Versailles based Midmark Corp, has announced its first global partnership with Mumbai based medical equipment maker Janak Healthcare Private Limited.
Midmark, has bought a minority equity position in Janak, which will deploy the funds in extending its product line. Both Midmark and Janak are national, family-owned corporations that manufacture products for the medical furniture market segment.
Janak is a leading manufacturer of hospital beds and medical furniture, such as examination tables used by doctors and veterinarians, and sterilizers used in dentists' offices.
"Healthcare in India is currently undergoing rapid transformation, leading to a growing demand for quality healthcare services,” said Anne Eiting Klamar M.D., Midmark president and CEO. The company employs more than 700 people in Versailles and 1,100 people worldwide.
“This will give Janak a larger product basket to offer to its Indian clients as well as for exports and contribute its bit to the Indian economy”, said Apurva Mehta, Director of Janak Healthcare Private Limited. Janak was established in the year 1951, known as Janak Manufacturing Works which later became Metalbeds India in the year 1979 and then finally renamed as, Janak Healthcare Pvt. Ltd.
M/s Majmudar & Co and M/s Malvi Ranchhodas & Co were the advisors to the transaction.