpur, followed by a Master's degree in Industrial Consistent Engineering from IIT Kharagpur. I started working with Hi-Tech Medics right after graduation, initially as a consultant to learn more about how production works and how things are made. So, from the beginning to the end, I believed that medicine was the new oil. It's preferable to work in this industry since it’s some thing that will always exist and will always change.
Apart from being the Managing Director of Hi-Tech Medics, what are the different roles that you have been undertaking at the company?
I started as a consultant to learn more about manufacturing and how things work, as well as to gain hands on experience in production and procurement. And then, after a while, when I went full time, I started learning about sales and the various
channel partners, as well as how sales are made, how we procure goods from all over the world, and how much we can expand into domestic or indigenous products. I became the Managing Director in 2018 when we took over the company, and have been working here since then.
How does your experience help you out to chalk out business operation for the industry Medical Devices Manufacturers?
My work experience has been a bit of a mixed bag this market, particularly the medical devices industry,where there is a significant amount of product is extremely competitive. Because there is a large initial expense and the return is delayed, the return on investment isn't parti cularly good. And there's a lot of volatility in the market and we are under a lot of pressure. So, when I took over the company, it was a loss making unit with a turnover of around Rs.10 crores, and in only four or five years, we've grown to become one of India’s major manufacturers, particularly for India. Currently, our revenue has increased by more than Rs.40 crores.
Are there any mentors you look up to for inspiration? What are the major factors behind the success of your professional career? Can you mention some of your success mantra?
My father would be the first, and I have always watched him working; he is one of Uttar Pradesh’s top surgeons. Work comes first for him, but he has always made time for us as a family to develop and learn, and he has always kept us informed about whatever decisions he makes. Warren Buffett is the second mentor I always look up to, and one of the things he said that I remember is to invest in things that you know have a future.Adding to this, working hard and always investing in your knowledge, innovation, and technology is my success mantra.
What emerging marketing trends have you identified that could affect our Medical Devices Manufacturers industry?
It's a continuous process sector that relies largely on plastic processing, and technology is rapidly evolving.
My work experience has been a bit of a mixed bag; this market, particularly the medical devices industry, where there is a significant amount of product, is extremely competitive
How does your experience help you out to chalk out business operation for the industry Medical Devices Manufacturers?
My work experience has been a bit of a mixed bag this market, particularly the medical devices industry,where there is a significant amount of product is extremely competitive. Because there is a large initial expense and the return is delayed, the return on investment isn't parti cularly good. And there's a lot of volatility in the market and we are under a lot of pressure. So, when I took over the company, it was a loss making unit with a turnover of around Rs.10 crores, and in only four or five years, we've grown to become one of India’s major manufacturers, particularly for India. Currently, our revenue has increased by more than Rs.40 crores.
Are there any mentors you look up to for inspiration? What are the major factors behind the success of your professional career? Can you mention some of your success mantra?
My father would be the first, and I have always watched him working; he is one of Uttar Pradesh’s top surgeons. Work comes first for him, but he has always made time for us as a family to develop and learn, and he has always kept us informed about whatever decisions he makes. Warren Buffett is the second mentor I always look up to, and one of the things he said that I remember is to invest in things that you know have a future.Adding to this, working hard and always investing in your knowledge, innovation, and technology is my success mantra.
What emerging marketing trends have you identified that could affect our Medical Devices Manufacturers industry?
It's a continuous process sector that relies largely on plastic processing, and technology is rapidly evolving.
As a result, if you aren't aware of all the new technologies, advancements, and automation that are on the horizon, you will be far behind. You must travel, see the globe, and learn about medicine. We talk to the machine manufacturers, our employees, and our customers, and they keep coming-up with fresh ideas.
Hi-Tech Medics is a company that has been actively adopting the latest technology in the industry and replaces obsolete ones. How do you make sure to keep updated with the new technologies?
As a country, the COVID has had a significant impact. And consequently, we've learned to be self-sufficient. I believe that the future will be more about selfcare products, and that patient care and comfort will improve as individuals have become more conscious of all the factors that affect their quality of life. However, India is a very cost conscious market. As a result, as a medical device producer, you must strike the right balance between the quality you provide and market price sensitivity, which is one way to move forward.
As a company where the manufacturing process is designed in a way to ensure the ecological environment is not harmed, what major criteria andsteps you are initiating to keep the process and company eco friendly?
Because we have to use medical grade raw materials, our company uses the best source materials and one of the lowest rated components in the entire industry, which decreases our consumption. The only way to assure that you are utilizing the least amount of material and generating the least amount of waste is to not compromise on quality. We need to keep a close eye on rejection and rework, as well as any raw materials you're acquiring for the converted 99.5 percent completed stock. It's critical to use medical grade components and raw materials, and we're putting a lot of effort into digitization to have as little influence on the environment as possible.
Mohammad Usman,Managing Director, Hi-Tech Medics
Known for excellent business development strategies, Mohammad developed an interest in entrepreneurship at a young age and always had a knack for manufacturing. So he earned a master's degree in Industrial and Systems Engineering from the prestigious IIT Kharagpur in 2014 and joined one of his family's syringe manufacturing businesses as Managing Director, taking the company to new heights.
Hi-Tech Medics is a company that has been actively adopting the latest technology in the industry and replaces obsolete ones. How do you make sure to keep updated with the new technologies?
As a country, the COVID has had a significant impact. And consequently, we've learned to be self-sufficient. I believe that the future will be more about selfcare products, and that patient care and comfort will improve as individuals have become more conscious of all the factors that affect their quality of life. However, India is a very cost conscious market. As a result, as a medical device producer, you must strike the right balance between the quality you provide and market price sensitivity, which is one way to move forward.
As a company where the manufacturing process is designed in a way to ensure the ecological environment is not harmed, what major criteria andsteps you are initiating to keep the process and company eco friendly?
Because we have to use medical grade raw materials, our company uses the best source materials and one of the lowest rated components in the entire industry, which decreases our consumption. The only way to assure that you are utilizing the least amount of material and generating the least amount of waste is to not compromise on quality. We need to keep a close eye on rejection and rework, as well as any raw materials you're acquiring for the converted 99.5 percent completed stock. It's critical to use medical grade components and raw materials, and we're putting a lot of effort into digitization to have as little influence on the environment as possible.
Mohammad Usman,Managing Director, Hi-Tech Medics
Known for excellent business development strategies, Mohammad developed an interest in entrepreneurship at a young age and always had a knack for manufacturing. So he earned a master's degree in Industrial and Systems Engineering from the prestigious IIT Kharagpur in 2014 and joined one of his family's syringe manufacturing businesses as Managing Director, taking the company to new heights.