Warburg Pincus has agreed to invest $210m for a significant minority stake in Micro Life Sciences Private Limited, parent organization of Meril group of companies, India’s largest medical devices company, both the companies said in a statement.
Although both the companies did not divulge transaction details, industry sources said the transaction will value Meril at $1.8 billion.
Established in 2006 in Vapi in Gujarat, Meril is an India-based global MedTech platform that is dedicated to the innovation, design and development of novel, clinically relevant and state-of-the-art devices. Meril offers a diversified product portfolio with over 100 technologies in 5 therapy areas – cardiovascular including structural heart devices, orthopedic implants, endo-surgery, surgical robotics & in-vitro diagnostics. The company currently has approximately 4000 employees and has business in over 100 countries.
Read more: Economic Times
