Hello readers, in this article you will know about Dr. Velumani net worth , age, education, and great entrepreneurship journey in details.
About Dr. Velumani –
Who is Dr. Velumani? He is an Indian entrepreneur and founder of Thyrocare Technologies Ltd. which is a chain of diagnostic and preventive care laboratories whose headquarter is in Navi Mumbai. He is also a founder of Nuclear Healthcare Limited (NHL), a radiology diagnostics company affiliated with Thyrocare. NHL offers cancer-related imaging services at half of the cost of other service providers. Dr. Velumani has also launched two healthcare brands, namely Focus TB, focused on affordability and quality of TB diagnostics, and Aarogyam, a wellness preventive health check package. Dr. Velumani is also a passionate motivational and business speaker at corporate events.
| Name | Arokiaswamy Velumani |
|---|---|
| Date of Birth | 1959 |
| Age | 65 |
| Birthplace | Coimbatore |
| Father | Arokiasamy |
| Mother | Sayammal |
| Marital Status | Married |
| Wife | Sumathi Velumani |
| Children | Amruta Velumani, Anand Velumani |
| Bachelor degree | B.Sc. Degree from Ramakrishna Mission Vidyalaya |
| Profession | Creator of Thyrocare Technologies Limited |
| Nationality | INDIAN |
Dr. Velumani Earlier life –
According to him, his life stages are categorized into three sub-sections.
(a) Childhood
He was born in 1959 at Appanaickenpatti Pudur, a small village in Coimbatore, Tamil Nadu, India. He has 2 brothers and a sister. Growing up in a village gave him the opportunity to balance their life on less resources. During his village life he faces a lot of challenges and understands the problems of life from the childhood. He is the son of a landless farmer so, Education was very motivating factors for him to change the situation of own lifestyle and his family also.
As a Fresh Graduate, He eagerly searched for a job because he felt that he was all ready for the world. However he learnt he was just getting started when he got rejected in more than 200 interviews. His goal was to just get a job with a decent salary that can help him to support his parents and siblings. He had not fancied any designation, he had very tough time and facing a lot of challenges to get a job.
After facing a lot of challenges finally, he got a job at a private company where he worked for 4 years, with a pay not as per his education and work. so, he continued to search for a job that he could plan for his family’s future with. he focus and determination got him selected and appointed for the coveted government job as a Research Assistant in Bhabha Atomic Research Centre (B.A.R.C), Mumbai in 1983. which is a very big achievement for him, in his family and his Village. He was the first one from the Village to go to Mumbai.
In his words:- My parents didn’t know how to support my education and goals, but they never imposed social or emotional limitations on us. That freedom helped me make a decision to go to Mumbai. I knew that would change the complexion of my family’s economic status and pave the way for my siblings to think big
Dr. Velumani Education –
Dr. Velumani studied at Sri Venkateswara High School, Appanaickenpatti Pudur. He obtained his B.Sc. Degree from Ramakrishna Mission Vidyalaya, affiliated to University of Madras at age 19. He earned a master’s degree and later a doctor’s degree in Thyroid Biochemistry from University of Mumbai while working with Bhabha Atomic Research Centre (BARC), a nuclear research facility based in Mumbai, Maharashtra.
Dr. Velumani Career –
After graduating in 1978, Dr. Velumani Started his new life with a job in 1979 at Gemini Capsules a small pharmaceutical company in Coimbatore, Tamil Nadu as a shift chemist at the age of 20. After three years, the company was shut down. He then worked at Bhabha Atomic Research Centre (BARC) first as a laboratory assistant, and served his work for 14 years. During this time he pursued his Master’s and Doctor’s degree and rose to the rank of scientist. He later was posted at the Radiation Medicine Centre (RMC), a BARC department at Tata Memorial Hospital in Parel, Mumbai, Maharashtra.
During his working career at BARC at age 27, Dr. Velumani married Sumathi, daughter of J. K. Rao and Sarala Rao. Sumathi was working with the State Bank of India until the couple decided to leave their jobs to start Thyrocare. The couple have a son – Anand (born 1989) and a daughter – Amruta (born 1991) who were born during Velumani’s working career at BARC. Sumathi Velumani was diagnosed with pancreatic cancer in October 2015 and died on 13 February 2016 at age 55. Velumani continues to live along with his son and daughter in company quarters situated in the main headquarters of Thyrocare at Navi Mumbai
Dr.Velumani Wife :
Sumathi Velumani is the wife of Arokiaswamy Velumani. She was her backbone in his entrepreneurship journey.
Dr. Velumani net worth –
Dr. Velumani net worth is approx 5000 cr Dr. Velumani’s legacy extends beyond his business achievements.
Dr. Velumani net worth 2024 –
Dr. Velumani Net worth 2024 is approx 6500 cr. Recently, he also lost some money in startups.
Dr. Velumani opening of own company –
Dr. Velumani decided to set up his own thyroid testing laboratory, Thyrocare, in 1996. He introduced a franchisee model in his diagnostic
laboratory and offered affordable testing services. Thyrocare expanded from testing for thyroid disorders to preventive medical checkups and other diagnostic blood tests.
Under his leadership Thyrocare became the largest thyroid testing laboratory, with a network of more than 1000 outlets across India, Nepal, Bangladesh and the Middle East. In April 2016, Thyrocare conducted its Initial Public Offer (IPO) release, achieving over-subscription of 72.86 times.
At 1996, Velumani set up his own thyroid testing laboratory, Thyrocare. Under his leadership Thyrocare became the largest thyroid testing laboratory, with a network of more than 1000 outlets across India, Nepal, Bangladesh and the Middle East.
He also invested in
Velumani Arokiaswamy is an Angel Investor from Mumbai. Prominent investment areas are Energy, Transportation and Logistics, Health-Tech and has invested in startups like Simple Energy, & Pharmeasy.
Dr. Velumani Entrepreneurship Journey –
According to him, his entrepreneurship journey are categorized into three sub stages :-
Initial Stage
It is the time period of creation of Thyrocare, a brand around gland. According to him he has the deep knowledge in Thyroid and only Thyroid, he chose to become a B2B operator for Laboratories. this concept of B2B operation worked very well and shows rapid growth in Mumbai, so he was motivated to diversify the operation of thyrocare to other cities also, and that is how he started building a nationwide, networked and accredited laboratory.
On the backbone of High Trained Freshers, Franchise Networked Laboratory and Technology fuelled system and an intelligent choice of Menu, helped Thyrocare to sustain a 40% EBITDA every single year, compounding at an annual of 25% growth rate, throughout. Thyrocare became one of the most disruptive models the industry had seen in terms of price, logistics, manpower and reach
In 2016, He experienced the highest point of his life and the lowest point of his journey. He was a first Man from Village, he listed his company at the National Stock Exchange (NSE) in May 2016 with a record of 74 times oversubscription. But in the same year, He also lost his wife Sumathi, due to cancer, which made him lose the thrill. he enjoyed the journey with her walking by his side. Though the company continued its mission and growth, deep down and he wanted to explore more.
The Happy Ending
So in 2021, amidst COVID when he got an opportunity to exit, he took the difficult decision to move on while the company reached the unicorn status. It was a beautiful moment to reflect on the journey that began with Rs. 500 in pocket filled with impact, creation and service to a country with a billion people. he found his happy ending and a glorious one.
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