Everstone Group buys into CPC diagnostics

Chennai: Everstone Group via its healthcare platform Everlife has picked up an undisclosed stake in Chennai based CPC Diagnostics, to include core in-vitro diagnostics (IVD) segments in its portfolio of medical devices.

With this investment, Everlife plans to support CPC’s manufacturing and distribution capabilities within India and South-East Asia, to become the leading IVD distributor in India.

Arjun Oberoi, vice chairman, Everlife and MD, Everstone Capital said, “Its strong manufacturing and R&D capabilities make them an ideal partner for us and we will help them expand in markets beyond India.”

Commenting on the investment, R Kailasnath, managing director, CPC Diagnostics said: “Everlife is creating a pan South Asian and South-East Asian distribution and manufacturing platform for IVD and other laboratory/medical device segments and we are looking forward to contributing to this objective.”

CPC Diagnostics is a medical devices manufacturer and distributor with presence across India, Sri Lanka and Bangladesh, and exports to countries in Middle East and Europe. It supplies products and services to research and clinical laboratories.