CCI approves acquisition of Micro Life Sciences by South Elm Investments B.V.

"The proposed combination pertains to the proposed acquisition of a minority stake in Micro Life Sciences Private Limited (Micro Life/ Target) by South Elm Investments B.V. (SEI/ Acquirer)," the antitrust regulator said.

SEI is an investment holding company incorporated under the laws of Netherlands. The shareholders of SEI are certain private equity funds managed by Warburg Pincus LLC.

"The Target is a company incorporated in India, which is primarily engaged in the following business activities in India along with subsidiaries is engaged in manufacturing and sale of (a) medical devices in various categories such as stents, Percutaneous Transluminal Coronary Angioplasty catheters, heart valves, orthopedic implants, and endo-surgery products (such as sutures, staplers, meshes and intrauterine devices); (b) in-vitro diagnostics analyzers and reagents; and (c) over the counter (OTC) products like products COVID self-test kits and pregnancy test kits, in India.," the release said.

"The Target (through its subsidiaries) is also engaged in the B2C sale of certain specialized medical devices (such as surgical robots and ultrasonic energy devices) to hospitals and has research and development (R&D) facilities for in-vitro diagnostic, orthopedic, endo-surgery and cardiovascular solutions," it added.