Jashvik Capital and Futura Surgicare to jointly build products for medical industry

Representation image (Credit: Pixabay)

Homegrown private equity firm Jashvik Capital on June 25 said that it is investing an undisclosed amount in Futura Surgicare, a Bangalore-based medical products, consumables and devices player, to build innovative devices and consumables across multiple specialty areas, drive organic and inorganic growth, and to deliver affordable access to high quality medical products in India and various international markets.

Established in 1994 by A.D. Setty, Futura Surgicare is a manufacturer of wound closure and surgical consumables and devices, and has nearly 400 employees and a manufacturing facility in Bangalore. It sells its products in over 10,000 hospitals in India across 26 states and has regulatory authorisations to sell its products in over 70 countries globally.

“We are very impressed with Futura’s singular focus on product quality and innovation, stickiness of a discerning customer base, and high standards of corporate governance,” said Naresh Patwari, Founder & Managing Partner of Jashvik Capital, adding, “we are excited about bringing this quality and product innovation focus to customers in India and international markets, and to accelerate organic and inorganic growth for Futura”.

A.D. Setty, Founder & Promoter of Futura, noted, “As the healthcare systems around the world reorient their supply chains post Covid, India has a big opportunity to help meet the needs of the world. We are excited about this opportunity to play a role in this generational shift”.

The Indian medical devices opportunity is large and growing – roughly $11.25 billion of domestic demand and $3 billion of global demand that can be serviced from India. Historically, this industry has grown at 10 percent and is likely to further accelerate as Indian healthcare providers focus on India-made high quality products and global supply chains reorient themselves.