NEW DELHI: India-focused private equity firm Samara Capital has acquired stake in Gujarat-based stent-maker Sahajanand Medical Technologies (SMT) in a deal valued at close to Rs 170 crore. This is the firm’s second investment in the medical devices and consumables sector after the buyout of surgical consumables platform Lotus Surgicals.
SMT confirmed the development but did not divulge how much stake Samara has acquired in the company.
As part of the deal, Samara Capital’s managing director Gautam Gode and vice president Abhishek Kabra will come on SMT’s board. “We believe that the SMT team has the credibility and experience to build a large and global quality business while providing world-class products at affordable prices,” Gode said.
A majority of the PE firm’s investment is expected to fuel research and development to extend SMT’s product line in cardiovascular segment, SMT’s chief executive Ganesh Sabat said.
Recent Articles on M&A
Source: Economic Times
