Nuvama has successfully advised on the largest M&A deal in Indian Medical Devices sector – Acquisition of significant majority stake in India’s leading ophthalmic products company, Appasamy Associates, by Warburg Pincus for a consideration of US$ 350mn+.
Appasamy Associates Private Limited (“AAPL”) is the largest domestic ophthalmic product manufacturer with presence across entire value chain of ophthalmic equipment, intraocular lenses (IOL), ophthalmic pharmaceuticals products and micro surgical instruments. AAPL has significant market share in several products and ranks amongst Top 3 players, by volume, in 15 key product segments across equipment and IOL Key products include phaco emulsifier, surgical microscope, green laser, yag laser, autoref keratometer, split lamp, hydrophobic and hydrophilic lenses. The company commands Vertically integrated manufacturing with strong R&D capabilities – ability to provide high quality products at affordable prices compared to global competitors.
This transaction reaffirms the increasing investor interest in the Indian medical devices space which is seeing a structural shift with domestic companies gaining traction and taking market share from
• Largest investment by Warburg Pincus in healthcare industry in India
Nuvama Investment Banking
Advised in the sale of
Appasamy Associates Private Limited
to