Under the Guidance of
Professor Rakesh Godhwani
Subject: VAPCare- Nitesh Jangir, founder COEO Labs
I am the founder of COEO Labs. Our company develops advanced medical devices with an emphasis on Trauma, Emergency and Critical Care. In our country, 33% of the patients who stay on long-term mechanical ventilation acquire VAP, a kind of pneumonia which evolves after a patient is on mechanical ventilation for 48 hours or more. Out of the patients that acquire VAP, nearly 45% of them suffer from death due to Ventilator Associated Pneumonia (VAP). Imagine the situation of a patient who had recovered from his initial problem and after that had to take the burden of this additional suffering, which not only increases his expenses but also has the potential to cause his death. Also, this is absolutely unfair to all the hard work that the doctors and nurses have put behind the patient to cure him. This issue can be easily avoided with the use of a superiorly designed system called VAPCare. This is the reason for which I am sending this mail to you today. I believe we can together solve this problem and save the lives of those thousands of people who are suffering from such avoidable deaths. Every detail related to the product is being mentioned in the attached document. I hope you will find this useful.
Thanks & Regards
Founder, COEO Labs
About the product and its opportunity
COEO Labs is into developing innovative medical devices which help the medical industry to serve their patients better. Our company focuses on Trauma, emergency and critical care.
Our product VAPCare is a brilliant secretion management and oral hygiene device targeted towards patients who are on mechanical ventilator inside ICUs. This intelligent device provides a targeted suctioning of secretions and decreases the potential of developing VAP to a huge extent. Our company saw the need for such a system in the market, after identifying the present less efficient operational gaps. In addition to the oral hygiene, this system removes the need for constant care that is to be taken by the doctor and the nurses.
Well, you might be wondering how big the VAPCare market is or how much difference can we create as a company. According to industry data reports, 30 percent of Indians who are put on a ventilator suffer from VAP. Similarly, in the rural parts of the country, 50 percent of child delivery happens outside a care centre (at least 5-10 kilometres away) and has the potential of suffering from VAP. In our country, nearly 600,000 patients acquire VAP every year, out of which 250,000 suffer from death. And these numbers are increasing every year. Therefore, we believe that this product has a big enough market to sustain and at the same time has potential to create a revolution in terms of saving people.
In addition to the death risk, VAP increases the ICU stay of the patient by 6-7 days on an average. This causes an additional spending of around 50,000 INR.
This is not the only product that our company makes. We have a couple of other products in Saans and Sensec which maintains respiration and secretion respectively. These products are doing very well in the market and are already among top-selling medical devices in the country.
VAPCare also got the grant from the Union Govt. under Biotechnology Industry Research Assistance Council within 30 seconds of the pitch, thereby signifying the importance of the product and the idea behind it. The product was also tested in the labs of Biotechnology Industry Research Assistance Council before considering it fit for usage.
COEO Labs had sensed the need for such a product almost 4 years back. Since then, the company had built three prototypes, but unfortunately, all of them had failed in passing the test of BIRAC. The company had learnt a lot in the process and has ultimately made the product which they dreamt of.
We see a positive future ahead for the company and we want to be recognized as the “Intel for VAP”.
Our company envisions to make VAPCare grow from 5,000 pre-orders to a stage of 200,000 orders by the end of this year and eventually be present in all geographical locations of the country to serve each and every patient on mechanical ventilation in ICUs.
Finally, here is what we are looking from you.
We want you to be the part of this journey to improve the healthcare of the country and to make VAPCare one of the most trusted and most sold products of the country. We have already contacted two other investors who are willing to fund us $12.5 Mn. & $9.7 Mn respectively. We are looking for an investment of $10 Mn. from you in two months so that we can run our company smoothly. We promise to give you 25% stake in return. Much of the funded money will be utilized in marketing the product in different parts of the world thereby making it available in every market.
At the end, I would like to say that we are not manufacturing another equipment for the healthcare sector, but, we are in fact leading the revolution in the mechanical ventilator segment. I, as the founder of the company, have always believed in innovation in healthcare. And I see our company as the google or apple in the healthcare industry. If our dream product helps you to visualize a better society, an improved life for people, I would like to urge you to join us in this creation. Thank you for your precious time. Please have a look at our website to find more details about the product.
Nitesh Jangir, founder, COEO Labs