Bilakhia won the award in Life Sciences and Healthcare category
Micro Life Sciences (Meril) Founding Member, Shahid Bilakhia, won the EY Entrepreneur of the Year ‘Lifesciences and Healthcare’ 2023 Award.
The eminent nine-member jury, led by KV Kamath, former Chairman of ICICI Bank, selected Bilakhia for his vision to reduce India’s import dependence on medical devices through investments in R&D and innovation. Under his leadership, Meril has grown at a CAGR of 55 per cent in revenues over the last two years, reaching Rs 2,300 crores in FY23 and recording industry-leading EBITDA margins of 35 per cent.
Additionally, Micro Life Sciences has become one of the first Indian companies to domestically manufacture novel, clinically relevant and state-of-the-art products. Today the company offers the widest range of medical solutions in the form of vascular intervention devices, orthopaedic implants, robotics, endo-surgery, ENT products, and in-vitro diagnostics, making it the largest medical devices company in India. Having attained market leadership in India, Shahid is now competing with global giants in 100-plus countries including the US and other regulated markets.
The Chief Guest, Ashwini Vaishnaw, Minister for Railways, Communications and Electronics & Information Technology, felicitated Bilakhia and other winners including: the EOY 2023 winner, Vellayan Subbiah, Special Jury Award winner, N Chandra, Venu Srinivasan, the lifetime achievement award winner.
Rajiv Memani, Chairman and CEO, EY India, said, “I extend my heartfelt congratulations to our esteemed winners and finalists of EOY 2023. They are true symbols of entrepreneurial excellence, who have transformed their businesses and created new markets where none existed. What distinguishes all of them is the scale, customer centricity and innovation with which they have built their businesses.”
