Being ousted from the very movement he founded and nurtured for two decades would have broken most people. For Dr. Adv. A. Samsudeen, however, it became the turning point. From building a company worth ₹5 crore into a ₹300 crore enterprise and eventually steering it into history as the first company based in North Kerala to be listed on the Bombay Stock Exchange, his journey is one of resilience, faith and sheer willpower.
For twenty years, Samsudeen worked tirelessly to take the institution he had created to new heights, only to be shown the door just as another milestone of growth was within reach. What could have been a paralysing blow became the very moment that gave him wings of steel. “I did not allow myself to be defeated,” he says, reflecting on those days. “Instead, I stitched back the torn wings and prepared to fly again.” That decision would etch his name into Kerala’s business history.
The story of Abate AS Industries Limited and its chairman is not just about corporate growth. It is also a lesson in willpower and perseverance. The message is simple but powerful: nothing is unconquerable when conviction and courage come together.
Born and raised in Perinthalmanna, Malappuram district, Samsudeen’s entrepreneurial instincts surfaced early. As a degree student in the late 1980s, he opened an STD booth in his hometown. “In those days, every family in our area had someone in the Gulf. People would wait for hours after booking a trunk call to speak to their loved ones. But there wasn’t a single STD booth in Perinthalmanna or the nearby towns. That’s when I decided to open one,” he recalls.
Even after completing his law degree and starting a practice, business remained close to his heart. The Gulf became his training ground in entrepreneurship, but every visit home left him unsettled. “At that time, people had to travel to Coimbatore and other places to get treatment for eye diseases. I thought, why not build a good eye hospital in our own land?” he says.
The idea of an eye hospital was followed quickly by the challenge of raising funds. Samsudeen was a man guided by faith, and he believed firmly that interest was prohibited. “I wanted to build institutions without relying on bank loans. Around that time, I noticed that many of my expatriate friends were keen to invest money in ventures that I had created. That was how a new business model emerged — one that benefitted both the community and the investors,” he explains.
In 2001, meetings with potential investors were held in his house and at the home of his elder brother, Muhammed Kutty. The response was overwhelming. With the support of around 300 people, each contributing between ₹1 lakh and ₹10 lakh, Perinthalmanna saw the birth of a state-of-the-art eye hospital. What began as a community-backed institution would, in time, evolve into a formidable business story.
Samsudeen brought this eye hospital to North Kerala with a level of medical infrastructure the region had never seen before. From the very beginning, he insisted on excellence. Specialist doctors who had trained and worked in India’s leading eye institutions were invited to join, while optometry and paramedical departments were established to match international standards. Administrative systems too were carefully structured, with quarterly board meetings and detailed reviews, supplemented by both internal and external audits. This strong foundation, underpinned by strong leadership, quickly lifted the hospital to remarkable heights, making it a trusted eye hospital in Kerala.
But success was not without its shadows. As financial crises gripped the Gulf, many of the original investors faced losses, while others, ageing and ready to return home, looked towards the eye hospital they had funded. “It was natural,” recalls Samsudeen. “How long could they remain idle after returning? But the hospital could not accept everyone, especially those above sixty or those without the skills to thrive in a healthcare setting.”
Recognising both the limitations and the opportunity, Samsudeen began preparing to take the institution into uncharted territory: listing it on the Bombay Stock Exchange. “North Kerala has always had entrepreneurial energy, but no company from here had ever made it to the BSE,” he explains. “I believed the main reason was a lack of knowledge. Listing brings enormous advantages — compliance with SEBI and BSE regulations ensures transparency, professionalism and discipline. It also opens doors for investors to enjoy greater returns. That was the path I had envisioned.”
Yet destiny had other plans. Tensions rose as some investors, denied roles in hospital operations or authority in a listed company, grew resentful. Allegations — baseless and bitter — were levelled against Samsudeen. Misunderstandings deepened among shareholders unfamiliar with corporate law, and finally, in a decision that stunned many, he was expelled from the very movement he had nurtured for two decades.
“It was heartbreaking,” he recalls quietly. “To be dismissed from what I had built with such care was like losing a part of myself.”
When the board turned against him, the hospital family did not. Samsudeen had created a culture where doctors, optometrists, paramedics and support staff stood shoulder to shoulder, not merely as colleagues but as a community. His departure shook them deeply. 90% of the staff, along with all the doctors, resigned in solidarity.
“In truth, I had no plans to remain in Kerala,” admits Samsudeen. “My first instinct was to return to the Gulf and continue my business there. But doctors, colleagues and community leaders persuaded me otherwise. They placed their trust in me, encouraged me, and urged me to stay.”
That encouragement led to an extraordinary act of collective resolve. Within a month of serving their notice periods, the team reunited under a new banner. Abate Eye Hospital was born in Perinthalmanna, its outpatient department opening almost overnight and the remaining facilities coming together on a war footing.
Samsudeen started again from where he had left off. From the outset, Abate was structured as a highly professional institution. Experts were appointed to every key role — COO, CTO, CFO — while the medical leadership was placed under Dr Muhemmed Swadiq, supported by a talented team of doctors including Dr M. A. Safarulla, one of the best cataract surgeons in Kerala and Dr Rajesh P.
During visits to the US, UK, Switzerland and Germany, Samsudeen saw at first hand the facilities and technologies used in leading ophthalmology institutions. “The new knowledge gained during such visits was always discussed with the team,” he recalls. “Today, Abate Eye Hospital in Perinthalmanna has a long list of state-of-the-art equipment.” That commitment to excellence soon began to attract patients not only from Kerala but also from the Middle East, African countries and even Europe.
