Company Profile: Everrtech Software Private Limited

Background

Established in 2014, Everrtech Software Private Limited is a prominent player in the medical imaging software industry, specializing in Picture Archiving and Communication Systems (PACS). The company's mission is to develop innovative, flexible, and PACS-neutral image management solutions that empower healthcare enterprises by enhancing control over clinical image data and facilitating seamless integration. With a global presence spanning over 25 countries and more than 50,000 installations, Everrtech has solidified its reputation as a reliable partner in the healthcare sector.

Key Strategic Focus

Everrtech's strategic focus centers on delivering comprehensive medical imaging solutions that address interoperability challenges within healthcare enterprises. The company specializes in developing PACS-neutral image management systems, ensuring compatibility with existing IT infrastructures. Key technologies utilized include DICOM integration and cloud-based platforms, targeting markets in Asia and the Middle East. Everrtech's commitment to adhering to global standards such as HIPAA, IHE, ISO 27001, ISO 13485, and FDA 510(k) underscores its dedication to quality and compliance.

Financials and Funding

As of the fiscal year ending March 31, 2023, Everrtech reported a 46.31% increase in revenue. However, the company experienced a significant decrease in profitability, with a 897.18% decline in profit, and a 32.53% reduction in net worth. The company has an authorized share capital of ₹20 million and a paid-up capital of ₹5 million. In July 2023, Everrtech secured a ₹10 million loan from HDFC Bank Limited, indicating ongoing financial activities to support its operations and growth initiatives.

Pipeline Development

Everrtech offers a suite of medical imaging solutions, including:

Radiology Solutions: Comprehensive support for distributed environments requiring global worklist access.

Cardiology Solutions: Integrated solutions for cardiology departments, including cath lab integration.

Teleradiology: A portfolio catering to various radiologists' needs, facilitating remote diagnostics.

Endoscopy Solutions: Upgrades existing systems to endoscopy PACS solutions, combining relevant imaging modalities.

AI Solutions: Incorporation of artificial intelligence to enhance diagnostic accuracy and workflow efficiency.

These products are continually developed to meet the evolving demands of the healthcare industry.

Technological Platform and Innovation

Everrtech's technological platform is distinguished by its adherence to international standards such as DICOM and HL-7, ensuring seamless integration with existing healthcare systems. The company's proprietary technologies include:

Fusion RIS PACS Software: A robust and scalable solution leveraging the latest advancements in medical imaging and information management technology.

CardioWorks Cardiology PACS: A comprehensive solution designed for cardiology departments, integrating cath lab functionalities.

These innovations underscore Everrtech's commitment to enhancing imaging workflows and improving patient outcomes.

Leadership Team

Everrtech's leadership comprises experienced professionals dedicated to advancing the company's mission:

Prakash Padmalwar: Managing Director with over 27 years in imaging solutions, focusing on comprehensive and user-friendly solutions.

Shital Padmalwar: Director of Software Development, leading the implementation of latest technologies in Everrtech's solutions.

Ram Adke: General Manager of OEM Business & Operations, integrating market requirements into the suite of solutions.

Sandeep Gaddam: Director of Business Development with over 25 years in the imaging market, maintaining relationships with industry leaders.

This team collectively drives Everrtech's strategic initiatives and operational excellence.

Leadership Changes

In April 2024, Sandeep Dattatraya Gaddam was appointed as an Additional Director, bringing his extensive experience in the imaging market to the board.

Competitor Profile

Market Insights and Dynamics

The global medical imaging software market is experiencing significant growth, driven by technological advancements and increasing demand for efficient diagnostic tools. Key trends include the integration of artificial intelligence, cloud-based solutions, and interoperability standards.

Competitor Analysis

Everrtech operates in a competitive landscape alongside companies such as:

Infosys: A global leader in consulting and IT services, offering healthcare solutions.

TCS: Provides comprehensive IT services, including healthcare software solutions.

Wipro: Offers a range of healthcare IT services and products.

These competitors focus on various aspects of healthcare IT, including medical imaging solutions, and have established significant market presence.

Strategic Collaborations and Partnerships

Everrtech collaborates with a network of distributors, system integrators, OEMs, and vendors, particularly in emerging markets across Asia and the Middle East. These partnerships enhance the company's market reach and facilitate the delivery of tailored solutions to diverse healthcare enterprises.

Operational Insights

Everrtech's commitment to customer-centric solutions, adherence to international standards, and focus on interoperability provide distinct competitive advantages. The company's scalable and customizable products cater to the unique needs of healthcare facilities, ensuring seamless integration and improved patient care.