The story of John Kuriakose, founder and managing director of DentCare, world’s second-largest and Asia’s largest dental lab, is a testament to human perseverance, passion, and unwavering faith. Born into a ‘family of madmen’, John’s journey is quite awe-inspiring.
In a conversation with TNIE, he shares his trials and tribulations and insights on running a business in Kerala. Excerpts:
Can you explain the start of your entrepreneurial journey?
I think I have to tell my life story to answer this... I was raised in a village near Koothattukulam. My family, the Olikkal family, was known as the ‘family of madmen’ as my family has a history of mental illness. We belong to the Jacobite community, but I wasn’t a believer. My father worked hard and we had a happy life. Our dream was to build a house in a more accessible place. So my father saved some money and gave an advance to a person to buy a property. However, we were cheated. When my father came to know about that person’s arrest, he was shocked and showed symptoms of mental illness. He was taken to the Thrissur mental hospital.
Our lives changed forever. Even having a full meal became unimaginable. My mother cried every day, praying for my father’s illness to be cured. She visited churches and temples, hoping for a miracle. A local carpenter who claimed to have sorcery powers came to our house, but my mother soon realised it was impossible to cure my father’s madness. If we children made any noise, he would beat her. She wouldn’t respond or cry then, but once he left the house, she would hug us and wail. Our house was filled with cries. My mother, an orphan, was fed up with life’s misery and even attempted suicide. She feared we children too would eventually go mad. We were known as the children of ‘Mad Kuriako’. I suffered from severe insecurity and low self-esteem.
And then?
One day, a neighbour invited my mother to a prayer meeting. She had to borrow a dress to attend the meet, but she returned in a cheerful mood. The speaker had asked her to keep faith in God. Maybe it was a miracle, or maybe it was my mother’s prayers, but eventually, my father’s madness was cured. For 44 years now, my father has been okay, without needing medicine. During his period of mental illness, he would come to our school, sit beneath a tree, and I would stay away, ashamed. I was an average student, studying hard, but struggling to recall points during exams. I used to walk five to six kilometres to reach school... thinking about my fate, and crying. I believed there was no God because of my sufferings. But now I know God was with me, crying when I cried.
How did your life change?
I passed Class 10 with 256 marks, barely scraping through. I didn’t even buy the admission form for college, thinking I had no future. But my mother coaxed me to attend another prayer meeting. The speaker said we all carry sin within ourselves and asked us to submit our lives to Christ. I did. My father asked me to take up rubber tapping, but then a miracle happened. I got a job as an attendant at a dental clinic, run by Dr Reji Mathew. My work consisted of cleaning the clinic, washing the lunch box, and helping the doctor. That stint changed my life.
Can you elaborate?
Seeing my enthusiasm, the doctor asked me to assist him in implanting artificial dentures. It was a tough job, taking up several hours. Then, a desire grew in me to start a dental lab. But we needed `20 lakh to establish a dental lab. My monthly salary was just `250. That was during 1982-83. I never thought I’d succeed in the field. Dr Reji trained me in setting dentures. At the time, the fee for setting a denture was `50. I started working at different clinics at night, sleeping just two or three hours a day. I worked hard for around six years and managed to save `4.75 lakh. I took a loan of `25,000 from a money lender at an interest of 36%. The South Indian Bank provided me a loan of `15 lakh. In 1988, I started DentCare in a 290 sq ft room with six workers at Muvattupuzha. The room rent was `500 per month.
Back then, there were only two firms making dentures in India. We imported a casting machine worth `7.5 lakh from Germany. I used to visit a dental lab at Kanjirappally to deliver dentures. I also visited the Karnataka Dental Corporation in Bengaluru to see the machinery. We bought the casting machine from NK Patel and Sons in Mumbai, with the import duty being 200%. There was huge demand and we struggled a lot to deliver the work on time. The profit margin was handsome, and we expanded and recruited more workers. During the first half of the ‘90s, I started attending conferences abroad, which helped me modernise the unit. We started with two products, and now, the product range has widened to 450. I went to Switzerland to learn the technology of porcelain coating of metal dentures. Later, we started sending our staff to Switzerland and Germany for training. We were always keen to adapt to technology and brought all the latest technology in dentistry to our institution.
What sets DentCare apart from other dental implant manufacturers?
