Dr Arokiaswamy Velumani, better known as Dr Velumani is one of the biggest names in the diagnostic and preventive healthcare industry. He is the founder and managing director of Thyrocare Technologies Limited. The company’s headquartered in Navi Mumbai and has a massive international presence. Thyrocare Technologies is also one of the biggest companies in India.
However, most people are unaware of Dr Velumani's inspiring story. The journey of a farmer’s son, who faced a lot of difficulties and obstacles in life but was determined to make a living for himself and his family, is truly inspirational.
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Dr Velumani’s success story is nothing less than a movie, as he had no one to support him, and there were times when he even survived days on a single meal. Coming from such conditions, how he has made Thyrocare, the world’s largest thyroid testing company, is truly inspirational. Here’s how he managed to do it.
It was in April 1959 when Dr Velumani was born in a small village, Appanaickenpatti Pudur, Coimbatore, Tamil Nadu. The businessman was born into a farmer’s family. While his father was a farmer, his mother used to earn money by selling milk from their buffaloes. The family wasn’t financially capable of leading a simple life, and there were instances when they couldn’t manage to have three meals a day.
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Despite being a farmer, Dr Velumani’s father knew the importance of education. Hence, he sent his son to Sri Venkateswara High School, where the businessman completed his schooling. After which, Dr Velumani headed to the University of Madras, where he studied B.Sc. He also obtained a Master’s degree in 1985 from the University of Mumbai and chose a doctor’s degree in ‘Thyroid Chemistry’.
After completing his BSc., Dr Velumani had high hopes that he would get a good job so that he could support his family financially. But it wasn’t the case when he stepped into the job jungle. The businessman worked in a small pharmaceutical company, Gemini Capsules, which was the first job of his career. He used to earn Rs. 150, which was less than the salary of that area’s watchman. Dr Velumani accepted the offer despite such unfairness and worked tirelessly for some years.
The businessman used to keep Rs. 50 for himself from his salary of Rs. 150, and he used to telegram Rs. 100 to his family. He worked at the company for four long years, and the company collapsed when he was in the fourth year of his job. It was a scary situation for Dr Velumani as he was jobless all over again.
After losing his first job, Dr Velumani struggled to find a good job for some time. However, after a lot of job hunting, he joined Bhabha Atomic Research Centre (BARC). It was a massive moment for him as he had never thought in his wildest dreams that he would work at India’s premier nuclear research facility. Dr Velumani worked at BARC for 14 years, and during his time at the research facility, he gained a lot of knowledge about science and technology.
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Dr Velumani was always quite interested in studying biochemistry. Hence, when the chance to study a doctorate in thyroid biochemistry came in front of him, he grabbed it without any second thoughts in his mind. After getting into the science of thyroid biochemistry, he got inspired to make thyroid testing more affordable in India. He knew that in India, the population of people, who cannot afford costly thyroid testing is huge, which was why he made it his life’s biggest aim to solve this problem.
Dr Velumani was so inspired by his aim to help the poor section of society, who cannot afford thyroid testing, that he invested Rs. 1 lakh from his PF (Provident Fund) in order to start the firm. It was a massive investment but quite small in front of the businessman, who aimed to solve a million people's major health problem.
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When Dr Velumani opened his firm, the first employee was his wife, Sumathi. The doting wife used to work at the State Bank of India, but she left the job after her husband, Dr Velumani started the firm. Together they started working on their dream of providing affordable thyroid testing to poor people. It was in 1996 when Dr Velumani’s Thyroid Technologies finally started, and after almost 23 years, they have 1,122 outlets and centres across India, the Middle East, Nepal and Bangladesh. For the unversed, the couple has two children, Anand Velumani and Amrita Velumani.
According to several media reports, Dr Velumani’s net worth is estimated to be around the mammoth sum of 323 million USD. Talking about the value of his company, Thyrocare Technologies, it was worth around Rs. 7000 crores back in 2016 as per multiple reports.
What are your thoughts on Dr Velumani’s inspiring journey from being a farmer’s son to being a billionaire? Let us know.
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