Cardiac stents maker Sahajanand Medical Technologies has raised Rs 230 crore from Morgan Stanley Private Equity Asia and Samara Capital.
Cardiac stents maker Sahajanand Medical Technologies (SMT) has raised Rs 230 crore from Morgan Stanley Private Equity Asia and Samara Capital.
"As part of the current transaction, a fund managed by Morgan Stanley has invested Rs 160 crore into the company for a minority stake. Our existing investor Samara Capital also participated in the round with Rs 70 crore," SMT said in statement today.
The proceeds from the transaction will be used to finance SMT's organic growth, acquisitions and R&D.
Founded in 2001, SMT is one of the first Asian companies to indigenously develop and manufacture coronary stents and is the market leader of minimally invasive coronary stents (drug-eluting and bare metal), renal stents, PTCA balloon catheters and other cardio vascular accessories in the country.SMT has a plant in Gujarat and two R&D centers, of which one is in Ireland.