When diagnostic laboratory chain Thyrocare made its initial public offering (IPO) in 2016, its founder, Dr A Velumani, faced several questions from investors.
One question that he strikingly remembers compared him to Elizabeth Holmes, the fallen US biotech star, who was convicted on Monday of defrauding investors in her blood-testing start-up Theranos.
Recalling the question from nearly six years ago, Dr A Velumani tweeted, “March 2016. IPO roadshow. 100+ meetings. All healthcare analysts of anchor investors asked same Q: how do you compare yourself with her? I did not have an answer.”
The Tamil Nadu-born scientist and entrepreneur ended his post with two “weary face” emojis.
March 2016. IPO roadshow. 100+ meetings. All healthcare analysts of anchor investors asked same Q: how do you compare yourself with her? I did not have an answer. pic.twitter.com/bkjOiq5obq