Our Leadership

Dr Ranjan Ramdas Pai, Chairman of the Manipal Education & Medical Group (MEMG), is an institution builder, entrepreneur and an astute investor whose leadership is shaping one of India’s most respected conglomerates in education, healthcare, insurance, research, and investments. As the third generation torchbearer of the ‘Pais of Manipal’ legacy, he has guided the Group’s transformation into an enterprise with a global footprint and is deeply committed to creating societal impact.

Under Dr Ranjan’s leadership, and his emphasis on academic excellence, research, and global collaborations, the Group manages a presence across India and internationally, operating universities and campuses in Manipal, Mangalore, Bengaluru, Jamshedpur, Sikkim, Jaipur, Melaka, Dubai, and Antigua. Under his guidance, Manipal Academy of Higher Education (MAHE) has risen to become one of India’s top multidisciplinary universities and has been recognized as an Institute of Eminence by the Government of India. He has also championed endowments, and instituted scholarships aggregating to INR 130+ crore that reinforce the Group’s commitment to make education accessible to all.

With a clear vision to build one of India’s leading and most trusted healthcare networks, Dr Ranjan has steered the rapid expansion of Manipal Hospitals to 50+ hospitals and over 12,500 beds, making it India’s No. 1 healthcare provider. In the field of health insurance, he has played a pivotal role in scaling ManipalCigna Health Insurance, which covers over 15 million lives across 600+ cities in India. Recognizing the need to make education accessible and affordable, he envisioned the setting up of UNext Learning – one of India’s leading Online Learning and workforce development company with more than 1.6L online learners, 7L+ enterprise learners and partnerships with 700+ organizations and the largest training platform for BFSI sector, with over 25,000 students annually.

Dr Ranjan is widely recognized for his ability to empower professionals, which has attracted world-class leadership talent. His sense of fairness, credibility, and long-term orientation have helped forge strategic partnerships with global industry leaders such as Cipla and Cigna. His proven track record of scaling businesses and delivering strong investor outcomes has made MEMG a preferred partner for leading global investors which includes marquee domestic and international private equity funds like IDFC, Morgan Stanley, Kotak, True North, TPG, Temasek, NIIF, and Mubadala.

A firm believer in the power of entrepreneurship, Dr Ranjan actively backs founders and high-growth companies through his family office, Claypond Capital, with investments spanning consumer brands, fintech, edtech, and healthcare devices. He is also a sought-after and valued mentor to numerous startups, reflecting his commitment to innovation-led value creation.

A medical graduate from Kasturba Medical College (KMC), Manipal, Dr Ranjan completed a fellowship in Hospital Administration. Deeply influenced by the ethos of his grandfather, Dr T.M.A. Pai, and father, Dr Ramdas M. Pai, he remains committed to social responsibility and community development. He continues the legacy of providing strategic guidance and support through the Academy of General Education, which operates more than 30 schools and colleges in the Dakshina Kannada region. Through the Manipal Foundation, he has demonstrated his commitment to impact initiatives in education, healthcare, women empowerment and livelihood. On an annual basis, the Foundation reaches over 14,000+ children through technology-enabled learning, provides mid-day meals to more than 6,000+ students, facilitates life-saving medical support for 3,000+ patients, and screens nearly 3,000+ women for cancer and non-communicable diseases.

With a vision anchored in innovation, scale, and aim to impact a billion lives, Dr Ranjan Pai continues to guide the Group towards new frontiers of growth and global relevance. His ability to anticipate change and build for the future cements his role as a transformative leader in shaping India’s business landscape.

S. Vaitheeswaran (“Vaithee”) is the Vice Chairman of the Manipal Education & Medical Group (MEMG), one of India’s most respected conglomerates in education, healthcare, insurance, research, and investments. With more than 35 years of diversified leadership experience, he plays a central role in shaping MEMG’s strategic direction, driving transformation, and strengthening the Group’s long-term growth agenda.

Since joining the Group in 2011, Vaithee has led several large-scale restructuring and M&A initiatives that have enabled the Group’s expansion across its core verticals. Under his leadership, MEMG has accelerated technology-led transformation, enhanced governance and operating systems, and deepened its presence across global education and healthcare markets. He has also overseen impactful investments and successful exits through the MEMG Family Office, with a particular focus on healthtech, fintech, and edtech ventures.



