Private equity firm Kedaara Capital on Tuesday announced that it has invested $200 million in Tynor Orthotics Pvt. Ltd., an Indian manufacturer of orthopaedic supports, mobility aids, and rehabilitation products.
Following the investment, Kedaara Capital will work closely with Tynor’s promoters Dr PJ Singh and AJ Singh, its professional management team, and strategic partner Thuasne to build an ortho-focused wellness platform, the firm said in a statement.
Further, the partnership will focus on expanding Tynor’s presence across India and international markets while strengthening its manufacturing capabilities, it added.
“Big aspiration of Tynor to become the leader of global south and an indispensable supply-chain partner for global north shall now be achieved by having Kedaara as a partner. Agility of Kedaara and robust process approach of Tynor shall bring an unprecedented trajectory of growth,” said Dr PJ Singh and AJ Singh, promoters of Tynor.
Founded in 1993, Tynor has built a presence across orthopaedic care, rehabilitation, and sports performance products. The company caters to more than 3,00,000 retail outlets and 8,000 hospitals across 60 countries, with its products having reached over 100 million users.
Tynor operates three manufacturing facilities spread across 6.5 lakh sq ft and claims to use lean manufacturing processes to produce its products at competitive prices.
“India’s medical devices sector is among the fastest-growing in the world, and Tynor represents a rare opportunity to partner with a clear category leader in orthopaedic supports and rehabilitation,” said Sunish Sharma, founder and managing partner, Kedaara Capital.
o3 Capital acted as the exclusive financial advisor for the transaction.
