1. Introduction
S3V Vascular Technologies Limited, founded in 2011 and headquartered in Mysore, Karnataka, focuses on development and manufacturing of advanced medical devices for cardiovascular and critical-care applications.
S3V became the first company to get the manufacturing license for an expandable titanium-based Intervertebral Body FusionDevice/Expandable Spinal Cage. The First Successful Spinal Implant was successfully done in Pune as well. Currently, S3V is the only company in the world to have this expandable Cage.
2. Business Model
S3V follows a fully integrated model that combines in-house R&D, proprietary technology development, and regulated manufacturing facilities. It caters to both Indian and global markets through direct hospital partnerships, clinician collaborations, and medical-device distributors, ensuring cost-effective, high-quality medical devices.
3. Product Portfolio
S3V manufactures high-end interventional medical products such as:
i) Drug-Eluting Stents (DES) and Bare-Metal Stents
ii) PTCA and Neurovascular Catheters
iii) Esophageal and Biliary Stents
iv) India’s first indigenous Mechanical Thrombectomy Device (for treating brain strokes)
Its innovations are designed to reduce India’s import reliance in the medical-device segment while improving affordability and clinical access.
4. Industry & Market Opportunity
With cardiovascular and neurovascular diseases rising rapidly, India represents a massive demand base for minimally invasive medical devices. The neuro-intervention market alone is a $2-billion segment, currently dominated by imported products. S3V targets this gap through indigenous manufacturing, regulatory compliance (ISO-13485, CE approvals), and reduction of import costs, increasing access in India and emerging markets.
5. Promoter Background – Mr. Badari Narayan
Mr. Badari Narayan,
the promoter of S3V Vascular Technologies, is a seasoned medical-devices expert with over 30 years of industry experience. He holds an M. Pharmacy degree and PGPMAX from ISB, and has worked under Dr. A.P.J. Abdul Kalam in developing India’s lowest-cost cardiac stents. Over his career, he has been instrumental in creating multiple breakthrough products, including 316LVM stents (1999), Cobalt-Chromium stents (2004), Paclitaxel DES (2005), Sirolimus DES (2006) and PTCA catheters.
Dr. Vijaya Gopal
He is a qualified MBBS and Vishnu Shreyas N.G and is a qualified engineer, are both Badari Narayan’s sons who are heading the R&D and Operations divisions ofthe business respectively. The second generation is already in the business for the last five years.
6. Strategic Capital Raise (2024)
S3V raised ₹110 crore in March 2024 at a pre-money valuation of ₹228 crore, with capital allocated toward debt reduction, working capital needs, and expansion of its manufacturing facilities. Following the round, the company’s post-money valuation stood at ₹338 crore, valuing its shares at ₹176 per share.
Key investors included A.M. Naik, L&T Group executives (₹35+ crore), Madhusudan Kela & team (₹25+ crore), and Marquee names such as Utpal Sheth (Rare Enterprises) and Sumit Jalan (Credit Suisse).
7. Government-Backed Expansion Initiative (2025)
S3V Vascular Technologies has received support from the Technology Development Board (DST) to build India’s first indigenous mechanical thrombectomy device for stroke treatment. A dedicated 12-acre Neuro Division facility is being set up at Tamil Nadu Medical Devices Park.
-
Prototype ready; commercial production begins December 2025
-
Sales expected from Q4 FY26
-
Full market impact visible by FY27
8. Growth Strategy
S3V is pursuing:
i) Scaling exports with global regulatory approvals (CE, US FDA)
ii) Expanding neurovascular manufacturing capacity
iii) Increasing clinical adoption with domestic cost advantages
iv) Strengthening innovation through collaboration with hospitals & clinicians
... Read more