Everstone to merge two healthcare companies, list combined firm - The Economic Times

Everstone Capital's Healthcare Merger

Everstone Capital, a Pan-Asia private equity firm, is merging two of its healthcare companies: Translumina Therapeutics, a major Indian cardiac stent maker, and Everlife Holdings, a Singapore-based medical device distributor. The combined entity is projected to be valued at $1 billion.

Key Companies Involved

• Translumina Therapeutics: A leading Indian cardiac stent manufacturer with facilities in Germany and India, holding an 18-20% share of the Indian market.
• Everlife Holdings: A Singapore-based distributor of medical devices, laboratory equipment, and supplies, partnering with major companies like Abbott and Siemens.

Everstone holds a 60% stake in Translumina and a 70% stake in Everlife. The merger aims to create a larger entity suitable for a future initial public offering (IPO).

Pre-IPO Activities

A pre-IPO fundraising process has been initiated, with feelers sent to domestic pre-IPO funds. While the combined company's valuation is estimated at $1 billion, this figure remains unconfirmed.

Previous Transactions

Everstone previously acquired a controlling stake in Translumina in 2019 and had explored selling Everlife for over $500 million in 2022, without success. They also sold their majority stake in Sahyadri Hospitals in 2022.