Trivitron Healthcare has joined hands with India Value Fund Advisors (IVFA) to finance its next phase of growth. IVFA has invested Rs 150 crore for a minority stake in the company. IVFA joins existing investors Fidelity Growth Partners India and Fidelity Biosciences (USA) who had invested in the company a year ago.
Trivitron Healthcare was started in 1997 as a distributor of medical equipment and devices with focus in imaging, diagnostics and critical care & operating theatre segments.
Driven by its customer relationships and understanding of their need for affordable medical equipment, the company has pro-actively focused itself on building its own portfolio of innovative and affordable products customized for the Indian and emerging markets of the world.
Since 2008, the company has transformed itself through a combination of joint ventures, acquisitions and greenfield manufacturing efforts to become a multi-modality medical technology company supplying and supporting a diverse portfolio of its own manufactured cost effective medical equipment and products, in addition to premium high end products from its global medical equipment partners, a statement says.
Vishal Nevatia, managing partner IVFA said "We have been closely following the medical equipment industry in India and are very excited about this partnership. This deal showcases the IVFA investment philosophy of working with entrepreneurs and management teams looking to build high quality, globally competitive companies that are admired by all stakeholders".
GSK Velu, managing director Trivitron said, "We are extremely happy to bring on board India Value Fund as our growth partners along with Fidelity. With Fidelity's knowledge and expertise in the US/China/ India Medtech industry and IVFA's Indian healthcare sector expertise, experience and operating knowledge, Trivitron is well poised to become a top medical technology brand of global repute".