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Orthopedic and Dental Industry News Complete Archive »

Report: Medtronic Weighing Indian Investment BY LAUREN UZDIENSKI, JULY 24, 2012

MedCity News reported that Medtronic is reportedly in talks to make an investment in Chennai, India-based Trivitron Healthcare. The report follows last year's comments from Medtronic CEO Omar Ishrak that India was Medtronic's "biggest hole" and a geography in which the company was actively trying to invest.

Trivitron Healthcare calls itself India's largest medtech company and has operations in a number of segments, including implantable medical devices, imaging and diagnostics, as well as consultancy services for hospitals, nursing homes, labs and research centers. Annual revenues total about $90 million. Trivitron has been attempting to raise $100 million to finance expansion and offer partial exits to its private equity investors, HSBC Private Equity (now Headland Capital Partners) and ePlanet Ventures.

Medtronic offered no comment on the potential deal, telling MedCity News that "Medtronic is always interested in discussing with other companies and see if there is a strategic fit. At this stage, we cannot provide further comments."

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