“In the 150-year history of the BSE, not a single company from North Kerala had been listed. Through Abate, we tried to make a history. The company was formed by bringing together all the doctors who were the backbone of Abate. The reverse merger method was adopted for the listing. I will never forget the help of the chartered accountant Sajith, my friends Rupal Patel from Gujarat, and the company Public Edge they formed. I am indebted to them beyond words,” says Samsudeen. Abate AS Industries Limited went on to rewrite the history of North Kerala with its BSE listing.
If Samsudeen’s first eye hospital was inspired by watching his community travel to Coimbatore for treatment, today he has taken his own brand into metro cities including Chennai. Alongside its flagship in Perinthalmanna, Abate has branches in Kannur and Kozhikode, where it is recognized as a leading eye hospital in Kozhikode, with further expansion planned both across India and abroad.
Another field close to his heart is education. “The same excellence we see in management students from IIMs is not always found in those from other MBA institutes. Why? Because the method is different. Bloom’s Taxonomy, developed by Benjamin Bloom, is a globally respected framework for learning. It does not confine students to memorising and reproducing information but enables them to create something new from what they have learnt and experienced. Such a framework is being implemented in the educational institutions under the Abate Group,” says Samsudeen.
He was also the first to introduce undergraduate optometry courses in the state’s private sector. Today the group offers 400 BSc optometry seats, which are among the most sought-after optometric course in Kerala, around 100 interior designing seats, and an architecture college under the University of Calicut. Beyond healthcare and education, Abate has also ventured into the optical retail sector. In Bahrain, under the banner of Sky International, the group runs wholesale and retail businesses in mobile phones and accessories.
When preparing for BSE listing, Samsudeen had few role models. He learnt the procedures himself and sought the guidance of top professionals. “Now the route is clear. My personal wish is that more companies from Kerala, especially North Kerala, should come to the stock market. This will help in the overall growth of the state,” he says.
Samsudeen remains philosophical about his entrepreneurial journey. “Do your work. God gives the results. If you are doing business ethically, you do not need to be afraid of setbacks. They are only temporary. Ultimately, you will achieve your goal,” he underlines — a principle that has shaped both his life and the rise of Abate AS Industries.
Abate is now preparing to build a new eye hospital in Manjeri, introducing a business model unlike any it has pursued before. Valued at ₹25 crore, the project has already been submitted to the Single Window Committee for approval.
The structure is designed to be mutually rewarding for both healthcare and investors in Kerala. A newly formed entity, Manjeri LLP, will purchase the land, construct the building and lease it to Abate AS, which will manage the hospital’s operations. The construction will follow Abate’s specifications, ensuring that medical facilities meet its high standards. In turn, Manjeri LLP will earn a steady rental income, while investors benefit not only from monthly returns but also from the long-term appreciation of the land and building.
“This is a Sharia investment model,” explains Dr Adv A. Samsudeen. “It opens up a halal yet low-risk investment opportunity. The minimum investment is set at ₹10 lakh, with additional investments accepted in multiples of ten lakhs. It is designed to support healthcare expansion while creating sustainable value for the community and investors alike.”
Dr Adv A. Samsudeen is a law graduate with a doctorate in doctors’ performance management. In this conversation, he speaks about the ambitions of Abate AS Group, the path to achieving them, and the entrepreneurial environment in Kerala.
Let me share two experiences. Once, in Bahrain, I went to the ministry concerned to discuss expanding my business by setting up a new hospital. The Chief Executive Officer of that ministry personally came down to the car porch to receive me and took me inside. He spoke in detail about the investment and the project, accompanied by a team who were entrusted with the next steps. He even gave me his direct number, asking me to call if there were delays. He and his team escorted me back to my car. It was like being welcomed with a red carpet.
Now let me tell you about an experience in Kerala. The architecture course under Calicut University has a certain percentage of government seats. For a matter related to this, I had to go to the secretariat in Thiruvananthapuram. When I entered, I saw senior officials waiting for a higher-ranking officer and I sat on a chair nearby. From their expressions, I could sense they did not like me sitting there. Still, I remained seated. After a phone call, when I returned, I found a pile of files placed on the very chair I had been occupying. I mention this only to highlight the difference in the way investors are treated.
Whichever party is in power, one thing must change if Kerala’s entrepreneurial environment is to improve: the attitude of officials. Without changing this mindset, business growth will always be held back. In my view, the government should provide special training to officials to bring about this change.
Wherever you go in the world, you will find people who studied optometry with us and built careers there. This gives me immense pride. This year, about twenty of our BSc Optometry graduates secured placements in Germany. Similarly, students from Salus University in the United States come to Abate for their externships.
Our students also consistently achieve university ranks in architecture and interior design. This is possible only because of the teaching methods we follow and the exposure we provide. We focus not on rote learning but on building the capacity to create, to think and to apply — qualities that ensure employability anywhere in the world.
Our goal is to become one of the top 500 corporate companies in India within five years.
Yes, the goal is ambitious, but it is not merely a dream. We have prepared clear strategies to reach it. The new eye hospital in Manjeri is one such project. Beyond that, we will expand both our hospital network and our retail segment within India and abroad.
Ours is an ethical business model built on extreme transparency in every aspect. The framework is designed to benefit both investors and the wider public. We use the latest software in administration, and our hospitals are equipped with advanced technologies, including AI-based machines for cataract surgeries and other treatments. We want to set new benchmarks in eye care while also ensuring meaningful returns for investors. That balance is our guiding principle.
The strength of our business model lay in its transparency. From as early as 2010, we incorporated systems like SAP to maintain financial clarity. We invested in advanced technologies for treatment and appointed professionals to lead every department. Above all, our focus was firmly on the goal of reaching the Bombay Stock Exchange. The challenges we faced grew weaker in the face of that determination.