Board of Directors

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LifeSpring Hospitals’ Board of Directors provides critical leadership, advice, and support for our work. The board plays a pivotal role in helping LifeSpring expand and scale.


Dr M Ayyappan, Founder Chairman

Dr. M. Ayyappan was the Chairman & Managing Director of HLL Lifecare Limited. He is also the Founder Chairman of LifeSpring Hospitals Pvt .Ltd., and Founder Chairman of Hindustan Latex Family Planning Promotion Trust – one of the largest Social Marketing Organizations in India today. He has retired in 2016.

Additionally he is also the Director, Rehabilitation Plantations Ltd., a joint venture of Govt. of India and Govt. of Kerala, Vice-Chairman of Centre for Management Development, Trivandrum, an autonomous body formed by Govt. of Kerala for the promotion of management studies, A Fellow member of All India Management Association, Member of the Board of Studies, Future Studies, and also of the Quality Advisory Committee of the University of Kerala and Member of the Board of Studies, TKM Institute of Management and Noorul Islam University.

A Mechanical Engineering Graduate from College of Engineering, Trivandrum, Dr. Ayyappan obtained MBA degree from Cochin University of Science & Technology. In his career, spanning over three decades, he has been associated with several organizations.

Dr. Ayyappan started off his career in Hindustan Motors, Madras. In 1991, he joined HLL as the Head of Marketing. As Head of Marketing, he was instrumental in setting up and developing a strong marketing team and premium brands, which set the stage of HLL’s rapid growth as a marketing organization par excellence of a wide range of contraceptives and healthcare products. He was also instrumental in setting up a vibrant International Business Division that has spearheaded the presence of HLL’s contraceptives and healthcare aids in over 115 countries world over.

After steering the marketing functions of the company for over 12 years, Dr. Ayyappan became the Chief Executive of HLL in the year 2003. In the course of last ten years he has been leading the company; it witnessed rapid unprecedented business growth with a CAGR of 36%.

Dr. Ayyappan has a penchant for innovation and technology development and this has evidenced itself in the sound R&D base of the company. His clear vision had placed the company on an audacious goal Rs.10000 million turnover and propelled it to embark on newer business opportunities in Bio-sciences, Heath care service delivery, infrastructure management and pharmaceuticals. With long years of industry experience and a deep passion for the academic aspect of Management Science, he is a mentor and teacher to the budding managers, academics and corporate.


Mr. Ajit Mahadevan, Director

Ajit is currently India Director, Acumen India.

As India Director, Ajit is responsible for all India related investments, operations and business development. He brings not only significant M&A advisory expertise to the role, but a passion for team development and clear alignment with Acumen’s values.

Prior to this role, Ajit has served as Partner & Head, Business Advisory Services (Life Sciences) at Ernst & Young for the past six years. Prior to his time at E&Y, Ajit was President of Piramal Healthcare, one of the leading pharmaceuticals companies in India, where he built the international business from inception in 2002 to $300M by the end of 2008. During his tenure at Accenture’s Strategic Services practice in UK and India, he led the development of one of the firm’s largest and most successful internal projects – the Offshore Development Centre in 2001, which has now grown to about 100,000 people across multiple cities in India.

Ajit holds an undergraduate degree in Computer Sciences from PSG College of Technology, India and a Masters of Business Administration from Carnegie Mellon University (Tepper School of Business).He is the India Head of Acumen Fund, US.


Ms Karuna Jain, Director

Karuna joined Acumen in July 2012 to grow & manage the healthcare portfolio and also to develop the affordable housing portfolio in India. Prior to this, Karuna has 2 years of investing experience with the $175mn Aditya Birla private equity fund and $600mn Milestone Capital real estate fund. She has also spent 4 years with the Aditya Birla Group and Dr. Reddy's Laboratories in textiles, cement and pharmaceuticals businesses across finance and M&A roles. Karuna earned her post graduation in management from the India School of Business (ISB), Hyderabad. She is also a qualified Chartered Accountant.


Mr. Khandelwal R P, Chairman

Mr Khandelwal R. P. took over as Chairman of LifeSpring Hospitals consequent to the retirement of Dr M Ayyappan. He is the Chairman & Managing Director (Additional Charge) and Director (Finance) of HLL Lifecare limited (HLL), a schedule B miniratna category – I PSU under Ministry of Health & Family Welfare. He is also the board member of Hindustan Latex Family Planning Promotion Trust (HLFPPT), a trust promoted by HLL and HLL Biotech Ltd. (A subsidiary of HLL) He is a graduate in Chemistry with MBA in Finance from BIT MESRA. He also holds the professional qualifications AICWA, ACS & LLB. He is a member of ICAI, ACSI, ICMA and AIMA.

He joined in HLL Lifecare Ltd as Director (F) in May 2009. He provides leadership of Company’s Corporate Finance functions. He is also leading the services business groups of the company comprising Infrastructure Service Division, Procurement Consultancy Division & Healthcare Service Division. Prior to joining HLL he was Director (Finance) at Hindustan Insecticides Ltd, where he was instrumental in turning around the sick company and bringing out the company from the clutches of BIFR. He spent 22 years in SAIL contributing in various disciplines viz Materials Management, Techno-economics, Finance, Board & Company Affairs and headed shares department. He left SAIL as Sr. Dy Director (Finance) – in charge of Project Finance & JV Group.

Recognising his robust contribution in activities of profession of Cost & Management Accountancy, he was bestowed with award for the “Outstanding contribution in profession” by the Institute of Cost Accountants of India (ICAI) in July 2012.


Dr. M.D. Nair, Director

Dr.M.D. Nair, has a Ph.D. Degree from University of Illinois, USA. He has worked extensively on new drug development, patents, documentation, information systems and planning, control of production, marketing and clinical trials. Dr. Nair was instrumental in setting up largest antibiotic complexes in India for SPIC. Besides Authoring over 80 publications in various national and international journals, he is the holder of several patents on new therapeutic agents and has co-authored three books. He has been consultant to WHO for setting up pharmaceuticals projects in Middle East and on traditional machines in New Delhi, Bangkok and Jakarta. He has been an advisor to government and private organisations on science and Technology and Director of the board of many pharmaceutical companies. Dr. Nair has developed conceptual and novel approaches for the Indian Industry to become a global player in R&D, Technology Development, production and marketing of healthcare products and services


Mr. Sadeesh Raghavan, Director

Mr. Sadeesh Raghavan is formerly Managing Partner of Accenture’s India Domestic Business, as well as Accenture’s Managing Partner of North Asia and South Asia Products Practice. He has over 24 years of experience in the consulting industry, having worked in many countries across Asia Pacific and the USA. He has also worked closely with government agencies and the local manufacturing industry associations. He is a frequent speaker at industry conferences on Asia Pacific. Mr. Raghavan obtained his bachelor’s degree in electrical engineering from the Indian Institute of Technology, Madras, India. He has an MBA in Finance and MIS from the University of California at Los Angeles (UCLA).

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