Indian medical device manufacturer Romsons Group has brought Singapore investment firm Temasek on board as a minority shareholder through a private equity transaction. Information published by Business Standard did not disclose the size of the investment or the stake acquired.
According to the company, the partnership will support its expansion in India and other markets, as well as strengthen its product portfolio, manufacturing capacity, technology and internal processes. Romsons also plans to invest in talent and enhance its financial, corporate governance and management structures as it scales up operations.
Romsons and Temasek will assess potential strategic partnerships and acquisitions in India and abroad, provided they align with the manufacturer’s objectives. This is therefore a future course of action, rather than acquisitions that have already been agreed or completed.
The company, which traces its origins back 70 years, believes Temasek’s international experience and long-term investment perspective will complement its knowledge of India’s health-care market. Romsons also said it could consider accessing public markets at a later stage, depending on business performance and market conditions.
