What Panacea Medical Technologies does

Panacea Medical Technologies Pvt. Ltd. is a privately held Indian MedTech manufacturer, founded in 1999 and headquartered in Malur, Kolar District, Karnataka, with a registered office in Bangalore. The company designs and produces radiotherapy and radiology capital equipment for cancer diagnosis and treatment, serving hospitals and cancer treatment centers primarily across South and Southeast Asia and East and West Africa. Its portfolio is organized into two segments: Radiation Oncology (Bhabhatron II, Bhabhatron 3i, Bhabhatron MLC, Siddharth II, Q-ri, IMAGIN, KLEO, and Impact patient positioning) and Radiology/Women's Health (KLEARAY digital radiography and the Lilac mammography family with tomosynthesis). The flagship Bhabhatron platform was co-developed with BARC (Bhabha Atomic Research Centre) and represents indigenous cobalt-based radiotherapy technology that competes on cost against linear accelerators in price-sensitive emerging markets.

Commercially, Panacea operates a direct enterprise sales model with quote-based pricing on capital equipment, supported by post-sale service contracts and a dedicated field service operation. The company has deployed 100+ radiotherapy machines that have treated more than 280,000 cancer patients globally, and Bhabhatron units have been donated through the Government of India to eight IAEA member countries. All major product lines hold CDSCO MD9 and AERB Type Approval for the Indian market, with several conforming to IEC international standards. The company is led by GVS Manyam as Managing Director and CTO and employs 51–100 people. Strategic positioning emphasizes affordability and access for under-served populations, ESG-aligned manufacturing (Panacea 2030 Climate Targets), and engagement with India's broader MedTech export agenda targeting a USD 30 billion sector by 2030. No revenue, recent funding, M&A, or executive changes beyond a 2013 New Enterprise Associates investor reference are disclosed.

Name

Panacea Medical Technologies

Legal name

Panacea Medical Technologies Pvt. Ltd.

Website

https://panaceamedical.in

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

51–100 employees

Short description

Panacea Medical Technologies is a privately held Indian MedTech manufacturer, founded in 1999, that designs and sells radiotherapy and radiology capital equipment — including the Bhabhatron cobalt platform co-developed with BARC and the Lilac mammography line — to hospitals and cancer centers across South/Southeast Asia and Africa.

Ownership category

akta.pro rank

Product category

Radiation Oncology and Radiology Medical Equipment

NAICS

Irradiation Apparatus Manufacturing (334517), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845), X-Ray Apparatus & Tubes & Related Irradiation Apparatus (3844)

akta.pro primary industry

Interventional Radiology & Image-Guided Therapy Systems (HLAHABAG)

akta.pro secondary industries

Radiation Oncology (HLAKAFAC), Radiation Therapy Isotopes & Sources (Brachytherapy seeds, sealed sources for oncology) (EUAKAIAD)

Keywords

• Radiotherapy equipment
• Radiology equipment
• Cancer treatment systems
• Medical imaging devices
• Radiation oncology

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Medical Equipment Sales: Capital equipment sales of radiotherapy and radiology systems including Bhabhatron series, Siddharth II, Q-ri, Imagin, KLEARAY, and Lilac mammography systems. Sales model involves direct enterprise engagement with hospitals and cancer treatment centers.
2. Service and Support: Post-sale technical support, installation, maintenance, and service contracts for installed base of 100+ radiotherapy machines. Dedicated service phone line (+91 735 375 3660) indicates ongoing service revenue stream.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Panacea Medical Technologies manufactures radiotherapy and radiology capital equipment for cancer diagnosis and treatment. Its portfolio includes cobalt-based teletherapy units (Bhabhatron II, 3i, MLC), a linear accelerator (Siddharth II), an HDR brachytherapy afterloader (Q-ri), a CBCT-enabled radiotherapy simulator (IMAGIN), digital radiography systems (KLEARAY), and mammography systems (Lilac cassette, digital, and FFDM with tomosynthesis), sold to hospitals, cancer treatment centers, and women's health imaging facilities.

