InvAscent’s India Life Sciences Fund II Invests Across Two Medical Device Companies (Asia)

Source: VCCircle | Author(s): Shruti Ambavat

India-focused private equity firm InvAscent has invested INR920 million (approximately US$15 million) across two India-based medical device companies: Comprehensive Prosthetics and Orthotics (CPO), a manufacturer of artificial limbs, and Relisys, a manufacturer of medical devices that treat life-threatening diseases. The transactions were structured through India Life Sciences Fund II. InvAscent invested INR600 million (approximately US$10 million) in CPO, which intends to use the financing to open more than 60 clinics across India in the next year, and INR320 million (approximately US$5 million) in Relisys.