Rebuilding Healthcare,
One Breakthrough at a Time

Kaustav Ganguli is a Managing Director with Alvarez & Marsal and leads the healthcare practice in India. He has more than 15 years of experience in consulting and industry across the healthcare, life sciences, education and business services sectors.

Mr. Ganguli has advised on 70+ engagements across the healthcare value chain, spanning hospitals, single specialty models, primary care, home care, day care, urgent care, diagnostics, pharmacy, health IT, health education, medical equipment and devices and health insurance. He has also advised on transactions in the healthcare provider space, including multi-specialty hospital chains and single specialty and outreach formats such as primary care, dialysis, IVF, day care, urgent care, mother and child care and diagnostics.

His key healthcare assignments include: commercial and operations diligence and advising on a transaction in a large GCC-based healthcare chain; market assessment and business plan development for an online university in Kuwait; formulating strategy for entry into healthcare for one of the largest corporate groups in India, involving detailed evaluation of 47 different healthcare business models across various segments; concept evaluation and business planning for diabetes care for one of the largest healthcare service providers in India; advising one of the largest medical device companies in the world on several strategic aspects viz. partnership opportunities, distribution model and PPP opportunities for their business in India; growth strategy and business modeling for a player offering an integrated POC diagnostics solution; India entry strategy and business planning for several foreign healthcare players – leading healthcare service provider from Japan, large global healthcare service provider from Malaysia, health insurance company from South Africa, healthcare IT and analytics company from Europe, primary care players from the U.S. and the U.K., diagnostics company from Japan; assisting one of the largest healthcare foundations in the Asia-Pacific region in their foray into medical education and training; healthcare training market entry strategy development for a large medical equipment player in India; advising one of the most prestigious healthcare groups in India in developing the concept and business plan for a healthcare knowledge park with elements of delivery, education and research; and, leading a commercial and operations diligence project across eight countries for potential acquisition of an international medical technology player by a PE-investee Indian medical technology company.

He earned a bachelor’s degree in instrumentation engineering from Jadavpur University, India, and an MBA from SP Jain Institute of Management and Research, India.

Ram Panda is a Managing Director with Alvarez & Marsal Business Transformation Services in Mumbai. He brings more than 14 years of experience in consulting and industry across healthcare and allied sectors. Mr. Panda specializes in commercial and operational due diligence, entry and go-to-market strategy, post-deal value creation, process and operational improvement in healthcare and allied sectors.

Mr. Panda has advised on 50+ engagements across various segments of healthcare and allied sectors including multispecialty hospitals, single specialty hospitals, diagnostic companies, and medical devices. He has advised private equity funds on their investments across healthcare segments across India, Middle East, Africa and South East Asia. 

Some of Mr. Panda's clients include private equity funds such as BPEA-EQT, TPG, Everstone, Partners Group, Advent International, Bain Capital, Blackstone, Temasek, General Atlantic, OTPP, Quadria Capital, Multiples, Goldman Sachs, Morgan Stanley, Chryscapital, Affirma Capital, 360 One, Lighthouse, BII and leading corporates such as Manipal Health, Sun Pharma, Fujifilm, Krishna Institute of Medical Sciences, Tynor, Medtronic, Translumina, Wolters Kluwer and George Institute of Research

Prior to joining A&M, Mr. Panda spent close to two years with the advisory team at PricewaterhouseCoopers Pvt. Ltd. in Mumbai. Prior to that, he worked in the strategy and business development teams at large conglomerates in India focused on healthcare-related activities. 

Mr. Panda earned a bachelor’s degree in engineering from Andhra University, India and a postgraduate diploma in management from the Indian Institute of Management (IIM), India

 

Akash Kedia is a Managing Director with Alvarez & Marsal Business Transformation Services in Mumbai. He focuses on the life sciences sector and specializes in driving large-scale transformation programs. His primary areas of concentration are driving business growth, improving profitability, and building future-fit capabilities for clients.

