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In a significant development for India’s healthcare sector, Warburg Pincus, a prominent global growth investor, has made a substantial investment in Appasamy Associates Pvt. Ltd., the leading Indian brand specializing in ophthalmic equipment and intraocular lenses (IOLs). This investment marks a major milestone as the largest healthcare sector investment by Warburg Pincus in India.
Appasamy Associates, headquartered in Chennai, has established itself as a premier manufacturer of ophthalmic devices in India, covering a wide range of products from diagnostic tools to surgical equipment and IOLs. The company’s commitment to vertical integration in manufacturing and robust research and development capabilities enables it to deliver products that meet international standards at competitive prices.
The investment from Warburg Pincus signifies confidence in Appasamy’s position as a market leader in India’s ophthalmic medical devices segment. With a strong focus on product innovation and expanding export markets, Appasamy is poised for significant growth opportunities in the coming years.
Senthil Kumar, the recently appointed CEO of Appasamy, expressed enthusiasm about the partnership with Warburg Pincus, highlighting the favorable outlook for the Indian healthcare sector, particularly in ophthalmology. He emphasized the potential for growth both domestically and internationally as Appasamy enters a new phase of expansion.
Warburg Pincus, known for its strategic investments in high-growth sectors, acknowledges the exceptional track record and vision of Appasamy’s promoters and management team. Narendra Ostawal, Head of India Private Equity at Warburg Pincus, commended Appasamy’s achievements over the past four decades, positioning it as a provider of affordable, high-quality ophthalmic solutions across various product categories.
The collaboration between Appasamy and Warburg Pincus is expected to leverage the latter’s global healthcare expertise and long-term business-building focus in India. This investment underscores Warburg Pincus’ continued commitment to India’s growth story and its confidence in the potential of the Indian healthcare industry.
The transaction was facilitated by Nuvama Investment Banking, serving as the exclusive financial advisor. With Warburg Pincus’s extensive experience in the Indian market and a portfolio that includes notable healthcare sector investments, such as Meril Life Sciences, MedPlus, Laurus Labs, and Metropolis Healthcare, the partnership with Appasamy signifies a significant step forward for both entities in driving innovation and accessibility in healthcare solutions.
Sources By Agencies
