Private equity majors eye minority stake in medical device company

NEW DELHI: A clutch of global private equity (PE) players are eyeing a minority stake in Romsons Group, a medical device manufacturer, for around Rs 1,200 crore, in one of the largest deals in this space.

PE firms, including Warburg Pincus and TA Associates, have emerged as frontrunners, sources told TOI. The Agra-based group, founded in 1952, is among the largest medical consumables manufacturers, with a portfolio spanning syringes, catheters, infusion sets, and other disposables. Due diligence is currently underway, and the transaction is likely to be closed within next two-to-four weeks, sources close to development say.

The family-run company has built a distribution network that reaches hospitals across India and exports to over 100 countries. With steady demand in critical care and diagnostics, Romsons has positioned itself as a market leader in low-cost, high-volume products, attracting investors seeking scale and global reach. Company officials were not available for comments. Over the last couple of years, the sector has witnessed a flurry of private equity and venture capital investments, that have also led to an increase in the local manufacturing footprint.

The past few months, in particular, have seen a marked uptick in domestic production, supported by fresh capital from both domestic firms and multinational players, seeking to tap into growing medtech market. The industry, currently valued around $16 billion, is projected to nearly double to $30 billion by 2030.

Among large deals, Abu Dhabi Investment Authority (ADIA) invested $200 million for about a 3% stake in Gujarat-based medtech leader Meril in July. Earlier, Warburg Pincus acquired a majority stake in ophthalmic equipment company Appasamy Associates for $300 million, Samara Capital invested $150 million in stent manufacturer SMT, while Everstone Capital injected funds into another stent manufacturer Translumina.