Medical devices company could see TPG as its new major shareholder
In a significant development, American private equity firm TPG has emerged as the frontrunner to acquire a majority stake in a leading Indian medical devices manufacturer. The identity of the target company remains undisclosed, but sources suggest it could be Sensa Core Medical Instrumentation, a Hyderabad-based firm specialising in in-vitro diagnostic analyzers and point-of-care devices.
The potential deal, valued at around $300 million (approx. ₹2,600 crore), is under early-stage discussions with other private equity firms like KKR, Kedaara Capital, and Multiples Alternate Asset Management also involved.
Despite some company representatives dismissing the information as baseless rumours, multiple credible sources confirm these ongoing discussions. However, no further details about the terms of the proposed acquisition have been disclosed.
Meanwhile, the Securities and Exchange Board of India (SEBI) has proposed an overhaul of the Initial Public Offering (IPO) structure for large issues. It is not clear how this proposed overhaul might impact the TPG acquisition of the Indian medical devices manufacturer. It is also not specified whether the acquisition is contingent on the implementation of SEBI's proposed changes.
Elsewhere, NSDL's Initial Public Offering (IPO) was fully sold within hours of its launch, raising $458 million. Meanwhile, a Blackstone-backed REIT is attracting significant investment from family offices and insurers ahead of its IPO.
In a separate development, the Mohandas Pai family office is planning a potential multibagger exit move, although the details are not disclosed.
The Mena Digest reports funding for three entities: Libya's Mataa, Saudi firm Calo, and Jordan's Olivery. However, the specifics of SEBI's proposed overhaul of the IPO structure for large issues are not detailed in the article.
TPG has a history in the sector, having earlier this year acquired a 35% stake in a pharmaceutical packaging firm. The acquisition of the Indian medical devices manufacturer, if successful, would further solidify its position in the Indian healthcare market.
As the negotiations continue, the Indian medical devices sector eagerly awaits the outcome of this potential acquisition, which could shape the future of the industry.
The potential acquisition of the leading Indian medical devices manufacturer by TPG, if successful, could diversify their current investments, expanding from pharmaceutical packaging into medical devices, thereby solidifying their position in the Indian healthcare market. This development in the health-and-wellness sector comes at a time when the finance industry is also experiencing significant movements, with a Blackstone-backed REIT attracting investments from family offices and insurers ahead of its IPO, indicating a strong interest in finance-related ventures.
