Appasamy Associates, a leading Indian manufacturer of ophthalmic equipment and devices in India, has announced that US-headquartered Warburg Pincus, a leading global growth investor has acquired a stake in the company. This is the largest investment in the healthcare sector by the firm in India.

Based in Chennai, Appasamy is the largest Indian manufacturer of ophthalmic equipment and intraocular lenses (IOLs). The company is present across the entire value chain of ophthalmic devices, diagnostic, surgical equipment, and IOLs. Its vertical integration into manufacturing and its strong R&D capabilities allow the company to offer products that meet global standards at comparatively affordable prices.

Appasamy will continue to be led by the recently appointed CEO, Senthil Kumar who will drive the business going forward with the support of the promoter family and in partnership with Warburg Pincus. 

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' investments in the Indian healthcare sector include Meril Life Sciences, MedPlus, Laurus Labs, and Metropolis Healthcare.