We use the highest-quality raw materials, with 95% imported from Germany. This commitment to quality comes at a cost, with our products priced around 25% higher than others. Our employees are encouraged to work with the mindset of serving a higher purpose (God), ensuring flawless results. We also leverage the latest technologies in dentistry to maintain our edge.
Who are your primary customers?
Our customers include dentists, dental hospitals, and colleges. As a B2B business, we cater to the needs of dental professionals.
What’s the current status of the company, and how many employees do you have?
We have come a long way since our humble beginnings. In 1997, we acquired our own land and built a spacious facility, which enabled us to expand our workforce. Interestingly, around 80% of our employees are women. We provide comprehensive training to our workers, which includes a one-and-a-half-year programme. We also established the DentCare Institute of Dental Technology, which offers training led by 30 doctors and senior technicians. Today, we have a team of 4,200 employees.
Are fresh recruits also given specialised training?
Yes, we offer comprehensive training that combines theoretical and practical knowledge.We ensure that our employees are well-equipped to handle the demands of our products.
Have you expanded to other locations?
The 2018 flood served as a turning point for us. The disruption to our operations and loss of clients made me realise the importance of diversifying our presence. Consequently, we established units in Delhi, Mumbai, Hyderabad, Bengaluru, Kolkata, and Chennai. We also plan to open a unit in Indore this year. Additionally, we have manufacturing units in the US, the UK, New Zealand, UAE, and Australia, which produce a limited range of 10 products. Our main unit produces an extensive range of 450 products.
Many perceive Kerala as unfavourable for investment. What’s your perspective?
I disagree with the notion that Kerala is unsuitable for industries. On the contrary, I believe the state offers an ideal environment to establish businesses, primarily because of the hardworking and sincere nature of Malayalis.
Have you encountered issues with strikes, unionism, or political pressure?
Fortunately, we haven’t experienced any significant issues with strikes or unionism. Political leaders have visited me, but I maintain a neutral stance, and they have never demanded funds. During the Covid pandemic in 2020, we faced a significant financial crunch, but I ensured that our employees’ salaries were paid on time by availing a loan of `28 crore.
Have you ever had to terminate employees, and how do you handle workplace harassment?
I have never fired anyone for performance-related issues. However, I have terminated employees who misbehaved with women. I have a zero-tolerance policy towards harassment, and around 80% of our employees are women.
Was it a deliberate decision to employ more women in your company?
It wasn’t a conscious decision, rather a natural outcome. Women seeking employment came to us and I was happy to provide them with jobs. Having experienced the struggle of finding employment myself in the past, I empathised with their situation and decided to give them a chance.
Can you share details about your investment in research and development (R&D)? How many people are part of the R&D team?
We have invested substantial amounts, running into crores, in our R&D department. Our team of engineers works on innovative projects and we currently have around 15 researchers and engineers on board. To develop our R&D capabilities further, we are seeking an investment of `50 crore. Our R&D efforts have led to the development of 30 products which are part of a separate company.
How many players does this sector have? And how competitive is the market?
DentCare manufactures almost all dentistry products available now, making us a leading player in the industry. The market is indeed highly competitive, with around 10,000 dental labs operating in India. However, only a handful of these labs possess the necessary Central Drugs Standard Control Organisation (CDSCO) certification. We were the first to obtain this certification, and we also hold multiple ISO certifications, US FDA, and FDA 510 (k) clearances. In fact, we were the first to introduce ISO certification in dentistry in India and the second worldwide.
Where does DentCare rank globally?
In terms of production (volume), we hold the second position globally. Glidewell in the US occupies the top spot. However, when it comes to turnover, we would rank around 100th. This disparity is largely because of our competitive pricing. For instance, a dental crown manufactured by us is priced at approximately one-fifth the cost of the same product offered by a US-based company. If product quality is the benchmark, we might even surpass the current leader. Notably, both DentCare and Glidewell produce around 450 products. Glidewell employs approximately 5,000 staff. We aim to achieve the top rank by 2030.
Have you received any buyout offers from high-end companies?
Yes, we have received substantial offers from several companies. One notable offer in 2017 was for `800 crore. However, I never considered selling the company. Instead, we are now exploring private equity options, aiming to dilute around 10% of our shares.
Do you now hold 100% ownership of DentCare?
