Kedaara Capital has made a $200 million strategic investment in Tynor Orthotics, backing the Indian orthopedic supports and rehabilitation company as it expands domestically and across international markets.
Founded in 1993, Tynor has developed a portfolio spanning orthopedic supports, mobility aids, rehabilitation products and sports performance solutions. The company describes itself as India’s No. 1 doctor-recommended brand in its category.
Tynor’s distribution network now reaches more than 300,000 retail outlets and 8,000 hospitals across 60 countries, while its products have served more than 100 million people.
The company also operates three manufacturing facilities encompassing approximately 650,000 square feet.
Kedaara plans to work with Tynor promoters Dr. P.J. Singh and A.J. Singh, the company’s management team, and longtime strategic partner Thuasne to build a larger orthopedics-focused wellness platform.
The strategy includes expanding Tynor’s reach across India, increasing its international presence and continuing investment in manufacturing capacity and operating efficiency.
Thuasne has been a strategic partner of Tynor since 2010, providing international orthopedics expertise as the Indian company has grown.
Kedaara sees additional growth potential from Tynor’s relationships with doctors, extensive distribution network, research and development capabilities, and lean manufacturing operations.
The investment gives Tynor another institutional partner after Lighthouse Funds, which worked with the company for approximately eight years.
O3 Capital served as exclusive financial advisor on the transaction.
Kedaara manages more than $6 billion and invests across healthcare and pharmaceuticals, financial services, consumer businesses, and technology services.
KEY QUOTES:
“India’s medical devices sector is among the fastest-growing in the world, and Tynor represents a rare opportunity to partner with a clear category leader in orthopaedic supports and rehabilitation.”
Sunish Sharma, Founder And Managing Partner Of Kedaara Capital
“We look forward to closely working alongside the promoters, management team, and Thuasne, and leveraging Kedaara’s operating expertise to help scale Tynor into a global orthotics champion.”
Sumit Gupta, Managing Director, And Nishant Naveen, Principal And Co-Leads Of Healthcare And Pharma At Kedaara Capital
