Integris Health secures funding to expand med-tech business, plans IPO by 2025

Integris Health has raised primary capital from a consortium of investors, including Mukul Agarwal and India SME Fund. The funds will support the company’s expansion into new therapeutic areas such as in-vitro diagnostics and laboratory solutions through strategic acquisitions and in-house product development.

The funding is a key step in Integris Health’s strategy to become one of India’s largest and most diversified medical devices companies. The company appointed Probir Das as CEO in 2024 to drive its growth initiatives and is preparing for an IPO by the end of 2025.

Avnish Mehra, Vice Chairman of Everstone Capital, said, “Integris Health’s growth trajectory reflects our commitment to building scalable healthcare platforms. This funding combined with the company’s proven product development capabilities, consistent organic growth and acquisition track record reinforces its position as a transformative med-tech devices business serving hospitals and laboratories globally.”

Gurmit Singh Chugh, Co-Founder and Chairman of Integris Health, noted the industry’s current opportunities, saying, “The Indian med-tech devices industry is experiencing an unprecedented growth phase akin to the transformative opportunities witnessed by the Indian pharmaceutical sector in the early 2000s. Integris Health is poised to spearhead this global evolution, leveraging its cutting-edge R&D, strategic partnerships, robust distribution capabilities, and the cost-efficiency of Indian manufacturing.”

Probir Das, CEO of Integris Health, added, “The interest and support from prominent investors reflects the confidence in our vision to create India’s leading med-tech devices business. As we plan for our IPO, we remain committed to building Integris into a diversified business in this space. This market, particularly in developing economies, is poised for significant growth due to low penetration levels, and Integris is well-positioned to capitalize on this opportunity.”

Integris Health aims to leverage this funding to strengthen its position as a key player in the global med-tech sector. The company’s preparations for public listing mark a significant move towards scaling its operations and reaching new markets.