Product overview

Panacea Medical Technologies is a technology-centric company that manufactures radiotherapy and radiology equipment for cancer care. Their product portfolio consists of two main categories: Radiation Oncology products including Bhabhatron II (telecobalt therapy), Bhabhatron 3i (IGRT gamma therapy), Bhabhatron MLC (multileaf collimator), Siddharth II (MV beam therapy), Q-ri (HDR brachytherapy afterloader), IMAGIN (radiotherapy simulator with CBCT), and KLEO; and Radiology/Women's Health products including KLEARAY (digital radiography), Lilac FFDM with Tomosynthesis, Lilac Digital Mammography, and Lilac Cassette Mammography, plus supporting accessories like Impact (patient positioning) and View-Mam 3D (QA phantom). The company also offers quality assurance solutions for both radiation oncology and mammography.

Differentiator

Problem solved

Functional benefit

Brands

• Bhabhatron: Cobalt-based radiotherapy treatment systems including Bhabhatron II, Bhabhatron 3i, and Bhabhatron MLC variants.
• Lilac
• Siddharth
• KLEARAY
• Q-ri
• Imagin
• KLEO

Products and services

• Bhabhatron II Telecobalt therapy unit for radiation treatment of cancer patients, featuring asymmetric collimation with independent jaws and trimmers for precise beam shaping up to 35x35 cm field size. Targets hospitals and cancer treatment centers and is CDSCO MD9 and AERB type approved with IEC standards compliance.
• Bhabhatron 3i Image-guided radiation therapy (IGRT) system on a cobalt platform enabling 3D-CRT and FiF-IMRT treatments, with ring gantry design, 6D robotic couch, and integrated imaging for precise, non-coplanar treatments at MLC speed of 2.5 cm/sec. Sold to hospitals and cancer centers requiring advanced cobalt-based IGRT.
• Bhabhatron MLC Multileaf collimator system combining cobalt platform robustness with precise 3D conformal dose delivery, featuring arc therapy and an integrated record-and-verify system. Targets radiation oncology departments needing state-of-the-art 3D conformal precise dose delivery on a cobalt platform; CDSCO MD9 and AERB type approved.
• Siddharth II MV Beam Therapy linear accelerator system for advanced radiation treatment delivery. Sold to hospitals and cancer centers needing linac-based external beam radiotherapy.
• Q-ri HDR Brachytherapy Afterloader 24-channel HDR brachytherapy system supporting multi-catheter treatments with up to 100 dwell points per channel across 600 mm, automatic channel switching, emergency source retraction, and an integrated radiation detector for real-time source monitoring. Targets cancer centers performing precision internal radiation therapy.
• IMAGIN Radiotherapy Simulator Advanced flat panel radiotherapy simulator with CBCT capability for target delineation, treatment planning simulation, and patient position verification before treatment delivery, providing sub-millimeter precision compatible with any treatment machine. Targets radiotherapy departments; AERB type approved and CDSCO MD9 licensed.
• KLEO Radiation oncology treatment system from Panacea's product portfolio for cancer treatment delivery in hospitals and oncology centers.
• KLEARAY Digital Radiography System Wall-mounted motorized digital radiography system with advanced imaging, auto-stitching for full-spine/leg imaging, and seamless PACS/DICOM connectivity. Targets hospitals and diagnostic imaging facilities for general radiographic imaging.
• Lilac FFDM with Tomosynthesis Full-field digital mammography system with wide-angle 60-degree tomosynthesis, 29 projections, dose-equivalent 3D imaging, and Clear-View review workstation for accurate breast cancer diagnosis at every tissue depth. Targets women's health imaging centers and diagnostic facilities; CDSCO approved and AERB type approved.
• Lilac Digital Mammography State-of-the-art digital mammography platform designed for early breast cancer detection with high-quality imaging, intuitive workflow, and a flexible upgrade path to 3D tomosynthesis. Targets hospitals and women's health centers; CDSCO approved and AERB type approved.
• Lilac Cassette Mammography Cassette-based mammography unit with ergonomic design, gridless technology using air gap scatter removal, and variable compression speed for patient comfort. Targets diagnostic imaging facilities performing screening mammography; CDSCO approved and AERB type approved.
• Impact Patient Positioning System Patient positioning system for accurate and reproducible patient setup during radiation therapy treatments, sold as a standalone accessory to radiotherapy departments.
• View-Mam 3D Mammography QA Phantom Mammography tomosynthesis phantom used for acceptance testing, daily quality assurance, and routine quality checks with 3D image quality and DBT testing capabilities. Sold to mammography facilities for QA workflows.

