CCI Clears Abu Dhabi Investment Arm’s Stake Buy in Micro Life Sciences

The Acquirer, Platinum Jasmine A 2018 Trust, is an investment vehicle owned and controlled by the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds.

The Competition Commission of India (CCI) has approved the proposed acquisition of a minority stake in Micro Life Sciences Pvt. Ltd., a leading Indian medical devices and diagnostics company, by Platinum Jasmine A 2018 Trust, acting through its trustee Platinum Owl C 2018 RSC Limited.

The deal involves the Acquirer subscribing to newly issued equity shares of Micro Life Sciences and also purchasing a portion of equity shares from Bilakhia Holdings Pvt. Ltd., amounting to a combined 3.06% stake in the company.

About the Acquirer

The Acquirer, Platinum Jasmine A 2018 Trust, is an investment vehicle owned and controlled by the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds.

While ADIA has made several portfolio investments in India, it does not have direct operational activities or a physical presence in the country. Its focus remains on making strategic investments across sectors with long-term growth potential.

About Micro Life Sciences

Micro Life Sciences Pvt. Ltd., along with its subsidiaries, is a diversified player in the healthcare sector, with expertise in medical devices, diagnostics, and self-testing solutions. Its key areas of operation include:

• Medical Devices:

  • Cardiovascular devices such as stents, angioplasty catheters, and heart valves.

  • Orthopaedic implants and endo-surgery products like sutures, staplers, meshes, and intrauterine devices.

• Diagnostics:

  • Development and supply of in-vitro diagnostic analyzers and reagents.

  • Self-testing kits, including COVID-19 kits and pregnancy tests, which became especially significant during the pandemic.

• Specialised B2C Offerings:

  • Sale of surgical robots, ultrasonic energy devices, and advanced medical equipment to hospitals and clinical institutions.

In addition to manufacturing, the company has research and development (R&D) facilities dedicated to innovations in diagnostics, orthopaedics, endo-surgery, and cardiovascular solutions.

Strategic Importance of the Deal

The approval of this deal by the CCI indicates that the acquisition does not pose any adverse impact on competition in the Indian market. On the contrary, it reflects growing foreign investor interest in India’s expanding healthcare and medical technology sector, which has been witnessing rapid growth due to rising demand, technological innovation, and government focus on healthcare infrastructure.

With India emerging as a hub for affordable and innovative medical technologies, the investment by an ADIA-owned entity highlights the strategic attractiveness of Indian healthcare companies for global investors.

Implications for the Indian Market

The infusion of funds from ADIA’s investment arm is expected to:

• Strengthen Micro Life Sciences’ capital base for expansion and innovation.

• Enhance R&D capabilities, supporting the development of next-generation medical devices.

• Support greater accessibility to advanced healthcare technologies within India.

• Potentially contribute to export competitiveness, as India increasingly positions itself as a global supplier of cost-effective medical devices.

CCI’s Role in Mergers and Acquisitions

The Competition Commission of India is responsible for regulating mergers, acquisitions, and combinations to ensure they do not adversely affect market competition. By granting clearance, the CCI has signaled that this minority stake acquisition will not distort competitive dynamics in the healthcare and medical devices sector.

The approval of ADIA’s investment in Micro Life Sciences Pvt. Ltd. demonstrates India’s growing appeal for global investors in critical sectors like healthcare. As the country strengthens its medical device manufacturing ecosystem under initiatives such as Make in India and Atmanirbhar Bharat, such strategic investments are likely to further accelerate growth, innovation, and accessibility in the healthcare domain.