Latest news with #iCaltech
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Business Standard
7 days ago
- Business
- Business Standard
Cipla buys 20% stake in iCaltech to broaden respiratory device portfolio
Cipla on Monday announced that it has entered into definitive agreements to acquire a 20 per cent stake in Bengaluru-based iCaltech Innovations, through an investment of approximately ₹5 crore in optionally convertible preference shares and one equity share. The transaction is expected to be completed within a month, subject to customary closing conditions. The investment aligns with Cipla's strategy to strengthen its presence in the respiratory care space, particularly in the diagnostics segment. iCaltech, an ISO 13485 certified medical device company, is engaged in the design, development, manufacturing, and commercialisation of diagnostic products, with a core focus on respiratory applications. Achin Gupta, Global COO, Cipla, said, 'Our decision to invest in iCaltech reflects Cipla's commitment to advancing respiratory diagnostics. As lung leaders with the aim to reduce the existing gap in the current ecosystem, our strategic funding will enable iCaltech to further expand and develop innovative devices.' Cipla said the deal would enable it to partner with iCaltech in developing integrated healthcare solutions by leveraging synergies between pharmaceuticals and medical device technologies. Under the terms, iCaltech will continue to operate independently, while Cipla will hold 20 per cent voting rights post-investment. iCaltech recorded a revenue of ₹6.7 crore in FY25, up from ₹4.19 crore in FY24 and ₹1.28 crore in FY23. The acquisition is part of Cipla's broader focus on expanding its devices, diagnostics, and digital offerings, especially in its core respiratory portfolio.
News18
7 days ago
- Business
- News18
Cipla signs pact to invest in iCaltech Innovations
Agency: PTI New Delhi, Jul 21 (PTI) Drug firm Cipla Ltd on Monday said it has inked definitive agreements to invest in iCaltech Innovations. The Mumbai-based company, however, did not share financial details. iCaltech is engaged in the design, development, and commercialisation of diagnostic medical equipment and apparatus, with a core focus on respiratory care. Achin Gupta, Global COO, Cipla Limited, said, 'As lung leaders, our decision to invest in iCaltech reflects Cipla's commitment to advancing respiratory diagnostics." To reduce the existing gap in the current ecosystem, the strategic funding will enable iCaltech to further expand and develop innovative devices, he added. PTI MSS MR MR Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
