Bain, TPG, TA circle VC-backed Trivitron
Bain Capital, TPG and TA Associates are reportedly weighing up the possibility of investing for a 10-12% stake in Indian medical device provider Trivitron Healthcare.
Sources told The Economic Times that the company, backed by Headland Asian Ventures Fund and Eplanet Ventures, is expected to sell the shareholding for INR1.5-2 billion ($29-39 million). The VC firms invested around $11 million in the business in 2007.
Trivitron recently purchased a stake in Mumbai-based Kiran Medical Systems in a cash-and-stock transaction. In the next six months, the company is also tipped to acquire a EUR10-20 million ($13-27 million) European medical devices business with which it is currently in talks, group managing director G.S.K Velu told Mint.
Medical equipment makers are thought to be an attractive prospect for private equity due to their high margins at a time when profits are being squeezed.
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