Healthcare & Life Sciences
VedaCorp advises SensaCore, an IP-driven IVD Medtech Player on its INR 650 Crore raise from Motilal Oswal Alternates
About
Sensa Core
SensaCore is one of the few Indian IP driven in-vitro diagnostic devices/consumables manufacturers with revenue scale and design expertise. Founded by Dr. Ravi Kumar Meruva, PhD – a technocrat entrepreneur with over 25 years of deep expertise in electrochemistry, system design, and applied medical technology. The Company is a market leader in Electrolyte Analysers in India and a leading manufacturer of Blood Gas Analysers, Glucometers, and Haemoglobin meters.
Motilal Oswal Alternates
MO Alternate Investment Advisors Private Limited (“Motilal Oswal Alternates”) is a diversified financial services group. It manages both private equity and real estate funds and cumulatively has an AUM of ~USD 3.1 bn. The private equity vertical focuses on providing growth capital to mid-market companies across consumer, financial services, life sciences and niche manufacturing sectors.
Background
We are pleased to share that our client, Sensa Core Medical Instrumentation Private Limited (“SensaCore”), has successfully raised INR 650Cr from Motilal Oswal Alternates, marking one of the largest minority deals in the diagnostic consumables segment. The capital will fuel SensaCore’s next phase of growth, supporting both organic and inorganic expansion, along with partial secondary purchases from existing shareholders.
Founded in Hyderabad in 2006, SensaCore is an IP-driven leader in the design, development, manufacturing, and distribution of specialized in-vitro diagnostic devices and consumables, with its products trusted by 25,000+ hospitals and diagnostic labs across India and exported to over 15 countries worldwide..
Veda Corporate Advisors (“VedaCorp”) acted as the exclusive financial advisor to the Company and its promoters, delivering end-to-end transaction advisory – from investor identification and strategic deal structuring to diligence support, negotiations, and finalisation of key commercial terms – culminating in the successful closure of the transaction.
“This marks VedaCorp’s 6th transaction in the medical consumables space and 65th transaction in healthcare and life sciences space”
“VedaCorp played a vital role in guiding us through the entire fund-raising process in a very professional and structured manner. As a company that had been bootstrapped since inception and was seeking external capital for the first time, we needed guidance and hand holding, which VedaCorp readily provided. Their extensive knowledge of the healthcare sector allowed them to grasp Sensacore’s unique and niche value proposition and connect us with partners who shared our vision. The entire team demonstrated exceptional diligence, commitment, and hard work. The journey from our initial engagement to receiving an investment offer and finally closing the deal has been extremely enriching and rewarding, thanks to VedaCorp”
Dr. Ravi Kumar Meruva
Chairman & Founder - SensaCore
‘‘VedaCorp has been actively partnering with companies in India’s medical consumables sector, where Sensacore shines for its innovative development and production of world-class products from India. Sensacore’s IVD solutions have replaced numerous multinational products worldwide by offering top-tier quality at competitive prices. The partnership with Motilal Oswal will further enable the company to institutionalize its operations, expand its product portfolio and deepen its reach in global markets.”
Abinandan T.S and Rajan VP
Managing Directors – VedaCorp