Michael Barbella, Managing Editor04.21.22
Warburg Pincus is shelling out $210 million for a minority stake in Micro Life Sciences Private Limited, parent organization of Meril group of companies, India’s largest medical devices company. The transaction awais CCI approval.
“We are delighted to partner with Meril in their quest to build an innovation-led provider of medical products and solutions that are developed and made in India to serve the global market," said Narendra Ostawal, managing director of Warburg Pincus India. "We are excited by Meril’s compelling growth story and believe the company stands to benefit from the secular tailwinds of healthcare in India, realizing the potential of a strong pipeline of market-defining products and expansion into global markets.”
Founded by the Bilakhia family, Meril is a fast-growing medical devices company that designs, manufactures and distributes clinically relevant and state-of-the-art medical devices. With robust R&D facilities, world-class manufacturing capability, deep distribution reach and commitment to invest in educational and training programs via Meril Academy, Meril has attained a leading market position in India across several categories and has introduced innovative products globally. The company develops vascular intervention devices, orthopedic implants (hip, knee, spine, among others), diagnostics, endosurgical products, and ENT devices.
Further, Meril is making significant strides in capturing the global opportunity in both established product categories and market-defining innovations, led by its innovative products, continued commitment to deliver strong clinical outcomes, and high credibility amongst stake holders.
“We are excited to partner with Warburg Pincus which has a rich history of working with several successful medical device companies globally," said Sanjeev Bhatt, senior vice president of Corporate Strategy at Meril. "The current investment establishes high degree of credibility to Indian medical devices in global landscape and will help us in deepening our international presence, attracting global talent, and scaling up our clinical research efforts in order to achieve our vision of improving the quality of human life through advanced healthcare solutions.”
Meril is an India-based global medtech platform dedicated to the design and development of clinically relevant devices. Meril offers a diversified product portfolio with more than 100 technologies in five therapy areas. The company currently has approximately 4,000 employees and has business in more than 100 countries.
Warburg Pincus is a global growth investor. The firm has more than $73 billion in private equity assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds and two real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York City with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.
“We are delighted to partner with Meril in their quest to build an innovation-led provider of medical products and solutions that are developed and made in India to serve the global market," said Narendra Ostawal, managing director of Warburg Pincus India. "We are excited by Meril’s compelling growth story and believe the company stands to benefit from the secular tailwinds of healthcare in India, realizing the potential of a strong pipeline of market-defining products and expansion into global markets.”
Founded by the Bilakhia family, Meril is a fast-growing medical devices company that designs, manufactures and distributes clinically relevant and state-of-the-art medical devices. With robust R&D facilities, world-class manufacturing capability, deep distribution reach and commitment to invest in educational and training programs via Meril Academy, Meril has attained a leading market position in India across several categories and has introduced innovative products globally. The company develops vascular intervention devices, orthopedic implants (hip, knee, spine, among others), diagnostics, endosurgical products, and ENT devices.
Further, Meril is making significant strides in capturing the global opportunity in both established product categories and market-defining innovations, led by its innovative products, continued commitment to deliver strong clinical outcomes, and high credibility amongst stake holders.
“We are excited to partner with Warburg Pincus which has a rich history of working with several successful medical device companies globally," said Sanjeev Bhatt, senior vice president of Corporate Strategy at Meril. "The current investment establishes high degree of credibility to Indian medical devices in global landscape and will help us in deepening our international presence, attracting global talent, and scaling up our clinical research efforts in order to achieve our vision of improving the quality of human life through advanced healthcare solutions.”
Meril is an India-based global medtech platform dedicated to the design and development of clinically relevant devices. Meril offers a diversified product portfolio with more than 100 technologies in five therapy areas. The company currently has approximately 4,000 employees and has business in more than 100 countries.
Warburg Pincus is a global growth investor. The firm has more than $73 billion in private equity assets under management. The firm’s active portfolio of more than 235 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 20 private equity funds and two real estate funds, which have invested more than $100 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York City with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.