Mumbai, 9 January 2025: Integris Health, a leading medical devices company, has raised primary capital from a consortium of prominent investors, including Mukul Agarwal and India SME Fund. This funding will support the company’s expansion into multiple therapeutic areas such as in-vitro diagnostics and laboratory solutions through strategic acquisitions and in-house product development initiatives.
The investment marks a significant milestone for Integris Health, which aims to become one of India’s largest and most diversified medical devices players. In 2024, the company appointed Probir Das as CEO to lead its growth strategy. The company intends to list publicly by year-end 2025 and has commenced IPO preparations.
Avnish Mehra, Vice Chairman of Everstone Capital, said, “Integris Health’s growth trajectory reflects our commitment to building scalable healthcare platforms. This funding combined with the company’s proven product development capabilities, consistent organic growth and acquisition track record reinforces its position as a transformative med-tech devices business serving hospitals and laboratories globally.”
Gurmit Singh Chugh, Co-Founder and Chairman of Integris Health, added, “The Indian med-tech devices industry is experiencing an unprecedented growth phase akin to the transformative opportunities witnessed by the Indian pharmaceutical sector in the early 2000s. Integris Health is poised to spearhead this global evolution, leveraging its cutting-edge R&D, strategic partnerships, robust distribution capabilities, and the cost-efficiency of Indian manufacturing.”
Probir Das, CEO of Integris Health, commented, “The interest and support from prominent investors reflects the confidence in our vision to create India’s leading med-tech devices business. As we plan for our IPO, we remain committed to building Integris into a diversified business in this space. This market, particularly in developing economies is poised for significant growth due to low penetration levels, and Integris is well-positioned to capitalize on this opportunity.”
About Integris Health:
Integris Health, backed by Everstone Capital is an India-headquartered medical devices company with presence in interventional cardiology, cardiovascular and vascular surgery therapy areas. It is a fully integrated company with end-to-end presence in product development, manufacturing and sales and distribution with manufacturing facilities in Germany, Netherlands and India, and sales presence in over 50 markets. Over the years, the company has created strategic partnerships with leading hospitals, engineering institutes, global med-tech devices companies and renowned interventional cardiologists. Integris combines the best of German engineering, intellectual property and high-quality standards with India’s entrepreneurial culture and strong capabilities in manufacturing innovative products at affordable prices.
About Everstone Capital:
Everstone Capital is the Private Equity business of the Everstone Group, a global firm with assets under management exceeding USD 8 billion. Everstone Capital is committed to driving economic growth and creating sustainable value in India and Southeast Asia, with a mission to build great businesses with extraordinary people. The firm focuses on mid-market, control growth, and cross-border opportunities spanning Technology, Healthcare, Financial Services, and Industrials.