Warburg Pincus Backs Appasamy, India's Top Eye Care Equipment Brand
Warburg Pincus, a prominent global growth investor, has secured a stake in Appasamy Associates Pvt. Ltd., a leading Indian manufacturer specializing in ophthalmic equipment and devices. This investment marks Warburg Pincus' significant foray into the healthcare sector in India, signaling confidence in the company's potential. Headquartered in Chennai, Appasamy stands as the largest Indian producer of ophthalmic equipment and intraocular lenses (IOLs), boasting a comprehensive range of products spanning diagnostic tools, surgical equipment, and IOLs. Leveraging its vertical integration into manufacturing and robust research and development capabilities, the company delivers products that adhere to global standards while maintaining affordability.
Positioned as the frontrunner in India's thriving ophthalmic medical devices sector, Appasamy is primed to seize opportunities stemming from both product advancements and the expansion of export markets. Senthil Kumar, the recently appointed CEO, will spearhead the company's strategic direction, backed by the unwavering support of the promoter family and in collaboration with Warburg Pincus.
Arvind Kasthuri, from Appasamy's promoter family, said, "It is a matter of great pride for us to witness the evolution of Appasamy, from being just an idea of PSN Appasamy, the founder, to becoming a leading player in the Indian and global ophthalmic space, with remarkable growth over the last 40+ years. We are thrilled to have the support of Warburg Pincus as well as a like-minded partner in Senthil Kumar as we steer Appasamy to the next level of growth".
Narendra Ostawal, Head of India Private Equity, Warburg Pincus, said, "Over 40 years, the promoters of Appasamy have built a robust enterprise that has emerged as a leading provider of affordable, high-quality offerings across the complete spectrum of ophthalmic products spanning equipment, lenses, pharmaceuticals and surgical instruments. Warburg Pincus recognizes the substantial potential within this space and holds in high regard the ethos, aspirations, and vision of the Company. The promoters and the management team have a distinguished history of successfully running businesses in the ophthalmic industry. Senthil brings great strengths in building and scaling teams and products across geographies, and we are excited to collaborate with him in Appasamy's next phase of growth".
Senthil Kumar, CEO, Appasamy, said, "We are witnessing a period of strong growth for the Indian healthcare sector, particularly ophthalmology, and we expect to see significant opportunities in both the domestic and export markets. As Appasamy progresses into this new era of expansion, we are excited to partner with Warburg Pincus given the firm's global expertise in healthcare and its long-term business-building focus in India".
Positioned as the frontrunner in India's thriving ophthalmic medical devices sector, Appasamy is primed to seize opportunities stemming from both product advancements and the expansion of export markets. Senthil Kumar, the recently appointed CEO, will spearhead the company's strategic direction, backed by the unwavering support of the promoter family and in collaboration with Warburg Pincus.
Arvind Kasthuri, from Appasamy's promoter family, said, "It is a matter of great pride for us to witness the evolution of Appasamy, from being just an idea of PSN Appasamy, the founder, to becoming a leading player in the Indian and global ophthalmic space, with remarkable growth over the last 40+ years. We are thrilled to have the support of Warburg Pincus as well as a like-minded partner in Senthil Kumar as we steer Appasamy to the next level of growth".
Narendra Ostawal, Head of India Private Equity, Warburg Pincus, said, "Over 40 years, the promoters of Appasamy have built a robust enterprise that has emerged as a leading provider of affordable, high-quality offerings across the complete spectrum of ophthalmic products spanning equipment, lenses, pharmaceuticals and surgical instruments. Warburg Pincus recognizes the substantial potential within this space and holds in high regard the ethos, aspirations, and vision of the Company. The promoters and the management team have a distinguished history of successfully running businesses in the ophthalmic industry. Senthil brings great strengths in building and scaling teams and products across geographies, and we are excited to collaborate with him in Appasamy's next phase of growth".
Senthil Kumar, CEO, Appasamy, said, "We are witnessing a period of strong growth for the Indian healthcare sector, particularly ophthalmology, and we expect to see significant opportunities in both the domestic and export markets. As Appasamy progresses into this new era of expansion, we are excited to partner with Warburg Pincus given the firm's global expertise in healthcare and its long-term business-building focus in India".
