Abu Dhabi Investment Authority to buy 3% stake in Micro Life Sciences for $200 mn
Abu Dhabi Investment Authority on Monday said it will acquire a 3 per cent stake in medical devices firm Micro Life Sciences Pvt Ltd (Meril) for USD 200 million. A wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) has entered into definitive agreements to invest USD 200 million for a 3 per cent stake in Meril. This investment values the firm at an enterprise value of USD 6.6 billion, ADIA said in a statement. The transaction is subject to regulatory approval by the Competition Commission of India (CCI).
Founded by the Bilakhia Group, Meril is a global innovator in medical technology with a focus on clinically advanced solutions across multiple specialities, including cardiovascular, structural heart, orthopaedics, endo-surgery, in-vitro diagnostics and surgical robotics.
Headquartered in Vapi, Gujarat, Meril employs more than 13,000 people, has over 35 global subsidiaries, and serves healthcare systems in around 150 countries. "This investment will enable us to accelerate growth, attract world-class talent, and further strengthen our...clinical research efforts as we work towards improving the quality of human life through advanced healthcare solutions," Sanjeev Bhatt, Senior Vice President - Strategy at Meril, said.
Established in 1976, ADIA is a globally diversified investment institution that prudently invests funds on behalf of the Abu Dhabi government through a strategy focused on long-term value creation.
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