Sale of Significant Stake in Appasamy Associates to Warburg Pincus – Largest PE deal in Indian Medical Devices (Ophthalmic) Industry

Private Equity

Service

June 2024

Date

Life Sciences

Sector

INR Undisclosed MN

Deal Value

Sale of Significant Stake in Appasamy Associates to Warburg Pincus – Largest PE deal in Indian Medical Devices (Ophthalmic) Industry

NUVAMA CONTRIBUTION

  • Exclusive financial advisor to Appasamy Associates Private Limited (AAPL) and founders’ families on significant stake sale to Shadow Point, an affiliate of Warburg Pincus
  • Played crucial role in highlighting the investment thesis which helped garner strong interest from potential investors
  • Hand-holding the client through the complex transaction/structuring process and provided guidance on deal contours
  • Negotiated valuation and commercial terms resulting in desired outcomes for all stakeholders
  • End-to-end project management ensuring smooth closure

DEAL DETAILS

  • Largest PE investment in Medical Devices (Ophthalmology) space in India
  • Sale of significant stake in AAPL to Warburg Pincus
  • AAPL is the largest domestic ophthalmic product manufacturer with presence across entire value chain of ophthalmic equipment, intraocular lenses (IOL), ophthalmic pharmaceuticals products and micro surgical instruments
  • AAPL has significant market share in several products and ranks amongst Top 3 players, by volume, in 15 key product segments across equipment and IOL
  • Vertically integrated manufacturing with strong R&D capabilities – ability to provide high quality products at affordable prices