BPL Medical Technologies (BPL Medical), a leading Indian medical devices company backed by global investment bank Goldman Sachs, today announced the acquisition of UK-based Penlon Ltd (Penlon).
"We have acquired Penlon, a UK-based, leading global manufacturer of anaesthesia systems and vaporizers with worldwide distribution networks.
"The acquisition will increase BPL Medical's presence and distribution in other emerging and developed markets," BPL Medical Technologies said in a statement.
Penlon's product range complements BPL Medical's existing portfolio and will help in expanding its presence in critical care segment. Penlon will continue to be based in and operated from the UK under the leadership of the existing management team, it added.
Penlon is an internationally recognised brand in critical care segment with a footprint in 96 countries, including India. With a strong focus on product innovation and a leading position in developed and emerging markets, the company designs, engineers and manufactures anaesthesia systems, vaporizers and other complementary products.
These products are sourced by hospitals, pharmaceutical companies and anaesthesia system manufacturers worldwide.
BPL Medical is one of the leading domestic medical device companies with over 300 personnel and a nationwide distributor network. In August 2013, Goldman Sachs invested in BPL Medical to fund the expansion of its medical devices business.
"This acquisition will help us penetrate the large critical care segment in India with Penlon's world-renowned, technology-driven anaesthesia machines and vaporizers," said Sunil Khurana, Chief Executive Officer, BPL Medical.
BPL Medical will also leverage Penlon's R&D capabilities to develop many new products suitable for India and other emerging markets. Additionally, Penlon's global reach will help expand BPL Medical's international presence, Khurana added.
"This partnership secures a long term investment which underpins our product strategy to develop world class anaesthesia machines, monitors and next-generation vaporizers over the coming years.
"We now plan to expand our product development capabilities across the business and will bring forward a number of key projects," said Stephen Moon, Chief Executive Officer, Penlon.
We will also benefit from BPL Medical's strength in India which will provide substantial growth in the years to come, Moon said.
