India-focused private equity firm InvAscent has invested INR600 million (approximately US$8.8 million) in India-based medical device and pharmaceutical distributor Sandor Medicaids. The transaction, which included convertible and non-convertible notes, was composed of a primary issue of shares and a secondary purchase from Somerset Indus Capital Partners, a private equity firm focusing on healthcare in India. InvAscent structured the transaction through India Life Sciences Fund II. Separately, Asia-focused private equity firm ADV Partners has invested US$45 million in Dr. Agarwal’s Healthcare, the holding company for India-listed hospital chain Dr. Agarwal’s Eye Hospital, facilitating an exit for InvAscent’s Evolvence India Life Sciences Fund. ADV Partners structured the transaction through ADV Opportunities Fund I. Dr. Agarwal’s will use the new capital to open locations in India.