BPL Medical Technologies, a leading medical device company, has secured an equity commitment of Rs1,100 million (approximately $20 million) from Goldman Sachs, a leading global investment bank. BPL Medical Technologies is a group company of BPL. The investment will be used to further expand the company’s medical device business and is subject to customary approvals.
Ajit Nambiar, Chairman and Managing Director of BPL said, “This landmark investment reinforces our vision to build on the BPL brand and well established sales and service network to create India’s leading, indigenous medical device company. We are keen to partner with Goldman Sachs to expand our product range and geographic footprint. Goldman Sachs brings a unique global perspective, coupled with extensive experience investing in India.”
Ankur Sahu, Co-Head of private equity in Asia at Goldman Sachs, said, “This investment reflects our continued focus on the Indian healthcare sector where we will continue to fund segments that have a great need and large untapped potential. Leveraging our global healthcare expertise and relationships, we are excited to partner with the BPL Group to build a high-quality medical device leader in India.”
Ankur Sahu and Harsh Nanda, an Executive Director at Goldman Sachs, will join the Board of BPL Medical Technologies.
EH News Bureau