Private equity fund India Value Fund Advisors (IVFA) today said it has invested Rs 150 crore for a minority stake in medical equipment maker and distributor Trivitron Healthcare.

The funds will be used by the company for its next phase of growth, IVFA said in a statement here.

IVFA joins Fidelity Growth Partners India and Fidelity Biosciences (US), which have invested in the company last year, it said, adding, two of its representatives would join Trivitron’s board as directors and observers after investment.

The medical technology industry is a $ 5 billion opportunity in the country and growing at 15 per cent every year due to the large population and the growing middle class.

“Trivitron has a strong brand, an excellent track record in serving customers through a combination of cutting Edge medical technology, cost effective and innovative new products and seamless after sales service in the medical equipment industry,” IVFA head Vishal Nevatia said.

Trivitron was incorporated in 1997 as a distributor of medical equipment and devices with focus on imaging, diagnostics and critical care and operating theatre segments.

IVFA, which invests in mid-sized businesses, had six healthcare investments in the country and this is its sixth investment in the country’s healthcare sector, the statement said, adding its prior investments include Care Hospitals, Biocon, TTK Healthcare, DM Healthcare and Manipal Hospitals.

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