Private equity firm Samara Capital has signed pact to invest up to USD 25 million (over Rs 167 crore) in the Sahajanand Medical Technologies for acquiring a significant stake in the stent manufacturing firm.
The companies, however, did not specify the quantum of stake that is being acquired as part of the deal.
"Samara Capital Partners Fund II has signed definitive agreements to invest up to USD 25 million in Sahajanand Medical Technologies Pvt Ltd for a significant stake," the companies said in a joint statement.
As a part of the deal, Gautam Gode and Abhishek Kabra of Samara Capital will come on the board of Sahajanand Medical Technologies (SMT), it added.
"Samara has been actively researching and investing in the healthcare space and this is our second investment in the medical devices and consumables sector..." Samara Capital Co-Founder and MD Gautam Gode said.
SMT plans to establish itself as a global player with a complete suite of product offerings in the cardiovascular field along with Samara, the statement said.
"We are very excited to partner with Samara and use their expertise and network to take SMT to newer heights," SMT Vice Chairman Bhargav Kotadia said.
Established in 1998, stent manufacturing firm Sahajanand Medical Technologies sells its product in more than 60 countries across the world.
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