Everstone's healthcare platform makes first India investment

CPC supplies a range of products and services for research and clinical laboratories in India, Sri Lanka, and Bangladesh, and exports its products to Europe and the Middle East. The company also has a number of partnerships with global medical technology developers to manufacture devices and chemicals in addition to developing its own range of products.

According to a release, Everlife plans to help CPC leverage its experience with medical services to add new capabilities in in-vitro diagnostics (IVD), which represents a growing opportunity within the larger Indian medical devices market. The platform will also support CPC’s further expansion in non-Indian markets, primarily in Southeast Asia.

Everstone launched Everlife in 2017 in partnership with Cure Capital, a Singapore-based asset management firm focused on healthcare investments. The platform targets a range of segments in the broader Asian healthcare sector, medical including diagnostics, critical care equipment, implants, and consumables.

Everlife’s previous investments have focused on Southeast Asia. Its first deal in 2017 was the acquisition of Malaysian medical device maker Chemopharm, and it has since backed Indonesian hospital supplier DV Medika Group and Singapore chemicals manufacturer Bio-Rev.

Everstone has several Indian healthcare companies in its portfolio outside the Everlife platform. Investments include drug developer Rubicon Research, nutraceuticals ingredient supplier OmniActive Health Technologies, and drug delivery services provider Ascent Health.

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• Topics
• South Asia
• Healthcare
• Technology
• Expansion
• India
• Everstone Capital
• Growth capital