Medical device and technology provider Trivitron Healthcare has picked up minority stake in Mumbai-based Kiran Medical Systems, a player in the image enhancement and radiation protection space.
The investment in Kiran combines a cash component and a stock swap. The agreement between the two companies also provides for Trivitron to increase its shareholding over the next few years.
Kiran Medical, which manufactures cassettes, screens, grids, shields and computer radiography systems, has a 70,000 sq. ft manufacturing facility in Mumbai.
Trivitron is currently present in the imaging market through a joint venture with Hitachi Aloka Medical, which offers ultrasound and colour Doppler technologies.
“The investment in Kiran will help Trivitron extend its imaging product portfolio and cater to the needs of radiologists and cardiologists across the globe,” said a press release.
It will also strengthen Trivitron's presence in South/ South-East Asia, West Asia and Africa and also make an entry into US, Europe, Japan & Latin America where Kiran has a strong presence, the release added.
Mr Ramesh Modi, CEO, Kiran Medical will continue to operate the business of Kiran as an independent entity. Kiran exports its products to over 160 countries across the world.