Vaithee’s professional journey includes key leadership positions at Lucas TVS, Eicher Ltd., and Infosys BPO. At Eicher, he served in multiple strategic roles, including Director & Business Head – Eicher International and Director – Sales & Marketing, where he was instrumental in expanding the company’s global footprint. At Infosys BPO, he held the position of Vice President and Unit Head for Hi-Tech Manufacturing and India Business, heading one of the organisation’s largest global delivery units with a strong focus on operational excellence, risk management, and process transformation.
Beyond his core leadership responsibilities, Vaithee contributes actively to India’s higher education and innovation landscape. He serves on the boards of several MEMG universities and investee companies, including Manipal Academy of Higher Education (MAHE), Manipal University Jaipur, and Sikkim Manipal University, guiding institutional strategy, industry partnerships, and talent development. He also mentors founders and CEOs of emerging startups, especially in the edtech and fintech ecosystems.

Vaithee is an active member of the CII–CEO Forum and the Bangalore Chamber of Industry and Commerce (BCIC) and is a frequent speaker at national forums on higher education, innovation, and industry transformation.

He holds an Engineering degree from the National Institute of Technology (NIT), Tiruchirappalli, and a Postgraduate Diploma in Materials Management from the Institute of Materials Management.

Nishith Mohanty is the Group President – Human Resources and Academia at the Manipal Education & Medical Group (MEMG), a diversified conglomerate with interests spanning Education (including Universities), Healthcare, Research, Investments and Insurance. As the Group’s Chief Human Resources Officer, he leads the HR and People Strategy across all entities of MEMG.

In his role, Nishith is responsible for fostering a performance-driven culture, steering talent acquisition and talent management, institutionalizing HR best practices, and enabling leadership development across the Group. He plays a critical role in aligning the HR function with the organisation’s strategic priorities, ensuring that the Group remains agile, future-ready, and positioned for sustained growth.
Nishith has been instrumental in the Group’s transformation into a full-fledged corporate organisation. He has led several large-scale integration initiatives, including those related to mergers and acquisitions, senior leadership succession planning, and wealth-creation frameworks for key talent. His contributions have helped strengthen organisational capability, governance, and long-term leadership pipelines.

Prior to joining MEMG, Nishith held leadership roles across prominent organisations. He served as the Head of HR at the Bayer Group of Industries, India. He has also held senior HR leadership positions at HMT Limited, CEAT/South Asia Tyres, Max India, and Britannia Industries Limited.

Nishith holds a bachelor’s degree in economics from Madras Christian College and a Post Graduate Diploma in Personnel Management (PGDPM) from XLRI, Jamshedpur.

Balaji Iyengar serves as the Chief Financial Officer of the Manipal Education & Medical Group (MEMG), bringing close to three decades of experience across financial services, education, and life sciences. Associated with the Manipal Group since 2002, he has played a significant role in shaping the Group’s financial architecture and supporting its growth across domestic and international markets.
In his current role, Balaji provides strategic oversight on financial management, governance, and compliance across key Group entities in India and overseas. A founding member of Manipal Global Education Services, UNext, and Acunova, Balaji has been instrumental in building and scaling multiple businesses to leadership positions within their respective sectors. He has supported several inorganic growth initiatives, acquisitions, and strategic alliances across the education and life sciences verticals, contributing to the Group’s long-term value creation.


Balaji’s core areas of expertise include financial strategy and capital structuring, fundraising across debt, equity, and private equity, global mergers and acquisitions, investment evaluation and due diligence, cross-border transactions, and financial governance. His deep understanding of complex financial environments and strong execution capabilities have enabled the Group to navigate growth, transformation, and regulatory requirements effectively.

Balaji holds a Bachelor of Commerce degree from Mumbai University and is a Chartered Accountant. He is recognised for his disciplined financial leadership, strategic mindset, and commitment to strengthening MEMG’s financial resilience and governance standards.

Harinarayan Sharma serves as the Chief Executive Officer of the Manipal Foundation and Senior Vice President at MEMG. With over 40 years of experience across investment management, corporate strategy, advisory services, mergers and acquisitions, investment banking, and corporate finance, he brings a unique blend of strategic insight and execution excellence to the Group’s philanthropic and international initiatives.

