Ascent Capital investing $14.7M in Skanray Technologies
Private equity firm Ascent Capital is investing up to Rs 100 crore ($14.75 million) in Mysore-based medical device company Skanray Technologies in various tranches, sources privy to the development told VCCircle.
Skanray, which manufactures radiology and critical care products, had acquired Larsen & Toubro’s (L&T)’s medical equipment business last year. The company had been in talks with various private equity players to raise funds for inorganic growth and acquire key targets in Europe as well as other global locations. It is also planning to set up units in Brazil and West Asia.
Email queries sent to spokespersons of both Ascent...
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