Motilal Oswal Alternates invests $72 million in Sensa Core Medical

Mumbai: Motilal Oswal Alternates has invested $72 million in Sensa Core, a Hyderabad-based medical devices company, the company announced on Monday.

Founded in 2006, Sensa Core is engaged in the design (IP-driven), development, manufacturing and distribution of specialised in-vitro diagnostic devices. The company is a market leader in Electrolyte Analysers, achieving wide adoption across more than 40,000 hospitals and diagnostic labs in India, and exports to over 78 countries, it said.

Founded by Dr Ravi Kumar Meruva, Sensa Core also manufactures glucometers and haemoglobin meters, and has recently forayed into arterial blood gas analysers.


"Sensa Core exemplifies India’s new era of homegrown medical device champions, driven by rising demand for high-quality, affordable and globally competitive products," said Rohit Mantri, Managing Director and Co-Head of Private Equity at Motilal Oswal Alternates.

With this investment, Motilal Oswal Alternates continues to back high-quality companies in the life sciences space, especially R&D-led medical device innovators, he added.

"With a strong focus on expanding access to healthcare, we believe affordability can be achieved through local manufacturing and large-scale production. The investment from Motilal Oswal Alternates reinforces confidence in our vision," said Dr Ravi Kumar Meruva, Chairman & Founder, and now Managing Director of Sensa Core.

India imports over 75% of its medical devices, with annual imports exceeding $8.5 billion.

Motilal Oswal Alternates manages both private equity and real estate funds and cumulatively has assets under management of $3.1 billion across the two asset classes.