Mumbai: Kedaara Capital has acquired about a 51% stake in Tynor Orthotics, an Indian manufacturer and brand of orthopaedic supports, mobility aids and rehabilitation products.
Kedaara will invest about $200 million to acquire the majority stake as the private equity firm expands its healthcare and medical devices portfolio, according to a company statement.
Founded in 1993 and based in Mohali, Tynor has products spanning orthopaedic supports, mobility aids, rehabilitation and sports performance. The company has a distribution network covering more than 300,000 retail outlets and 8,000 hospitals across 60 countries, and says its products have reached more than 100 million people, it said.
Tynor operates three manufacturing facilities, with a focus on lean manufacturing and globally compliant production capabilities.
Kedaara will partner with Tynor’s promoters, Dr P.J. Singh and A.J. Singh, its professional management team and French orthopaedic company Thuasne, which has been a strategic partner in the business since 2010.
The partnership will focus on expanding Tynor’s presence in India and international markets, strengthening its manufacturing capabilities and building a broader orthopaedic and wellness platform, it said.
Sunish Sharma, founder and managing partner at Kedaara Capital, said, “India’s medical devices sector is among the fastest-growing globally, and Tynor represents a rare opportunity to partner with a category leader in orthopaedic supports and rehabilitation.”
O3 Capital acted as the exclusive financial advisor to Tynor on the transaction.
