The MRI Wizard The company has been making healthy profits and in the coming years after the company achieves its set goals and revenue target, Paras' aspiration is to take Kryptonite public
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Fascinated seeing great companies like Sony, Coca-Cola, Apple since childhood, Paras realized that he was born to create a great business while he was in business school learning things about business. Paras is of the opinion he wanted to create a business to genuinely help the world as certain books and authors like Jim Collins and pioneers like Steve Jobs have influenced him through the process. Kryptonite Solutions has created products that are revolutionary, one of which allows patients to watch movies inside MRI while the scan is going on. "This has just been out of the world experience, especially for patients who are claustrophobic. Our company has been one of the few pioneers of the world having this product & we have made it reachable to a sizeable number of hospitals" says Paras.
The company has had a total of more than 250 customers combined for all products worldwide. The company's major clientele would include all big hospitals in India such as Breach Candy Hospital, Fortis Hospital, BLK Hospital, HN Reliance Hospital, Max Hospital. Big imaging centers such as Mahajan Imaging. Worldwide hospitals: KK Women's & Children's Hospital in Singapore. The company's strategic clients, however, are MRI OEM giants - GE Healthcare & Siemens Healthineers. No story is complete without its fair share of ups and downs and in Paras' case, the high of the company is when its 50th installation of their system was completed and when they saw the smile of the patients after their MRI scans were over. According to Paras, one of the patients did not want the scan to end as he was having fun. "The lows, there have been times where I was completely confused and lost the track where I was leading to with this company. There were times when we worked on the product for more than a year and the product would fail again and again. I believe the most important thing for any entrepreneur is to have perseverance to stand up again after every fall or a failed product and create something new which the world would love" says Paras.
2020 has been a turbulent year especially with the second wave affecting businesses, trade, etc. Paras is of the opinion that 2021 has been a turning point for the business as 2021 was a time where businesses were hit due to COVID and things were slow on the front end. The company got a chance to work hard backstage and was fueled by some of the best product development companies; it came up with its own line of products in the radiology segment with the company's vision of going global. The company is on a track to reach its highest revenue to date in 7 years with its new products and new global markets. The company has been making healthy profits and in the coming years after the company achieves its set goals and revenue target, Paras' aspiration is to take Kryptonite public.
According to Paras, the company was bootstrapped with its own funds and they would love to have an investor on board and are looking forward to being mentored& taking the company to more heights by raising funds. Also, the company is working on some innovations which would be released after the regulatory approvals. The radiology industry specifically MRI is booming across the world as diagnostics is the future in the medical industry and opening up to new markets is going to be the main trigger for good company growth.