Rumors circulating about InvAscent, KKR, TPG, Kedaara, Multiples, Kalaari, and Reliance making headlines in recent news
In the bustling Indian market, private equity firms KKR and TPG are making significant strides in the medical devices sector. Their recent focus has been on Sensa Core Medical Instrumentation, one of India's largest homegrown medical device manufacturers.
According to reports, KKR, TPG, Apax, Kedaara Capital, and Multiples Alternate Asset Management are in early-stage discussions to acquire a majority stake in Sensa Core, which could be valued at around $300 million (₹2,600 crore). Sensa Core, based in Hyderabad, produces a variety of medical devices such as blood gas analyzers, glucose meters, and cholesterol meters, primarily catering to in-vitro diagnostics and point-of-care devices.
As of late July 2025, TPG has reportedly emerged as the frontrunner to actually acquire the majority stake in Sensa Core. KKR, on the other hand, has recently completed a $6.5 billion fundraise focused on asset-based finance funds, indicating their strong global investment capacity.
This renewed interest in Indian medtech by these private equity heavyweights underscores the sector's rapid growth and potential. Projections suggest that the Indian medtech industry will grow from $12 billion in FY24 to around $50 billion by 2030. The sector's appeal lies in its steady revenue models and the increasing global competitiveness of Indian medical device companies.
Here's a summary of the recent Indian investment activities of KKR, TPG, Apax, Kedaara Capital, and Multiples Alternate Asset Management:
| PE Firm | Recent Indian Investment Activity | Notes | |---------|------------------------------------------------------------|--------------------------------------------------------------------| | KKR | Early-stage discussions for majority stake in Sensa Core | Part of larger $6.5B fundraise; declined comment on Sensa Core deal| | TPG | Emerged frontrunner to acquire majority stake in Sensa Core | Active in Indian pharma packaging sector as well | | Apax | Interested in Sensa Core stake | Less public update recently | | Kedaara / Multiples | Also interested in Sensa Core | Early-stage discussions |
These firms' focus on India's medtech space signals a strong confidence in the sector’s growth trajectory and investment potential. However, no information about the timeline for these potential deals has been provided.
Finance plays a crucial role in the upcoming takeover of Sensa Core Medical Instrumentation, as private equity firms KKR and TPG, along with Apax, Kedaara Capital, and Multiples Alternate Asset Management, discuss acquiring a majority stake in the Hyderabad-based medical device manufacturer, potentially valued at $300 million. KKR recently completed a $6.5 billion fundraise focused on asset-based finance funds, demonstrating their strong global investment capacity.
