Arokiaswamy Velumani is an Indian scientist and entrepreneur. He is the founder, chairman and managing director of Thyrocare Technologies Ltd. a chain of diagnostic and preventive care laboratories headquartered in Navi Mumbai.

He worked for BARC for 14 years before setting up Thyrocare with his PF money. From Rs 1 lakh at launch in 1996, his company touched a staggering worth of Rs 7,000 crore in 2021.

Velumani’s stake skyrocketed to Rs 5,000 crore at the time, as per a Forbes report. He sold 66 percent of his stake to PharmEasy parent for Rs 4,546 crore that year. Thyrocare currently has a market cap of Rs 2,500 crore.

Velumani was born in April 1959 to a landless farmer in the village of Appanaickenpatti Pudur, near Coimbatore in Coimbatore district of the Indian state of Tamil Nadu. His mother was a housewife. Velumani studied at Sri Venkateswara High School, Pappanaickenpatti Pudur. He obtained his B.Sc. Degree from Ramakrishna Mission Vidyalaya, affiliated to University of Madras in 1978 at age 19. He earned a master’s degree in 1985 and later a doctor’s degree in Thyroid Biochemistry in 1995 from University of Mumbai while working with Bhabha Atomic Research Centre (BARC), a nuclear research facility based in Mumbai, Maharashtra.

After graduating in 1978, Velumani began with a job in 1979 at Gemini Capsules, a small pharmaceutical company in Coimbatore, Tamil Nadu as a shift chemist. After three years, the company was shut down. He then worked at Bhabha Atomic Research Centre (BARC) first as a laboratory assistant, staying for 14 years. During this time he pursued his Master’s and Doctor’s degree and rose to the rank of scientist. He later was posted at the Radiation Medicine Centre (RMC), a BARC department at Tata Memorial Hospital in Parel, Mumbai, Maharashtra.

Velumani decided to set up his own thyroid testing laboratory, Thyrocare, in 1996. He introduced a franchisee model in his diagnostic laboratory and offered affordable testing services. Thyrocare expanded from testing for thyroid disorders to preventive medical checkups and other diagnostic blood tests.

Under his leadership Thyrocare became the largest thyroid testing laboratory, with a network of more than 1000 outlets across India, Nepal, Bangladesh and the Middle East. In April 2016, Thyrocare conducted its Initial Public Offer (IPO) release, achieving over-subscription of 72.86 times.

Velumani has been honored with numerous awards for his achievements. He was awarded the Padma Shri, India’s fourth-highest civilian honor, in 2016. He was also named one of Ernst & Young’s World Entrepreneur of the Year in 2017.

Velumani is a role model for many entrepreneurs in India. He is a self-made man who has achieved great success through hard work and dedication. He is also a passionate advocate for social causes, such as healthcare and education.

Here are some of the achievements of Arokiaswamy Velumani:

• Founded Thyrocare Technologies Ltd. in 1988
• Led Thyrocare to become one of the largest diagnostic chains in India
• Developed a number of innovative products and services, including a telemedicine platform
• Advocate for preventive healthcare
• Awarded the Padma Shri in 2016
• Named one of Ernst & Young’s World Entrepreneur of the Year in 2017