Private equity major Warburg Pincus will invest $210 million (₹1,500 crore) for a minority stake in Micro Life Sciences Private Limited, the parent organisation of Meril group of companies.

Founded by the Bilakhia family, Meril is a fast-growing medical devices company that designs, manufactures and distributes clinically relevant and medical devices, Warburg Pincus said in the statement.

Narendra Ostawal, Managing Director, Warburg Pincus India, said: “We are delighted to partner with Meril in their quest to build an innovation-led provider of medical products and solutions that are developed and made in India to serve the global market. We are excited by Meril’s compelling growth story and believe the company stands to benefit from the secular tailwinds of healthcare in India, realizing the potential of a strong pipeline of market-defining products and expansion into global markets.”

Micro Life Sciences was established in 2006 in Vapi in Gujarat as part of Bilakhia Holdings Pvt. Ltd and its promoters, part of the Bilakhia Group which is present in diversified sectors including key areas of education, life sciences and medical technology. 

Sanjeev Bhatt, Senior Vice President, Corporate Strategy Meril, said: “We are excited to partner with Warburg Pincus which has a rich history of working with several successful medical device companies globally. The current investment establishes high degree of credibility to Indian medical devices in the global landscape and will help us in deepening our international presence, attracting global talent, and scaling up our clinical research efforts in order to achieve our vision of improving the quality of human life through advanced healthcare solutions.”

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