Piramal acquires US-based Minrad International Inc

MUMBAI: Healthcare company Piramal Healthcare has acquired US-based Minrad International Inc for $40 million (Rs 188 crore), one of the largest companies in the interventional pain management segment.

Shares of Nicholas Piramal are currently trading down at 3.2% at Rs 235.10 on the BSE. The broader BSE sensex is down 2.18%.

Earlier, Piramal Healthcare had entered into an agreement with the US-based Minrad Inc for exclusive distribution and marketing of the latters products in the international market Piramal Healthcare also markets Minrad's products in the domestic market, starting with isoflurane.

According to Minrad's website, their businesses are focused in three areas- anesthesia and analgesia, real-time image guidance and conscious se-dation. The company's products are sold throughout the world.