Integris Health, a medical device sector player, has raised primary capital from a consortium of notable investors, including Mukul Agarwal and India SME Fund.
The company in a press statement on Thursday informed that the funding will drive the company’s expansion into diverse therapeutic areas such as in-vitro diagnostics and laboratory solutions through a blend of strategic acquisitions and in-house product development.
The company, which appointed Probir Das as CEO in 2024 to lead its strategic growth, is also preparing for an initial public offering (IPO) scheduled for late 2025.
Avnish Mehra, Vice Chairman of Everstone Capital, highlighted the significance of the investment, stating, "Integris Health's growth trajectory reflects our commitment to building scalable healthcare platforms. This funding combined with the company’s proven product development capabilities, consistent organic growth, and acquisition track record reinforces its position as a transformative med-tech devices business serving hospitals and laboratories globally."
Gurmit Singh Chugh, Co-Founder and Chairman of Integris Health, expressed optimism about the industry's future, adding, "The Indian med-tech devices industry is experiencing an unprecedented growth phase akin to the transformative opportunities witnessed by the Indian pharmaceutical sector in the early 2000s. Integris Health is poised to spearhead this global evolution, leveraging its cutting-edge R&D, strategic partnerships, robust distribution capabilities, and the cost-efficiency of Indian manufacturing."
CEO Probir Das emphasised the confidence of investors in the company’s vision, saying, “The interest and support from prominent investors reflects the confidence in our vision to create India’s leading med-tech devices business. As we plan for our IPO, we remain committed to building Integris into a diversified business in this space. This market, particularly in developing economies, is poised for significant growth due to low penetration levels, and Integris is well-positioned to capitalize on this opportunity.”
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