Yes, that’s right. We have initiated the valuation process, which has been on for nearly six months. Our company has been valued at `1,500 crore. We are offering stakes only in DentCare and won’t sell any shares of our R&D firm, NES Medicorp. I have four sons and I intend to hand over the reins of the company to my second son as part of our succession plan. My third son is pursuing a dental technician course in Australia. The youngest, a Plus-II student, also aspires to become a dentist. I have given them the freedom to choose their own paths and I won’t influence their decisions to pursue dentistry or any related field.
Have you ever faced any difficulty in Kerala in obtaining the many certificates required from departments like LSGD, health, and fire and rescue?
I wouldn’t say it was a smooth ride. We were pioneers in bringing a casting machine to India, at a staggering import duty of 200%. Although the government offered a 15% subsidy, I had to make 14 trips to the industrial office but failed to secure it. They questioned the machine’s high price, suspecting malpractice, despite the payment being made directly to the German manufacturer through a banking transaction. While I didn’t face other major issues, there were delays in obtaining documents. We’ve learnt to plan ahead, anticipating potential hurdles. Interestingly, this isn’t unique to Kerala. We’ve encountered similar challenges in other states, like Telangana.
Have you taken a stand against giving bribes?
We can’t take a rigid stand on this. Occasionally, we’ve had to pay small amounts to expedite processes. However, compared to other states like Karnataka and Tamil Nadu, where demands are significantly higher, Kerala is relatively better off. I’m proud to say that we’ve never paid a single penny in bribes to agencies like Income Tax, Sales Tax, or the fire and rescue department. Our experience with trade union issues has been challenging, particularly when we purchased marbles from Rajasthan. We stood firm, obtained a court order, and eventually reached a compromise. Today, we enjoy good relations with all trade unions.
What are your plans for the future?
We aim to go public with an IPO by 2030 once we reach a valuation of `5,000 crore.
What’s the status of private equity investments?
We’ve been approached by around 18 companies, and we have shortlisted five, including Wipro, Axis Bank, and ICICI Bank. We will carefully evaluate their proposals and consider how they can contribute to our growth.
Are you planning to expand overseas?
Yes. We are exploring opportunities to acquire dental labs in the US. Discussions are under way, and we are working on securing the necessary funds. My son and team are leading this effort in the US.
Are you considering diversif-ication?
I have learnt from past experiences, including a failed venture in cattle farming, which incurred significant losses. However, I have no plans to diversify DentCare’s core business.
Have you received any support from the state government?
While we didn’t receive support during our transition from small-scale to large-scale operations, I believe the state government’s initiatives are beneficial to entrepreneurs in Kerala. The Union government also offers various grants and subsidies, but many people are unaware of these opportunities.
What are your expansion plans?
Our primary objective is to establish satellite units in 30 locations across India by 2030. Currently, we have six operational units, and we plan to add 24 more. These units will enable us to provide timely services, including minute corrections, immediate repair, replacement, and delivery of dental products. We are also focusing on acquiring labs in foreign countries to expand our global presence.
Are you planning to invest in startups?
We don’t have the funds to invest in external startups. Our priority is to invest in DentCare’s growth and expansion, with the goal of becoming the number one dental lab in the industry, based on quality and service rather than turnover.
How significant is the role of teeth in a person’s overall beauty?
Teeth play a crucial role in enhancing a person’s beauty. A bright, healthy smile can light up a face, much like a blooming flower.
Do you think people in India tend to neglect dental care until their teeth are severely damaged?
Unfortunately, yes. Many people neglect their dental health until it’s too late. Decaying teeth can lead to various issues, including food poisoning, discomfort, and even headaches and back pain. It’s essential to prioritise dental care.
Is it true that people used gold teeth?
Yes, gold teeth were indeed used in the past. The type of gold used varied, including precious gold, 24-carat, and 20-carat gold. We still provide ceramic coating services for gold teeth, which is popular among wealthy individuals.
What’s the most popular service offered by DentCare?
We are most sought-after for zirconium oxide, which is used in making crowns, bridges, implants etc.
Do you have any exclusive products?
Yes. We have developed a unique product called ‘Dream-ment’, designed to reduce snoring. We hold the patent for this innovative product which has gained significant demand within a year.
TNIE team: Rajesh Abraham, Rajesh Ravi, Manoj Viswanathan, Anu Kuruvilla, Anna Jose, Abdul Nazer M A, T P Sooraj (photos), Harikrishna B (video)