With more than 20 years of consulting and industry experience across pharma, wellness, and consumer goods clients, Mr. Kedia brings expertise across both strategic and operational elements. He has led multiple programs across business and operations strategy, digital transformation, revenue growth, and operational excellence.

Prior to joining A&M, Mr. Kedia led the life sciences industry vertical for Accenture in India and was responsible for growing its consulting and digital business. During his time at Accenture, he led multiple complex value enhancement transformation programs with clients across India, the U.S., Southeast Asia, and the Middle East. His clients included leading corporates and private equity investee companies. Prior to Accenture, he worked with Mercer and Shell.

Mr. Kedia earned a bachelor’s degree in computer applications from DAVV, Indore, and an MBA from Management Development Institute (MDI) Gurgaon.

Amit Misra is a Managing Director with A&M’s Healthcare and Life Sciences practice in Mumbai. He brings more than 20 years of experience in management consulting across the pharmaceutical value chain, including salesforce effectiveness, omnichannel engagement, distribution optimization and operational efficiency. He focuses on helping pharmaceutical companies leverage the power of new digital technologies to drive better outcomes.  

Mr. Misra has also had significant exposure with clients across the human health spectrum, including providers, payors and device manufacturers.  

Mr. Misra specializes in working with pharmaceutical organizations, advising them on commercial transformation, sales force excellence, organization restructuring, and digital transformation. He has also worked with PE funds, guiding them in investment decisions related to pharma assets. Mr. Misra has led large and complex engagements related to performance improvement, business strategy and organizational transformation in India, the U.S., Europe, and emerging markets.  

Prior to joining A&M, Mr. Misra worked in leadership roles with pharmaceutical consulting practices at EY, Accenture and BCG and in operator roles with Ranbaxy and Wockhardt. His notable assignments include development and implementation of the largest doctor-engagement platform in India, commercial transformation of large and mid-size pharma salesforces, and driving operational efficiency programs at large pharmaceutical companies. He has also advised his clients on marquee pharmaceutical and healthcare deals.  

Mr. Misra earned a bachelor’s degree from the University of Lucknow and an MBA from IIFT Delhi.  

Ashish Bansal is a Managing Director with Alvarez and Marsal’s Global Transaction Advisory Group in Delhi, and serves as the practice’s Co-Head in India.

Mr. Bansal brings more than 19 years of experience in transactions. His primary area of concentration is financial due diligence in an integrated approach with commercial, operational and ESG diligence.

Mr. Bansal has advised private equity funds and corporate buyers on buy- and sell-side and on domestic and cross-border transactions. He has worked across a range of sectors, including healthcare, life sciences, auto components and diversified industrials, consumer and retail.

Prior to joining A&M, Mr. Bansal was at KPMG India for over 19 years in their Deal Advisory practice, specializing in transaction services, where he most recently served as a Partner. He was also the sector head for healthcare and life sciences for Deal Advisory and in the past led their M&A Consulting team.

Mr. Bansal earned a bachelor’s degree in commerce from Delhi University. He is a member of the Institute of Chartered Accountants of India.

Mohit Khullar is Managing Director and Leader of Alvarez & Marsal Corporate Finance in India. He specializes in private equity, M&A, and structured finance transactions.

With over 21 years of experience, Mr. Khullar has an established track record in the transaction advisory space. He has led marquee transactions across healthcare, consumer, business services, and industrials sectors. He has developed and led high-performing teams while also cultivating strong relationships with founders, CXOs, and financial sponsors.

Prior to joining A&M, Mr. Khullar served as Managing Director at o3 Capital and worked with Equirus Capital and Standard Chartered Bank. Additionally, he cofounded a healthcare technology business, where he served as CEO, garnering multiple industry accolades.

Mr. Khullar earned a bachelor’s degree in electronics and communications from Netaji Subhas University of Technology, Delhi, and a postgraduate diploma in management from the Indian Institute of Management, Lucknow. He is an alumnus of the Rashtriya Indian Military College and has served on the Governing Council of NATHEALTH, a leading Indian healthcare industry federation.