Dr B.R. Shetty – The CEO and the Managing Director of the Medical Centre Group of Companies

Dr Bavaguthu Raghuram Shetty, commonly known as Dr B.R.Shetty is the Chief Executive Officer and the Managing Director of the Medical Centre Group of Companies and UAE Exchange in Abu Dhabi. He is also the founder of the Indian Pharmaceuticals Association in the Emirates. The aim of B.R.Shetty was to build hospitals but diversified his sector to pharmaceuticals, financial services, retail, advertising and Information technology. 

Early life 

Dr B.R.Shetty was born in the year 1942 in Kaup in Udupi. He completed his education in his hometown. He was the Vice Chairman of the Municipal Council in Udupi. He focused on sanitary facilities, building concrete roads, schools, underground drainage and septic tanksin order to provide a healthier life for the people living around. He had a pharmacy degree in hand and set his entrepreneurial career in United Arab Emirates. His commitment and hard work are the core values that he believed to lead a successful life. He spread his empire all over the globe. 

Career 

Dr B.R. Shetty began his career as a pharmacist in Udupi, India. He later moved to Dubai in 1973 and started a small medical clinic. 

He ventured into the field of healthcare by establishing the New Medical Centre (NMC) in the year 1975 when UAE was looking for drastic change. This company was the first healthcare company from GCC to be listed on the prestigious segment of the London Stock Exchange. These medical centers and hospitals were spread providing different facilities in different cities. His aspirations to contributions brought a thought for his home country. He then started the UAE Exchange. He made it successful by a leading global money transfer, foreign exchange and payment solutions across 32 countries. It was known for the corporate brand in the Middle East. 

His dream was to provide healthcare services as a value chain. So he founded Neopharma in 2003 which is a UAE based pharmaceutical manufacturer. It was a center concept of modular manufacturing technology. This was inaugurated by the President of India, Dr. A. P. J. Abdul Kalam in Abu Dhabi. It also provides quality medicines at very reasonable prices with its own research and development. 

Raghuram serves as the chairman for Abu Dhabi Indian School. His contributions have led a future for number of students by running several schools Deira Private School, Bright Riders School and Sara Nursery. He also serves in the Board of Directors of Haldwani Medical College in Uttaranchal and Manipal Medical Academy. 

Dr B.R. Shetty has also made significant contributions to the finance industry. He founded the UAE Exchange in 1980, which is one of the largest foreign exchange companies in the world. 

Philanthropist 

• Dr B.R. Shetty established the BRS Foundation, which supports education, healthcare, and other social causes. Also, he has made numerous charity donations totaling millions of dollars to the UAE and India. 
• He also supplied medicines to Palestinian state and as Director supports the Special Care Center in Abu Dhabi and the Cancer Foundation. 
• Dr. B.R. Shetty supports numerous cultural activities in India and the United Arab Emirates in addition to his commercial and charitable work. 

Dr B.R. Shetty’s Path to Success 

Dr B.R. Shetty recognized the importance of diversification and expanded his business interests to include finance, pharmaceuticals, and other industries. This helped him build a strong and resilient business empire. He has always been a forward-thinking entrepreneur who embraced new technologies and business models. This helped him stay ahead of the competition and create new opportunities. 

He believes his family support had made him a successful entrepreneur, especially his wife C.R.Shetty was his pillar. He has four children- 3 daughters and a son who contribute towards his success path. 

Networth 

B.R. Shetty has an estimated net worth of more than Rs. 17.5 crore as of December 31, 2022. 

Interesting Facts about Dr B.R. Shetty 

• He built the ultra-modern Sheikh Zayed Cricket Stadium which is now used for international matches. 
• He was also chosen to play Dharmaraja, the King of Travancore in the historical documentary ‘Travancore: a Saga of Benevolence’. 

ACHIEVEMENTS AND AWARDS 

• In 2007, he was honored with Pravasi Bharatiya Samman.
  He received the Padma Shri in 2009 for his contributions to trade and industry.
  In 2012, NMC Healthcare was the first UAE Company to be awarded a 5 year contract by the Ministry of Presidential Affairs of the Govt. of UAE. 
• In 2013, he was awarded the Pravasi Bharatiya Samman, the highest honour given to overseas Indians, by the President of India.  
• Shetty was presented with the Golden Peacock Lifetime Achievement Award for Business Leadership in 2016. 
• The Indian Business & Professional Council presented Shetty with the Business Excellence Award in 2016. 
• He has been awarded the Order of Abu Dhabi, the highest civilian award in the UAE, for his contributions to the country’s economic and social development.  
• Shetty was named one of the top Indian leaders in the Arab world by Forbes Middle East in 2018. 
• He was also given the C3 Lifetime Achievement Award in 2018. 
• In 2019, he was awarded the Lifetime Achievement Award at the Arabian Business Indian CEO Awards for his significant contribution to the healthcare industry in the UAE and the region.  
• He has also received the Forbes Middle East Lifetime Achievement Award and the CEO Middle East Lifetime Achievement Award.  
• For his services to business and philanthropy, he has received the Karnataka Rajyotsava Award, one of the highest civilian honours in the state of Karnataka. 
• He has been recognized by the Indian Pharmacists Association and the Indian Medical Association for his contributions to the healthcare industry.  
• He has been appointed as the Honorary Consul of India in the UAE by the Government of India.