Chennai-based medical technology company Cura Healthcare Pvt. Ltd, which is focused on the diagnostic imaging space, has entered ultrasound equipment devices business through its acquisition of another city-based firm DE Healthcare (formerly Delta Equipments), for an undisclosed amount, as per a company statement.
VCCircle had first reported last month that Cura has bought a company which is into ultrasound related segment.
This is the second acquisition by Cura in three months. In May it had acquired Pune-based Concept Integrations, which makes patient monitoring systems, diagnostic tele-ECG systems and is into tele-medicine and hospital management solutions.
M Balasubramaniam, CEO, Cura Healthcare, said, “In six months, we will have a portfolio of products which will cater to the low- and mid-end segment of the market. We are looking at four to five acquisitions by the end of this year of which two have already taken place. Besides, we would be looking at another three this year and then we will start consolidating.”
Post the acquisition, DE Healthcare will focus on the sales of its ultra sound equipment under Cura’s banner.
He added that ultrasound has grown over the last decade to a ubiquitous technology and has wide applications across all clinical specialties including point of care. “The market is growing at a strong double digit and will soon become a Rs 1,000 crore opportunity. With the acquisition of DE Healthcare with its strong domain expertise, service excellence and customer base, Cura will be well positioned to address the fast growing ultrasound market pan India,” he said.
Incepted in 1996, DE Healthcare has been catering to imaging diagnostic space through diagnostic ultrasound equipment. It commenced sales of its key product Sonoscape in 2008 and currently boasts of installation base of over 600 color doppler/ultrasound systems in South India.
It has also announced the launch of two new ultrasound equipment, Vinno and eZono.
Balaji S, director, DE Healthcare, said, “Through this acquisition, we will be focusing on expanding our business portfolio pan India through the extensive sales network of Cura.”
Cura is currently working on getting certification for its indigenously manufactured patented digital radiography systems which it will be launching soon. The firm has attracted around $15 million in funding from Peepul Capital, which has committed to invest another $5-6 million in six months. With this funding Cura is actively expanding its product portfolio in adjacent spaces and is pursuing an inorganic growth agenda.
(Edited by Joby Puthuparampil Johnson)