Before 1984 almost 100% of the diagnostic reagents were imported into India. To promote the manufacturing of such reagents in India, Mr. A.J. Thakur founded Accurex Biomedical in 1984 with a vision to be one of the Top 3 world-class Indian medical diagnostics companies.
Headquartered in Mumbai, Accurex was the first company in India to manufacture urine test strips and enzymatic clinical chemistry reagents. This was the beginning of the IVD clinical chemistry manufacturing industry in India. The journey of Accurex since 1984 has been on a growth trajectory. With the continuous launch of innovative products, Accurex has created a brand name in the Indian IVD Industry.
Taking the company forward and keeping its values of Honesty, Perseverance, Prosperity, and Innovation intact through all these years is the current Managing Director, Abhinav Thakur.
Abhinav shares more details about Accurex.
What are the prominent services and products that your company offers?
Accurex provides a plethora of innovative and trustworthy medical diagnostic solutions. In the laboratory diagnostics space, Accurex offers the entire range of clinical chemistry and haematology reagents. In instruments, it offers semiautomated, fully automated clinical chemistry, and 3 part & 5-part haematology analysers. The company also offers urinalysis test strips, urinalysis meters, and immunology rapid tests.
Besides these, Accurex offers blood glucose meters, haemoglobin meters, HbAlc meters, immunofluorescence meters, uric acid meters, and respective test strips in the Point of Care (POC) segment. Moreover, it has recently launched hand sanitizers, face masks, face shields, infrared thermometers, viral transport medium, and COVID-19 rapid antibody tests to fight against the pandemic and fill the void caused by a drop in sales of its routine products.
Being an experienced leader, what is your opinion on the adaptation of newer technological developments to sustain business competency?
It is very important to grow an organization to satisfy the aspirations of all the stakeholders. Growth for an organisation is like what oxygen is for life. Growth is important to sustain an organization. Technological developments are oxygen to an organization since it leads to growth. Without it, the business will cease to exist.
Taking into consideration, the current pandemic, and its impact on global economies, how are you driving your organization to sustain operations and ensuring the safety of your employees at the same time?
Change is inevitable however adaptation and survival are optional.
As an organization, we need to be agile to adapt to the changes happening in the external environment. As we have seen in millions of years of evolution that it’s the species that adapt survives the longest and the species that don’t adapt go extinct. I believe that businesses that innovate and adapt to the changes caused by the pandemic will survive and some may even prosper.
For instance, due to the pandemic, Accurex has converted most of its fixed costs into variable costs since the top-line forecast was uncertain. This helped the company maintain the cash flow to sustain its operations. Consequently, by changing its business model to cater to the needs caused by the pandemic, Accurex plans to sustain and overcome the challenges caused by the pandemic.
For the safety of our office employees in the COIVD hotspot Mumbai, we will continue with work from home until it’s safe for employees to travel to work.
Give us a few testimonials of your clients that accurately highlight your organization’s position in the market.
In today’s digital age online reviews are testimonials which matter most since I believe 90% of customers research products online before they purchase.
On Google, we have 1,146 reviews. This is the highest number of reviews in our industry.
We are proud our google reviews rating is 4.8/5. This validates our high levels of customer service.
About the Leader
The company operations are spearheaded by Abhinav Thakur, Managing Director at Accurex Biomedical. He graduated from the world-renowned University of California-Davis before completing his PGDM at NMIMS University, Mumbai. When he was studying in the USA, unfortunately, his father died untimely at a young age of 49, which led him to join the family business.
Since Abhinav’s appointment as the Managing Director, the company has grown 4.2 times in revenue and the size of the team also increased from 90 to 170 individuals. Over the past decade, Accurex has grown from a diagnostic reagent company to a diagnostics reagents and instruments company.