Healthcare & Life Sciences
Leixir Resources raised private equity from GSK Ventures
About
Leixir Resources
Promoted by Harmeet Singh Bindra and Mangesh Sholapure, Leixir is a chain of dental labs in North America, acquired brown-field and integrated into a global supply chain. The Company has acquired running labs and transitioned the businesses to drive immediate and long term synergies. Leixir currently runs dental labs in Florida, New York, Vancouver and Toronto, with an offshore design and manufacturing centre in India. IvyCap Ventures is an early investor in the Company. The investment in Leixir by GSK Ventures comes swiftly on the heels of the Company raising mezzanine funding from Source Capital LLC.
GSK Ventures
GSK Ventures is the family office of Dr. GSK Velu, serial healthcare entrepreneur and one among the 20 most influential people in the Indian Healthcare Industry as listed by Modern Medicare. He is a first generation entrepreneur with over 23 years of experience in the healthcare segment and has been instrumental in the evolution of medical technology and diagnostics industries in India. Dr.Velu’s other established companies include Trivitron Healthcare, Maxivision Eye Hospitals and two JVs with Apollo Hospitals to run dialysis and dental clinics.
Background
We are pleased to announce that GSK Ventures has acquired a minority stake in our client Leixir Resources Private Ltd. (“Leixir”), a chain of integrated dental labs in North America.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Leixir and its promoters in the transaction. VedaCorp provided comprehensive transaction advisory services, including positioning, valuation and negotiation of definitive agreements, leading to the successful closure of the transaction.
This is VedaCorp’s 10th transaction in the healthcare domain in the last 2 years. This also marks our 23rd transaction in the healthcare domain across segments.