Everstone’s healthcare platform acquires stake in CPC Diagnostics

Private equity firm Everstone Group’s healthcare platform, Everlife has made its first investment in India by acquiring a stake in Chennai-based CPC Diagnostics. The acquisition will allow the group to include core in-vitro diagnostics (IVD) segments in its portfolio of medical devices and extend its geographical presence in India. With this strategic investment, Everlife plans to support CPC’s manufacturing and distribution capabilities within India and South-East Asia.

Everlife also has investments in Malaysia-based Chemopharm Group, a leading provider of products and solutions to laboratory, research and medical facilities in South-East Asia; DV Medika Group, manufacturer and distributor of one of Indonesia’s top brands of hospital furniture and other imported medical equipment and supplies; and Singapore-based Bio-REV Pte. Ltd., which specializes in distribution of reagents, media and consumables to the Life Sciences industry.

R Kailasnath
Managing Director,
CPC Diagnostics

“Everlife is creating a pan-South Asian and South-East Asian distribution and manufacturing platform for IVD and other laboratory/medical device segments. CPC’s portfolio already overlaps with IVD’s biggest segments, namely the immunoassay, biochemistry, and hematology segments. The investment would allow CPC to consolidate its position in these core segments while expanding territorial reach”.