Everlife plans to support CPC’s manufacturing and distribution capabilities within India and South-East Asia
The Everstone Group via its healthcare platform Everlife has acquired a stake in Chennai-based CPC Diagnostics, to include core in-vitro diagnostics (IVD) segments in its portfolio of medical devices and extend its geographical presence to India, with this first investment in the country.
With this strategic investment, Everlife plans to support CPC’s manufacturing and distribution capabilities within India and South-East Asia, to become the leading IVD distributor in India.
Dr Arjun Oberoi, Vice Chairman, Everlife and MD, Everstone Capital stated, “We are delighted to invest in CPC Diagnostics and help scale up its presence across the diagnostics sector. Its strong manufacturing and R&D capabilities make them an ideal partner for us and we will help them expand in markets beyond India. Everlife can also leverage on CPC to grow its value segment range of products, to cater to the growing demand of quality medical devices within emerging markets.”
Commenting on the investment, R Kailasnath, MD, CPC Diagnostics said, “We are excited about this partnership and look forward to work closely with Everlife’s leadership. Everlife is creating a pan South Asian and South-East Asian distribution and manufacturing platform for IVD and other laboratory/medical device segments and we are looking forward to contributing to this objective.”
The investment will allow CPC to consolidate their position in these core segments while expanding territorial reach.