JOIN USCity-based RxPrism, a global healthcare-focussed, digital marketing and customer engagement services and solutions provider, will open a regional innovation hub in the UK, in order to expand its footprint in the UK and EU.
It was one among the 20 startups that was selected in this year’s India Emerging 20 (IE20) programme, which supports Indian companies to grow their international business through London. Dr Maruthi Viswanathan, Founder CEO — RxPrism Health Systems, said, “London was an immediate choice as the place is appropriately positioned to cover the USA and APAC time zones. We have already registered our subsidiary in the UK. Therefore, we aim to complete this expansion plan in about three months from now and get the UK centre functional by this October-December.”
It is planning to invest $2 million in two years. While a part of which would come from the company’s innovation fund, the rest would come from UK-based venture capitalists.
When asked why he chose London, Viswanathan said, “We believe in ‘Innovation through collaboration’, and we prefer to separate the Research and the Development. We constantly validate the progress of our innovation by remaining closer to our customers in the USA, UK, EU, and the APAC, while we bring down the cost of innovation by working out of India,” adding, “We aim to engage five persons in India for every one person employed in the UK.”
He also said that the company will create over 250 job opportunities for software developers and creative specialists in the next two years, with 30% of this strength working in its R&D lab.
He added that more than 15 institutes in the UK offer specific courses in medical technology, and moreover, London’s taxation system is favourable for IP-centric businesses that own patents.
Founded in September 2013, the company offers alternative physician and patient engagement services and solutions to global life science companies. It caters to more than 40 customers in India and over 20 customers overseas. It works with pharmaceutical players like Johnson & Johnson, Pfizer, Sanofi, Abbott, Merck, Takeda and Novartis, among others.
RxPrism has been seeing multi-fold growth over the past three years, with about 50% increase in revenue year-on-year. “Apart from the UK, the company is also planning to set up another innovation hub in the US by the end of next year,” Viswanathan added.