New Delhi, Dec 17 (PTI) Medical devices firm Healthium Medtech on Wednesday announced acquisition of a controlling stake in Paramount Surgimed Ltd.
Paramount Surgimed is one of India's largest manufacturers
and exporters of surgical blades, scalpels and dermal biopsy products.
The non-surgical business of Paramount, including its lifestyle and hygiene business will be carved out prior to the transaction and retained with its promoter Grover family, Healthium Medtech said in a statement.
The acquisition value was not disclosed by the company.
With the acquisition, Healthium will expand its specialised presence in the surgical consumables segment, where Paramount's blades and dermal biopsy categories represent a logical extension of its existing business line, it added.
"We see this as an opportunity to align our collective strengths toward a more competitive global position in surgical consumables," Healthium Medtech CEO and MD, Anish Bafna said.
Paramount has over three decades of specialised manufacturing expertise and has a global footprint built largely through exports, which account for more than 95 per cent of its revenue. It manufactures over 250 million devices annually.
The company serves more than 300 OEM and branded customers across over 100 countries, supported by a complete suite of international product registrations, including EU MDR and USFDA, the statement said.
Paramount Surgimed Managing Director Shaily Grover said Healthium's operational expertise and established global reach makes them an ideal partner for the company's next phase of growth.
"As we join forces, we will use the broader resources of a larger platform and an expanded portfolio to improve reliability and expand access across the markets we serve," Grover added. PTI RKL
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