Private equity firm Everstone Group has invested USD 35 million (around Rs 238 crore) in OmniActive Health Technologies to expand presence in the healthcare and wellness sector.
This is Everstone's third investment in the healthcare and wellness sector in less than a year, OmniActive Health Technologies said in a statement.
Commenting on the development, Everstone Group Co-Founder and Managing Partner Sameer Sain said: "This investment aims at helping OmniActive scale its already strong presence in the fast-growing nutraceutical space." The Group is excited about partnering with the Mariwala family and building a world-class global business, he added.
The Everstone investment, which gives it a significant minority stake, will help OmniActive in diversifying and expanding its offerings, the statement said.
OmniActive will use the proceeds for its inorganic growth strategy and execute the acquisition opportunities it has identified, it added.
"We welcome this partnership with the Everstone Group. With the support of its experienced teams and funding, OmniActive looks forward to building on our history of solid organic growth by further strengthening our presence globally using innovative products and technologies," OmniActive Health Technologies Managing Director Sanjaya Mariwala said.
This will be done by also growing inorganically to bring a wider product portfolio of responsibly made ingredients to the company's customers through strategic acquisitions, he added.
OmniActive is a supplier of naturally sourced ingredients for eye health, weight management and heart health to global nutraceutical companies that provide food supplements and nutritional fortification.
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