Singaporean company Temasek has become a minority investor in Romsons Group as part of a strategic private equity deal. The goal of this transaction is to finance the medical device manufacturer's expansion in India and abroad, as well as support potential acquisitions.
The partnership aims to foster Romsons' growth in India and internationally while strengthening the company's product portfolio, manufacturing capabilities, technologies, and organizational processes.
This deal marks a new chapter in Romsons' seventy-year history. The company noted that Temasek's global experience and long-term investment perspective will complement Romsons' operational capabilities and its understanding of the Indian healthcare market.
Under this collaboration, Romsons and Temasek will evaluate strategic partnerships and acquisitions in India and overseas if they align with the company's objectives. The company stated that the primary focus will remain on strengthening core business and investing in products, manufacturing, technology, and personnel. Strengthening corporate governance and institutional processes will also be planned as operations scale up.
Romsons also announced that it will consider an Initial Public Offering (IPO) at an appropriate time, which will depend on the business development trajectory and current market conditions.
Kishor Narain Khanna, Managing Director of Romsons Group, stated that 'the welcome of Temasek as a long-term strategic partner marks a significant milestone in Romsons' seventy-year journey.' He added that this partnership will enable the company to expand with greater scale and opportunities while maintaining a focus on products, manufacturing, technology, and people.
Sanjiv Harbhanda, CFO of Romsons Group, emphasized that the investment is an important step in the company's institutional evolution. He noted that the company will focus on disciplined capital allocation and strengthening financial and management processes as it scales its business.