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LifeCell raises Rs 255 Cr from OrbiMed Asia Partners IV
21 September 2021 | News
Use of proceeds to fuel its growth plans across divisions and foray into adjacent categories
Image credit: shutterstock
Established in Chennai, LifeCell International has raised Rs 225 crore from OrbiMed Asia Partners IV, a leading healthcare investment firm. As part of this round, the existing founders of LifeCell shall also participate by investing Rs 30 crore.
Mayur Abhaya, MD, LifeCell International, noted, "The funds will help accelerate this agenda and further strengthen our market position."
Dr Sunny Sharma, Senior MD, OrbiMed Asia, will join the Board of LifeCell upon the closure of this transaction. Dr Sharma said, “LifeCell has built a trusted healthcare brand in maternal and newborn health through innovation and service. We are very excited to partner with Mayur and his team in the next stage of LifeCell’s growth."
Ernst & Young acted as the investment banking advisor to LifeCell and LKS acted as the legal advisor.
