Everstone invests in India's Translumina
The Everstone Group has invested in Translumina Therapeutics, a global manufacturer of medical devices based in India.
The size of Everstone’s commitment has not been disclosed, though Indian media reported that the GP paid INR5 billion ($69.7 million) for a significant minority stake. The investment is aimed at helping the company pursue global expansion, improve its research and development efforts and manufacturing capabilities, and enhance its distribution ecosystem.
Translumina was founded 12 years ago as the Indian distributor of Translumina Germany. The Indian subsidiary acquired the parent last month in a transaction aimed at better integrating the development and manufacturing pipelines and building a more effective global distribution network, claiming to combine German quality standards with Indian affordable manufacturing capabilities.
The company is a leading global manufacturer of cardiac stents and cardiovascular medical devices based on technology developed at the German Heart Center in Munich. Its best-known brand is Yukon Choice, which is present in over 30 countries across Europe, Asia, Latin America, and the Middle East.
“Translumina is extremely well positioned to emerge as a global leader in stents and cardiovascular technologies at highly affordable prices, said Arjun Oberoi, a managing director at Everstone, in a statement. “Everstone’s expertise in healthcare will help unlock the company’s full potential by scaling manufacturing, strengthening its global distribution and driving new product development.”
Everstone is active across multiple areas of the healthcare sector in India and Southeast Asia. In addition to growth capital investments like Translumina, the GP pursues a largely buyout-based platform strategy that brings together companies from the same industry. For example, Everstone is building a hospital platform around Sahyadri Hospitals and it is using Everlife to make investments in medical devices and pharmaceutical companies.
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