Peepul Capital backs India's Cura Healthcare
India-focused Peepul Capital has invested $6 million in Cura Healthcare, a high-end radiology equipment maker.
Set up in 2001, Cura makes and sells digital radiography, computerized radiography and mammography systems. Peepul Capital holds a majority stake in the Cura having previously invested $9 million in the company in 2012
Chennai-based Cura will use the extra funding to enter the critical care, healthcare information technology and nuclear medicine segments. It also intends to expand into Tier II and III markets by providing solution to infrastructural challenges such as irregular power supply. Cure earns INR45 crore in annual revenue.
"The medical equipment manufacturing sector in India is still at a nascent stage as more than 85% of our requirements are met by imports," said Sridhar Parthasarathy, a nominee director of Peepul Capital Fund, in a statement.
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