Quantifiable outcome

• 100+ radiotherapy machines deployed across multiple regions
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• BARC (Bhabha Atomic Research Centre)coreStrategic or Co-development PartnerBhabhatron II, Panacea's flagship radiotherapy product, was developed in collaboration with BARC (Bhabha Atomic Research Centre), Mumbai. This government research institution partnership enabled development of India's indigenous cobalt-based radiotherapy technology.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Elekta: Swedish-headquartered manufacturer of linacs (Versa HD, Elekta Unity MR-linac), Gamma Knife, and brachytherapy afterloaders (Flexitron). Overlaps directly with Panacea across cobalt/linac replacement and HDR brachytherapy, especially in LMIC markets.
• Accuray: Makes CyberKnife and TomoTherapy radiation therapy systems. Competes in advanced radiotherapy with Panacea's Bhabhatron 3i IGRT and Siddharth linac in emerging-market hospital tenders.
• Eckert & Ziegler BEBIG: European manufacturer of HDR/PDR brachytherapy afterloaders and Co-60 / Ir-192 sources. Directly comparable to Panacea's Q-ri brachytherapy platform and Bhabhatron cobalt source business.

Broad incumbents

• Philips Healthcare: Major player in women's health imaging (MicroDose mammography) and diagnostic radiology. Competes with Panacea's Lilac and KLEARAY product lines for hospital imaging budgets.
• Siemens Healthineers: Broad medical imaging and now radiotherapy portfolio (post-Varian acquisition). Overlaps with Panacea across mammography, simulation, and increasingly linear accelerators.
• Hologic: US-based leader in women's health imaging, including the 3Dimensions mammography system with tomosynthesis. Direct competitive overlap with Panacea's Lilac FFDM with Tomosynthesis in breast cancer screening tenders.
• Varian Medical Systems (Siemens Healthineers): Global leader in linear accelerators, treatment planning software (Eclipse), and oncology information systems. Directly competes with Panacea in external beam radiotherapy tenders worldwide, with a far larger portfolio and service footprint.
• GE HealthCare: Major incumbent across mammography (Senographe Pristina), digital radiography, and broader imaging. Competes with Panacea's Lilac mammography and KLEARAY DR systems in hospital procurement.

Emerging players

• Mevion Medical Systems: Makes compact proton therapy systems (MEVION S250). Adjacent emerging player in advanced radiation therapy, competing for next-generation radiotherapy capital in the same hospital segment as Panacea.
• ViewRay: Developer of MRIdian, an MRI-guided radiation therapy system. Adjacent emerging competitor in image-guided radiotherapy, overlapping with Panacea's IGRT positioning on Bhabhatron 3i.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/panacea_medical
• YouTubeyoutube.com/channel/UCwJ1DoSac5FT6VLVR6TJQ-A
• Facebookfacebook.com/PanaceaMedicalTechnologies
• LinkedInlinkedin.com/company/panacea-medical-technologies-pvt-ltd
• Instagraminstagram.com/panacea_medical_technologies_

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Panacea Medical Technologies