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OrbiMed exits India's Ecron Acunova for $17.4m

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Indian life-science technology company Take Solutions has agreed to pay INR1.15 billion ($17.4 million) for Ecron Acunova (EA), providing an exit for healthcare-focused private equity firm OrbiMed Advisors.

Take's purchase of EA will give it access to the latter's expertise in biosimilars, regenerative medicine and diagnostics imaging agents, according to a release. It will also allow Take to add EA's infrastructure in Europe, India and South Asia and build a combined presence in North America, South America, Europe, Asia and the Middle East.

Take pursues two main lines of business: it provides life science businesses with IP-based software for clinical, regulatory, safety and content management; and also offers supply chain management technology for enterprise mobility, trading partner collaboration and material tracking.

Currently the company estimates its addressable market at $15.9 billion; it aims to grow this market to $30 billion by 2019 through the addition of EA's regional presence and product lines.

EA was OrbiMed's first investment in India. The GP paid $6.5 million for a minority stake in the company in 2009. The sale to Take marks the firm's first full exit in the country as well. OrbiMed's other India investments include Claris Lifesciences, which it part exited last year in a stock buyback.

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