Biorad Medisys Secures INR 400 Crore Funding from KSSF II

Biorad Medisys Secures INR 400 Crore Funding from KSSF II

Dil Bar Irshad | May 16, 2024 | 02:53 PM IST | Breaking News | Follow on Google News

Biorad Medisys Secures INR 400 Crore Funding from KSSF II

Biorad Medisys Secures INR 400 Crore Funding from KSSF II

Key Highlights:

1. Biorad Medisys raises INR 400 crore from Kotak Strategic Situations India Fund II.
2. Grant Thornton Bharat served as the exclusive financial advisor for the transaction.
3. The investment aims to boost Biorad Medisys’ position in India’s medical device sector.

Biorad Medisys Pvt. Limited, a prominent medical device manufacturer in India, recently concluded a funding round, securing INR 400 crore from Kotak Strategic Situations India Fund II, managed by Kotak Alternate Asset Managers Ltd. This significant investment further solidifies Biorad Medisys’ financial standing and signifies an exit for their previous investor, DMI Finance Group. Grant Thornton Bharat played a crucial role as the exclusive financial advisor to Biorad Medisys throughout the transaction.

Biorad Medisys, headquartered in Pune, boasts a diverse range of medical devices across various therapeutic areas, including Urology, Orthopedics, Gastroenterology, and Neurovascular. The company has established a robust domestic and international presence, distributing its products in India, Latin America, Europe, Southeast Asia, and the Middle East. This funding round is considered one of the largest growth equity investments in India’s medical device sector, reflecting the increasing interest and investment in innovative medical device companies within the country.

Jitendra Hegde, Managing Director of Biorad Medisys, expressed excitement about the investment, emphasizing the shared vision of transforming the Indian medical devices industry. With a focus on sustainable value creation and delivering top-notch quality and performance, Biorad Medisys aims to elevate its business to new heights. Established in 1999, the company specializes in manufacturing Orthopedic implants for Knee and Hip, as well as surgical and consumables catering to Urology, Gastroenterology, and Neurovascular intervention.

Source: PRNEwsWire

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.