Kotak Strategic Situations India Fund II (KSSF II), managed by Kotak Alternate Asset Managers Limited (Kotak Alt), announced an investment of up to Rs 400 crore in medical device manufacturer Biorad Medisys. This significant investment is aimed at bolstering Biorad Medisys’ growth by setting up a new manufacturing plant, repaying existing debt, and meeting increasing working capital requirements.
Established in 1999, Biorad Medisys specializes in orthopedic implants for knee and hip replacements, as well as surgical consumables for urology, gastroenterology, and neuro-vascular intervention. The company operates manufacturing facilities in Pune and Bengaluru and markets its products both domestically and internationally, reaching regions such as Latin America, Europe, Southeast Asia, and the Middle East.
Eshwar Karra, CEO of KSSF, highlighted the potential of the Indian medical devices industry, stating, “The Indian medical devices industry is at an inflection point, with increasing demand for quality healthcare. Along with the Government’s support for domestic manufacturers through the ‘Make in India’ campaign, we believe that Biorad Medisys is well poised to capture this growth over the coming years.”
Jitendra Hegde, Managing Director of Biorad Medisys, expressed optimism about the partnership with KSSF II, stating, “We will now strive to scale the business to newer heights through sustainable value creation and providing best-in-class quality and performance.”
KSSF II is a $1.5 billion fund focused on providing solution capital for growth and value creation opportunities. This latest investment underscores Kotak Alt’s commitment to fostering innovation and growth in the healthcare sector, positioning Biorad Medisys for significant expansion and market penetration.
The partnership is expected to enhance Biorad Medisys’ production capabilities and market reach, contributing to the broader objective of strengthening India’s domestic medical device manufacturing industry and supporting the ‘Make in India’ initiative.
Kotak Alternate Asset Managers Limited, part of the Kotak Mahindra Group, manages alternative investment funds and provides strategic capital solutions to companies in various sectors. The firm is known for its expertise in identifying and nurturing high-potential businesses, driving growth through strategic investments.
Founded in 1999, Biorad Medisys is a leading manufacturer of medical devices, specializing in orthopedic implants and surgical consumables. With manufacturing facilities in Pune and Bengaluru, the company serves both the Indian market and international markets across multiple continents, maintaining a strong focus on quality and innovation.
