TA buys stake in India's Ideal Cures

In a statement, Ideal said the capital would go towards supporting improvement of its manufacturing processes, research and development and technical support. The company also hopes to leverage TA’s knowledge and connections in the global healthcare industry.

Ideal manufactures coatings for tablets and capsules. These coatings serve important functions on both an aesthetic and functional level, the first by helping customers distinguish between brands and the second by masking the unpleasant taste of medications. The coatings also help protect them from damage by sunlight, oxygen or moisture; and improve absorption after swallowing.

The company was founded in 1999 and operates three factories and two R&D facilities in India. It caters to pharmaceutical, nutraceutical and herbal medicine producers in more than 40 countries.

“We believe that the film coating industry is a unique, yet evolving sector that has strong potential for growth globally,” said TA Managing Director Naveen Wadhera. “We expect that there are significant opportunities for expansion and are eager to help Ideal Cures further develop and enhance its brand and internal capabilities.”

This is TA’s second Indian pharmaceutical investment in the last three months, following a commitment of INR1.7 billion ($25.5 million) in January to drug ingredients manufacturer Shilpa Medicare.

The firm’s other India healthcare exposure includes Dr. Lal PathLabs. It invested a reported INR1.6 billion in the medical diagnostic services chain in 2010 and later joined WestBridge Capital to invest $44 million in the company in 2013, before partially exiting in its 2015 IPO.

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• Topics
• South Asia
• Healthcare
• Expansion
• India
• Pharmaceuticals
• TA Associates