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Goldman Sachs acquires 49% stake in BPL Medical Technologies

Goldman Sachs, a global investment bank, has acquired 49% stake in India-based BPL Medical Technologies, a group company of BPL Limited, for INR1.1bn ($20.08m)

The investment would help in expanding the business of BPL Medical Technologies.

Goldman Sachs Asia Co-Head of private equity Ankur Sahu said that the deal is part of the company’s focus on the healthcare sector.

Since 2006, the global investment bank has invested more than $2bn in Indian firms including the healthcare companies such as Max India and Nova Medical Centers.

BPL Limited chairman and managing director Ajit Nambiar was quoted by Livemint.com as saying that the investment would help the company to develop the BPL brand further.

"We are keen to partner with Goldman Sachs to expand our product range and geographic footprint," Nambiar added.

BPL Medical Technologies sells medical devices such as ultrasound scanners, electrocardiographs, defibrillators, patient monitors, X-ray machines, central nursing stations, oxygenerators, colposcopes, stress test systems, foetal monitors and dopplers.