Peepul Capital-backed medical equipment company Cura Healthcare has acquired ultrasound machine dealer DE Healthcare, a move that will pitch Cura in the ₹ 850-crore Indian market for ultrasound machines.
Declining to disclose the deal value, top executives of the two companies said the union will help Cura leverage the field staff of DE, which has done over 600 ultrasound machine installations in South India.
“By acquiring DE Healthcare, we will be able to get to grab a market share of 15 per cent in the next two years,” said M Balasubramaniam, Chief Executive officer, Cura Healthcare.
The company received its second round of funding from Chennai-based Peepul Capital of ₹ 36 crore, about half of which has been set aside for acquisitions, he said. Last month, it acquired equipment maker Concept Integrations Pvt Ltd to enter the market for echocardiograms and other cardiac care medical equipment. Balasubramaniam said two more acquisitions are on cards.
The market for ultrasound is high on competition with multinational companies such as GE Healthcare and Philips Healthcare vying for customers, said S Balaji, who founded DE Healthcare in 1996. “But, our selling point lies in affordability and better image qualities,” he said, who is a formed employee of GE healthcare. The ultrasound range of DE begins at about ₹ 12 lakh and goes on upto ₹ 60 lakh.
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