Motilal Oswal Alternates Injects $72 Million into Sensa Core Medical for Minority Stake

Motilal Oswal Alternates has invested $72 million in Hyderabad-based Sensa Core Medical Instrumentation, taking a minority stake in the company, as per news reports. 

The investment was made through its alternatives platform. The parties did not disclose the valuation or the exact size of the stake. Veda Corporate Advisors acted as adviser to the transaction. 

Sensa Core Medical Background 

Sensa Core Medical Instrumentation was founded in 2006 and operates in the in-vitro diagnostics (IVD) segment.  

The company designs, manufactures, and supplies diagnostic equipment used in hospitals and diagnostic laboratories. Its business has been built largely around electrolyte analysers, which remain its main product line. 

Product Portfolio 

Alongside electrolyte analysers, Sensa Core manufactures glucometers and haemoglobin meters. In recent years, the company has expanded into arterial blood gas analysers, a category used in critical care and emergency diagnostics.  

These products are used primarily by institutional customers rather than retail consumers. 

Market Reach 

Sensa Core’s devices are installed in more than 40,000 hospitals and diagnostic laboratories across India.  

The company also exports its products to over 78 countries. Overseas sales form part of its overall revenue mix, alongside domestic institutional demand. 

Manufacturing Operations 

The company currently operates a manufacturing facility at the Export Promotion Industrial Park in Pashamylaram, Hyderabad. It is also in the process of commissioning a second manufacturing unit at the Medical Device Park in Sultanpur, Hyderabad. 

The new facility is expected to add production capacity and support the rollout of additional diagnostic products. 

Founder and Management 

Sensa Core was founded by Ravi Kumar Meruva, who has over 3 decades of experience in electrochemistry, system design and applied medical technology.  

Following the investment, Meruva will continue as managing director. The company has not announced any changes to its management team. 

Read More: Motherson Inks Deal to Acquire Nexans Autoelectric GmbH’s Wiring Harness Business for €207 Million! 

Conclusion 

India’s medical devices market remains largely dependent on imports. Industry estimates indicate that more than 75% of medical devices used in the country are imported, with annual imports valued at over $8.5 billion. The investment provides Sensa Core with capital as it expands manufacturing capacity and its product range within an import-heavy market. 

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