Goldman Sachs has entered into an agreement to invest US$20 million in BPL Medical Technologies, the medical device manufacturing unit of BPL Unit of India. This is the second investment conducted by the bank in India this month.
BPL Medical Technologies is in the business of distribution of medical devices such as electrocardiographs and defibrillator to its dealer throughout India. The funds infused would be used to expand the existing business of the firm, according to joint statement from Goldman Sachs and BPL.
In a previous investment just last week, Goldman Sachs had acquired a US$110 million share in cable distribution firm DEN Networks Ltd.
These are amongst the latest acquisitions in India, making it one of the hottest markets for mergers and acquisitions worldwide. Many foreign companies are riding the consumer boom with India having a total of US$9.86 billion this year, just ahead of China in data obtained Thomson Reuters.
In 2012, Goldman Sachs purchased a US$54 million stake in Nova Medical Centers, a surgical care and fertility clinics firm. Worldwide, Goldman Sachs has invested a total of US$8 billion in healthcare firms such as Biomet, iHealth Technologies and 30 other companies.
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