Bengaluru-based BPL Medical Technologies Pvt. Ltd, a medical devices company backed by global investment bank Goldman Sachs, on Tuesday said it is acquiring UK-based medical devices manufacturer Penlon Ltd.
The firm did not disclose the value of the transaction.
Penlon is a global manufacturer of anaesthesia systems and vaporizers with a worldwide distribution network, BPL Medical said in a statement.
“Penlon’s product range complements BPL Medical’s existing portfolio and will help in expanding its presence in the critical care segment. Penlon will continue to be based and operated from the UK under the leadership of the existing management team,” the statement said.
BPL Medical expects the acquisition to help it penetrate the critical care segment.
“This acquisition will help us penetrate the large critical care segment in India with Penlon’s world-renowned, technology-driven an anaesthesia machines and vaporizers. BPL Medical will leverage Penlon’s R&D capabilities to develop many new products suitable for India and other emerging markets,” said Sunil Khurana, chief executive at BPL Medical.
Penlon’s global reach will help expand BPL Medical’s international presence, he added.
Penlon has a presence in the critical care segment with a footprint in 96 countries.
BPL Medical is one of India’s largest medical device companies with over 300 staff and a nationwide distributor network.
In 2013, Goldman Sachs invested Rs.110 crore in BPL Medical to fund the expansion of its medical devices business, Mint reported.
(This story was first published on livemint.com)