Everlife-CPC Diagnostics Enters POCT Market in India With Acquisition of Boditech Med Portfolio from Weldon Biotech
Everlife-CPC Diagnostics Enters POCT Market in India With Acquisition of Boditech Med Portfolio from Weldon Biotech
7i Capital Advisors acted as the exclusive sell-side advisor to Weldon Biotech on this transaction.
[Chennai, April 2022]: CPC Diagnostics Pvt. Ltd. (“CPC”), a leading provider of Clinical Diagnostic products and services in India, Sri Lanka, Nepal and Bangladesh, and the Indian subsidiary of Everlife, has announced the completion of the business transfer of i-chroma brand business from Weldon Biotech India Pvt. Ltd. Under the agreement, CPC will take over the distribution rights of the i-chroma brand of products, which are Point-of-Care Testing (“POCT”) products manufactured by Boditech Med Inc Korea. CPC will take over the existing installations and onboard the team to ensure continuity of after sales service and consumables from Weldon Biotech. This transaction follows on an earlier collaboration agreement signed between Everlife and Boditech in November 2021 to introduce Boditech’s EZ-POC brand to India.
While CPC has already established itself as a major player in laboratory-based clinical diagnostics, the i-chroma and Vet Chroma business provides CPC with accelerated access to a growing POCT market in India, which according to internal estimates is one of the fastest growing IVD segments with a growth rate of more than 20%. Boditech’s i-chroma range of products are especially suited to the Indian market, where a wide and affordable range of test parameters and analyzers can be provided depending on individual customer’s test requirements. Furthermore, the fast turnaround and simple and convenient sample collection could improve access particularly for laboratories in distant areas.
About CPC Diagnostics
CPC Diagnostics is a Chennai based manufacturer and marketer of in-vitro diagnostic products. CPC has over three decades of experience in the industry and is well known for its pioneering efforts in the introduction of new products and technologies. With dedicated marketing, sales and service teams, CPC operates in India, Sri Lanka, Nepal and Bangladesh. For more information, please visit www.cpcdiagnostics.in or visit them on LinkedIn.
About Everlife
Everlife is one of the leading providers of diagnostic products and solutions to clinical and scientific laboratories in South and South East Asia. By combining our technical expertise with a deep understanding of Asia and a passionate and results-driven approach to business, we aim to improve outcomes for our communities and to improve business performance for customers and principals. The Group represents over 250 principals and a team of almost 1000 employees that operate across 7 countries. Everlife is part of the Everstone Group and Cure Capital is a minority investor. To learn more, visit www.everlifeasia.com or visit us on LinkedIn.
About 7i Capital Advisors
7i is a leading Indian investment bank focused on cross border M&A transaction advisory space. In a short time, 7i has been able to become the advisor of choice for Indian mid-market corporates for its private equity fund raising as well as cross-border strategic partnership needs. 7i has developed a strong international network of investment advisory firms with presence across the globe including Japan, USA, Europe, South Korea and Latin America. 7i has presence in diverse verticals including healthcare, manufacturing, consumer and technology. In vitro diagnostics and medical technology is one of the key areas of expertise for 7i having completed multiple deals in this space, the latest being this strategic acquisition of the Boditech business from Weldon by Everlife-CPC. For more information, please visit www.7icapital.com.