According to the Economic Times, Milind Shah, the India head of Medtronic, now offers its cardiac implants to patients in easy monthly installments. The firm, which started experimenting with the EMI (equal monthly installment) model in 2010 among the poor miners of Durgapur, is now offering the plan through 60 hospitals across 18 cities where patients can buy 10 of its flagship products such as stents, pacemakers and defibrillators.
Medtronic’s direct-to-heart model finds an able parallel in the Tata Capital-backed startup Mya Health Credit that offers personal loans for planned surgeries, in what could be a new wave in Indian healthcare to make super-specialty treatment affordable. Just a month old, Mya disburses loans between $1,400 and $8,300 at an interest rate close to 10 percent with a 12-month term
Established hospital chains such as Metro are pitching in with their own schemes, alongside companies like Medtronic that are bringing to healthcare the world of EMIs, a domain that was so commonly deemed with appliances, vehicles and homes.
Shah of Medtronic says that a patient must have at least one earning member in the family who is ready to take a psychometric test prepared by the company, that would measure his sincerity and willingness to pay back on time in order to qualify for EMI. The test also assesses if a patient really needs the EMI assistance.
What this means
Without a vibrant third party payment system, India’s medical market demands creative solutions. Companies that lead the way will find more profits and a willing, grateful clientele.
Last updated: December 26th, 2025
