The India Value Fund Advisors (IVFA) has picked up a minority stake in Trivitron Healthcare Private Limited (THPL) by infusing Rs 150 crore. IVFA joins existing investors Fidelity Growth Partners India and Fidelity Biosciences (USA) who had invested in the company a year ago.
The Chennai-based company which is the distributor of medical equipment and devices with focus in imaging, diagnostics and critical care & operating theatre segments.
The company will use the money to fund its next phase of growth.
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Vishal Nevatia, managing partner, IVFA commented that the fund has been closely following the medical equipment industry in India and are very excited about this partnership. This deal showcases the IVFA investment philosophy of working with entrepreneurs and management teams looking to build high quality, globally competitive companies that are admired by all stakeholders.
Trivitron has a strong brand, got cutting edge medical technology, cost effective and innovative new products and seamless after sales service in the medical equipment industry in India, he added.
Dr. G.S.K Velu, Managing Director, Trivitron said, India Value Fund comes as company's Growth partners along with Fidelity.
With Fidelity’s knowledge and expertise in the USA/ China/ India Medtech industry and IVFA’s Indian healthcare sector expertise, experience and operating knowledge, Trivitron is well poised to become a top medical technology brand of global repute.
With own patents, R&D efforts in India/ Finland and over 8 CE and/or US FDA certified manufacturing facilities in four locations.
IVFA invests in mid-sized profitable businesses to help transform them into industry leading companies. This is IVFA’s sixth investment in the Indian healthcare industry with prior investments in Care Hospitals, Biocon, TTK Healthcare, DM Healthcare and Manipal Hospitals and reflects a continuing desire to invest in companies looking to improve the quality, affordability and access to healthcare in India.
Mahesh Krishnamurthy and Siddharth Dhondiyal from IVFA have joined as Director and Observer on the Board of the Company respectively.