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Everstone Acquires India's CPC Diagnostics

Everstone Acquires India's CPC Diagnostics

Singapore headquartered private equity firm Everstone Group’s healthcare platform Everlife has made its first investment in India in Chennai-based CPC Diagnostics. The deal will help Everlife include core in-vitro diagnostic segments in its portfolio of medical devices and expand its presence to India.

Founded in 1987, CPC Diagnostics is a medical devices manufacturer and distributor with a presence across India, Sri Lanka and Bangladesh, and exports to countries in the Middle East and Europe. The company’s in-vitro diagnostic segments such as immunoassay, biochemistry, and hematology are one of the largest within the medical devices market.

Lab; research

Arjun Oberoi, vice-chairman at Everlife, said, “Its (CPC’s] strong manufacturing and R&D capabilities make them an ideal partner for us and we will help them expand in markets beyond India. Everlife can also leverage on CPC to grow its value segment range of products to cater to the growing demand of quality medical devices within emerging markets.”

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