As CEO of the Manipal Foundation—the social impact arm of MEMG—Hari leads programs that advance equitable access to education, healthcare, and livelihood opportunities. He oversees key initiatives such as technology-enabled tutorial support in government schools, critical healthcare assistance for children and caregivers, cancer screening programs for underserved communities, women’s development projects in ultra-poor households, and multiple skilling and livelihood-support initiatives. His deep understanding of the healthcare and education sectors enables him to design and scale high-impact interventions that deliver sustainable community outcomes.

Prior to this role, Hari spent nearly 14 years driving healthcare growth and M&A at Manipal Hospitals. During this period, he led multiple rounds of private equity fundraising, negotiated and structured hospital acquisitions, and played a central role in planning and developing new hospital projects. He also pioneered alternative healthcare delivery models, including fertility centers and stand-alone dialysis facilities.

As part of the Group Chairman’s Office, Hari has been closely involved in shaping MEMG’s investment portfolio. He has steered investments in home-care services, diagnostics (with a focus on public–private partnerships), elder care, and several early-stage ventures—including K–12 education, co-living and student accommodation, dental aligners, boutique hospitality, and medical cold-chain devices for rural healthcare. He continues to mentor early-stage entrepreneurs and serves on the boards of investee companies in diagnostics and elder care.

Hari brings to MEMG a passion for social transformation, a strong strategic orientation, and an unwavering commitment to building scalable, meaningful, and community-centric initiatives.

Shridhar Hegde serves as Senior Vice President – Finance, overseeing financial operations across all Indian universities within the Group, as well as Manipal University College Malaysia (MUCM) and MAHE Dubai. With more than 25 years of experience in finance leadership, he plays a critical role in strengthening financial governance, driving operational efficiency, and aligning financial strategy with institutional growth.

Shridhar is a seasoned finance professional with deep expertise across financial accounting, MIS, treasury, cost management, investor relations, business partnering, taxation, and financial reporting. He is known for building strong financial frameworks that support informed decision-making and sustainable expansion, while maintaining high standards of compliance and governance.

Before taking on his current responsibilities, Shridhar served as the Chief Financial Officer (CFO) at Manipal Global Education Services (MaGE) and held several senior finance leadership roles within the organization, where he contributed significantly to financial strategy and operational excellence. His collaborative leadership style enables close partnership with academic and business teams, ensuring financial discipline while supporting performance and innovation.

Shridhar began his career with Tata Oil Mills Company Limited, followed by roles at Brooke Bond and Hindustan Lever Ltd., where he developed broad exposure to large-scale corporate finance environments. Prior to joining Manipal, he served as Chief Financial Officer at Fosroc Chemicals India Pvt. Ltd., Bengaluru, for eight years, leading finance operations and supporting business growth initiatives.
Shridhar holds a Bachelor of Commerce degree and is a Fellow Member of the Institute of Chartered Accountants of India.

Arun Kher serves as the Head of Projects at the Manipal Education & Medical Group (MEMG). In his role, Arun leads strategic infrastructure and project development initiatives across MEMG’s education, healthcare, and allied verticals, overseeing the planning, execution, and delivery of large-scale institutional projects, ensuring high standards of quality, efficiency, and sustainability across all project lifecycles.
With more than four decades of professional experience, Arun brings extensive cross-sector expertise spanning automotive, telecommunications, e-commerce, and infrastructure consulting. An engineering graduate from the 1982 batch, he began his career with Eicher in 1985, spending close to two decades across multiple manufacturing plants in India. During this period, he played a significant role in operational collaborations with Mitsubishi and Volvo, strengthening Eicher’s manufacturing capabilities and contributing to its operational transformation.

Arun has also previously worked with Tata Communications (erstwhile VSNL), where he led major strategic initiatives and was instrumental in conceptualizing, scaling, and operationalizing new business verticals that contributed significantly to the company’s emergence as a market leader in the telecommunications domain. He later joined Flipkart during its high-growth phase, where he contributed to building infrastructure and operational processes that supported the company’s rapid expansion.

Before joining MEMG, Arun served as Chief Operating Officer at SEMAC Consultants Ltd., where he managed end-to-end consulting operations and oversaw the execution of major projects across commercial, institutional, and industrial sectors.

Throughout his career, Arun has demonstrated deep expertise in project planning, infrastructure management, cross-industry partnerships, and operational transformation. His leadership is marked by a pragmatic approach to execution, strong stakeholder management, and a focus on quality and sustainability in project delivery.