Ketan Paranjape
About Ketan Paranjape
Ketan Paranjape, PhD, is an independent director of Syra Health, serving since October 2023. He is 51 years old and brings deep expertise at the intersection of AI, analytics, and healthcare operations, including senior leadership roles at Roche Diagnostics and advisory/academic posts spanning WHO, HHS, and leading universities. His education includes a PhD in Artificial Intelligence in Healthcare (Amsterdam UMC), MBA (University of Oregon), MS in Electrical & Computer Engineering (UW–Madison), and BS in Electrical Engineering (University of Pune) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Roche Information Solutions / Roche Diagnostics | Vice President; VP, Commercial Business Operations, Business Intelligence & Analytics | Since Apr 2018; since Sep 2020 | Senior operating leadership in diagnostics data/analytics and commercial operations |
| Imperial College London, School of Public Health | Honorary Research Fellow | Sep 2017 – Dec 2020 | Research fellowship in public health/AI |
| Lee Kong Chian School of Medicine | Visiting Technical Advisor in AI for Health | Sep 2017 – Dec 2020 | AI in healthcare advisory |
| U.S. Dept. of Health & Human Services (Health IT Standards Committee) | Member, Precision Medicine Task Force | Jul 2015 – Dec 2020 | National health IT/precision medicine standards input |
| Health 2047 (AMA-affiliated venture studio) | Managing Director; Advisory Board Member | Oct 2016 – Mar 2018; Apr 2018 – Apr 2019 | Company formation/commercialization in digital health |
External Roles
| Organization | Role | Status/Tenure | Notes |
|---|---|---|---|
| World Health Organization | Roster of Digital Health Experts | Since Sep 2019 | Advises WHO Secretariat |
| Indy Chamber (non-profit) | Director | Since Jun 2022 | Regional economic development board |
| Indiana Univ. Luddy School (Informatics, Computing & Engineering) | Dean’s Advisory Council Member | Since Sep 2021 | Academic-industry advisory |
| Univ. of Wisconsin–Madison (ECE) | Advisory Board Member | Since Feb 2021 | Academic advisory |
| AdvaMed | Digital Health Executive Leadership Group Member | Since Feb 2021 | Medtech policy/leadership group |
| Human Health Education & Research Foundation | Advisory Council Member | Since Jun 2021 | Global health advocacy |
Board Governance
- Independence: The Board determined Dr. Paranjape is independent under SEC/Nasdaq rules (one of three independent directors) .
- Committee assignments: Member, Audit Committee (as of Dec 31, 2024). Sherron Rogers serves as Chair and audit committee financial expert. Dr. Paranjape is not identified as the financial expert .
- Other committees: Compensation Committee (Vijayapal R. Reddy, Avutu S. Reddy), Nominating & Governance Committee (Vijayapal R. Reddy, Avutu S. Reddy); Dr. Paranjape is not listed on these .
- Attendance: In FY2024, the Board held 8 meetings; Audit 3; Compensation 2; Nominating & Governance 0. No director attended fewer than 75% of aggregate Board/committee meetings during their tenure in 2024 .
- Board leadership: The company does not have a Chairman of the Board .
- Executive sessions: Independent directors meet separately without management on a regular basis .
Fixed Compensation
| Item | Structure/Amount | Period/Status |
|---|---|---|
| Non-employee director annual cash retainer | $20,000 (paid quarterly) | Approved Mar 26, 2025, for FY2025 |
| Committee chair fees | Audit Chair $10,000; N&G Chair $5,000; Compensation Chair $5,000 | FY2025 |
| Committee member fees | $2,000 annually (per committee) | FY2025 |
| 2024 actual – Cash fees (Paranjape) | $10,000 | FY2024 |
Performance Compensation
| Equity Award | Grant Date | Shares/Options | Strike/Term | Vesting | Fair Value |
|---|---|---|---|---|---|
| Non-employee Director Stock Option (Paranjape) | Nov 14, 2024 | 19,303 options | $0.3683 exercise price; 10-year term | 25% vested at grant; remaining 75% vests in 12 equal monthly installments | $6,386 (grant-date fair value) |
- Performance metrics: No performance- or TSR-based conditions disclosed for director equity awards; vesting is time-based .
Other Directorships & Interlocks
| Company/Entity Type | Organization | Role | Public Company? |
|---|---|---|---|
| Non-profit | Indy Chamber | Director | No |
| Public company directorships | — | None disclosed | — |
- Interlocks/conflicts: No related-party transactions disclose Dr. Paranjape as a participant; audit committee oversees related-party approvals .
Expertise & Qualifications
- Technical/industry expertise: AI in healthcare, data analytics, diagnostics operations; senior VP-level operator at Roche Diagnostics; multiple advisory roles in digital health policy and academia .
- Education: PhD (AI in Healthcare, Amsterdam UMC), MBA (University of Oregon), MS ECE (UW–Madison), BS EE (University of Pune) .
- Financial oversight: Serves on Audit Committee; audit committee financial expert is Sherron Rogers (not Dr. Paranjape) .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | Class B Shares | Voting Power % | Notes |
|---|---|---|---|---|---|
| Ketan Paranjape | 38,955 | <1% (“*”) | — | — | Represents an option to purchase shares; each Class B share equals 16.5 votes; footnote indicates “*” under 1% . |
- Hedging/pledging: Company policy prohibits hedging and derivative transactions; pledging is generally prohibited, with potential exceptions granted by the chief compliance officer. No pledging by Dr. Paranjape is disclosed .
- Section 16 compliance: The proxy notes one delinquent filing by an executive (not Dr. Paranjape); no delinquencies disclosed for Dr. Paranjape .
Governance Assessment
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Strengths
- Independent director with strong AI/healthcare operator background; sits on the Audit Committee, supporting oversight of financial reporting and related-party review .
- Documented attendance (≥75%) and regular independent director sessions indicate baseline engagement practices .
- Director pay is modest; 2025 policy clarifies cash retainers and committee fees; 2024 equity was time-vested options, aligning incentives to share price over time .
-
Watch items / Potential red flags affecting investor confidence
- Dual-class structure and 2025 charter amendments to preserve/extend Class B voting rights (eliminating automatic conversion at death; permitting transfers to heirs/successors) entrench voting control and may dilute Class A influence; monitor independent director stance/oversight on shareholder rights .
- Related-party transactions with entities affiliated with management (HQ lease via STVentures; services from RAD CUBE and NLogix) are governance risk factors; Audit Committee (which includes Dr. Paranjape) is the reviewing body—continued rigor is critical .
- Nominating & Governance Committee held zero meetings in FY2024, which may signal process weakness in governance oversight; Dr. Paranjape is not on that committee, but overall board effectiveness on governance merits monitoring .
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Compensation and alignment takeaways
- 2024 director compensation for Dr. Paranjape: $10,000 cash plus $6,386 in stock options; 2025 policy sets a $20,000 cash retainer and chair/member fees; equity for 2025 not specified in policy .
- Ownership is primarily via options; beneficial ownership <1%; no pledging or hedging disclosed for him; anti-hedging policy in place .
Overall, Dr. Paranjape’s independence, audit committee role, and technical domain expertise are positives for board effectiveness, but the company’s dual-class governance and related-party footprint heighten risk; investors should watch how independent directors, including Dr. Paranjape, exercise oversight on these matters .