Women in Health Innovation Spotlight: Dr. Renu Bhatia
With over 25 years of experience in health care, finance, financial technology, and more, Dr. Renu Bhatia is currently the Chairman of The Listing Committee of the Hong Kong Stock Exchange, the Chairman and Co-Founder of Opharmic Technology, Hong Kong, and the Independent Non-Executive Director of HutchMed, a commercial-stage, biopharmaceutical company.
Born in India and raised in London, Dr. Renu Bhatia has lived and worked across three continents. She moved to Hong Kong from New York over 30 years ago and now calls the city home. Trained as a medical doctor in the UK, she began her career working in the National Health Service before realizing her passion lay in understanding the broader systems behind clinical decisions—what she called "the economics of healthcare." This curiosity led her to pursue an MBA at Yale University.
Outside of health innovation, Dr. Bhatia is also the co-founder of Asia Fintech Angels, a financial technology-centered company that invests in early-stage fintech companies. She attended the University of Hong Kong for her Post Graduate Diploma in Therapeutics and Internal Medicine, the University of London for her Bachelor of Medicine and Bachelor of Surgery (M.B.B.S.), and attended Yale University for her Master of Business Administration.
1. How did this path from medicine to business to entrepreneurship lead you to co-found Opharmic Technology, specializing in the development of ultrasound-based solutions for a variety of therapeutic areas? What gap in the healthcare market did you see that inspired this venture?
Roughly 28% of adults with diabetes have some stage of diabetic retinopathy, and approximately 8-15% of people over the age of 50 are affected by some form of age-related macular degeneration. For the past several decades, the primary method of treatment has been by administering drugs to the back of the eye via highly invasive injections into the sclera—the white part of the eyeball. This treatment often requires monthly injections over 18 to 24 months, irrespective of whether the drugs are small molecules like steroids or large ones like monoclonal antibodies. The discomfort and fear associated with these injections can result in nearly 30% of patients not completing their recommended treatment. Innovation in this field has been stagnant, so the need or opportunity to apply new innovative technologies is acute.
Like many women from Asian families, my early career decisions were shaped by the expectation to pursue a “safe” profession. I trained and worked as a medical doctor in the UK, but I soon realized I was more interested in how clinical decisions were made. While mentoring students participating in a business plan competition, I encountered a fascinating low-frequency ultrasound technology that had potential applications beyond traditional imaging. A deeper dive demonstrated its promising capability for drug delivery. I envisioned that advancing this ultrasound technology could revolutionize the treatment of diseases in the back of the eye.
If we could alleviate that trauma while at the same time minimizing other complications such as bleeding and infections, we could reduce patient suffering and increase treatment compliance, leading to better outcomes in the management of these diseases. Our approach focuses solely on a delivery mechanism, remaining agnostic to the specific molecules used so we can both solve an existing problem and adapt our technology to new drugs that are developed in the future.
2. Do you find an overlap between health innovation and financial technology innovation? Has innovation in one ever helped progress the other?
There is a tremendous overlap between healthcare and fintech when it comes to innovation. In particular, both industries are using data analytics and AI in powerful ways. In fintech, AI and data analytics are being used to enhance personalized services for customers and better manage risk and fraud. In healthcare, both AI and data analytics are revolutionizing drug discovery and patient diagnostics. We’re also seeing digital payment solutions make it easier for patients to engage with their healthcare providers, much like how fintech is helping people improve their financial literacy.
Additionally, both sectors face tough regulatory environments, so innovations in compliance are crucial for keeping everything secure and above board. Financial services and healthcare are heavily regulated industries in all jurisdictions, so bringing new products in both requires navigating extensive rules and regulations. And let’s not forget about blockchain! It’s enhancing transparency in transactions and patient data management. With advancements in Insurtech, short for Insurance Technology, and supply chain management, both industries are really optimizing their operational efficiency. Overall, these innovations overlap and cut across different industries is leading to some amazing solutions that improve patient care and make healthcare more accessible for everyone.
3. What has been the biggest challenge in bringing technological innovation to the healthcare space?
Navigating the journey from ideation to market is a formidable challenge, particularly in healthcare. For startups, securing access to capital and garnering understanding from investors is essential, given the lengthy process involved in bringing innovative products to fruition.
The regulatory landscape presents another significant hurdle. Even after overcoming these regulatory challenges, persuading healthcare professionals to adopt new products can be daunting. Additionally, reimbursement and insurance considerations are critical for achieving widespread acceptance among both physicians and patients.
Also, not coming from an entrepreneurial background made the leap into this sector more daunting. My mother was a schoolteacher, and my father was an engineer. Before entrepreneurship, I had always worked in large organizations with lots of resources. However, my curiosity, conservative risk-taking, and the support of my family helped guide me through these challenges.
4. How do you maintain a healthy work-life balance while leading impactful ventures and being a part of so many more initiatives?
I strive to maintain a healthy work-life balance, though I admit that I don’t always succeed. I have a spirited dog who loves hiking and ensures I get outside, even when I feel overwhelmed with work. His persistent nudges remind me to take breaks and enjoy the great outdoors. I also cherish my weekends spent walking with friends and have recently initiated a film club with my friends, where we enjoy a movie together followed by a discussion.
Our daughters are now working in New York, so in some ways it’s easier for me to find the balance. When they were younger, I did struggle with my desire to be more hands-on while working full-time as the Director of the Tactical Investment Unit in fast-moving capital markets. That experience pushed me to create my own opportunities.
5. Is there anything you’re looking forward to in health innovation and technology progress? Is there anything new you can share about what Opharmic Technology is working on?
I dedicate time to reading various journals on innovation across numerous industries, although not on a daily basis. As the Chairman of the Listing Committee at Hong Kong Exchanges and Clearing Limited (HKEX), I have had the privilege of delving into the exciting new technologies and business models emerging from specialist tech and new economy companies seeking to list.
Regarding Opharmic, we are actively developing several areas, including using our platform technology to enhance the response of mesenchymal stem cells, multipotent stem cells found in bone marrow, for regenerative medicine and a novel treatment for myopia. Each of these initiatives represents our commitment to driving meaningful advancements in healthcare.
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