New Delhi: Abu Dhabi Investment Authority (Adia), the largest sovereign power fund of the VAE, has concluded a definitive agreement to invest $ 200 million (approximately RS 1,700 crore) for a 3% interest in Meril (Micro Life Sciences), a company for medical devices. These Meril investment values on a operating value of $ 6.6 billion (approximately RS 56,000 crore), says a business statement. The transaction is subject to legal approval by the Competition Committee of India (CCI). After this deal, Meril is supported by two globally recognized investors – Adia and Warburg Pincus, it adds. In 2022, Warburg Pincus announced that it will invest $ 210 million for a minority interest in Meril. Sanjeev Bhatt, Senior Vice President-Strategy, Meril, said: “This investment by Adia strengthens confidence in Meril’s long-term vision and global ambitions. This investment will enable us to accelerate growth, to attract world class talent and further strengthen our R&D research efforts by the improvement of the improvement of the tensions by paving by Healthcare. ” Meril, founded by the Bilakhia Group, has a strong focus on clinically advanced solutions in multiple specialties, including cardiovascular, structural heart, orthopedics, endo-surgery, in vitro diagnostics and surgical robotics. With headquarters in VAPI (Gujarat), Meril operates ultramodern, vertically integrated and worldwide certified production and R&D facilities. Adia, founded in 1976, is a globally diversified investment institution that invests funds on behalf of the Abu Dhabi GOVT through a strategy aimed at making value in the long term.
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