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Medical device maker Trivitron Healthcare is looking for private equity funding to the tune of $100 million.
“We will start talking to potential investors in February/March and close the deal in three months,” said Mr G.S.K. Velu, Founder and Managing Director, Trivitron, which is eyeing top private equity investors globally.
This is the second time the company is looking for funding; the money will go into its acquisition and capacity expansion.
Trivitron is planning capacity expansion at its medical technology park at Irungattukottai, near Chennai. It is also scouting for buys in Europe and the US in cardiac diagnostic imaging.
Recently, the company acquired minority stake in Mumbai-based Kiran Medical Systems, which is into image enhancement and radiation protection. It acquired Pune-based Vision Engineering (X-ray machines manufacturer) in 2008.
Trivitron's first round of funding was in 2007 when it acquired Rs 50 crore from HSBC Private Equity and ePlanet Ventures.
Dental alliance
Trivitron is also looking at raising funds for its dental care venture with Apollo Hospitals. Currently, the alliance operates 20 dental clinics. “We will soon launch a new brand identity and four different formats to cater to different economic strata,” said Mr Velu, during the launch of three ‘Maxivision' eye hospitals in Chennai.
Maxivision
Mr Velu is also the Chairman of Medfort Hospitals, which recently acquired Hyderabad-based eye-care chain Maxivision. Currently, there are 16 Maxivision centres in the country. The aim is to establish 50 over the next two years. TVS Capital Funds and ePlanet Ventures have invested close to Rs 85 crore in this venture.
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