ADIA Invests in Meril: A $200 Million Leap in Medical Innovation

Abu Dhabi's sovereign wealth fund, ADIA, is acquiring a 3% stake in Micro Life Sciences Pvt Ltd (Meril) for $200 million. The investment values Meril at $6.6 billion, supporting its global expansion in medical technology. The acquisition does not impact competition in Indian markets, according to ADIA.

Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the United Arab Emirates capital, has initiated the acquisition of a 3% stake in the medical devices firm Micro Life Sciences Pvt Ltd (Meril) for a significant $200 million investment. The move highlights ADIA's confidence in Meril's innovative medical technologies.

The acquisition is executed through ADIA's affiliate, Platinum Jasmine A 2018 Trust, acting under the trustee Platinum Owl C 2018 RSC Ltd. This transaction sees the formulaic expansion of ADIA's global investment portfolio in healthcare and marks Meril's valuation at an impressive $6.6 billion enterprise value.

Meril, founded by the Bilakhia Group and based in Gujarat, stands as a pioneer in the medical technology field, known for its work across multiple specialisations such as cardiovascular and surgical robotics. The deal is not expected to impact market competition in India, further solidifying Meril's mission to enhance healthcare solutions worldwide as expressed by Sanjeev Bhatt, the firm's Senior Vice President of Strategy.

(With inputs from agencies.)