Motilal Oswal Alternates invests USD 72 mn in Sensa Core Medical Instrumentation,
taking a significant minority stake in an innovation-drivenmedical devices’ company
Mumbai,December 22, 2025: Motilal Oswal Alternates is pleased to announce a significantminority investment of USD 72 million in Sensa Core, an innovation drivenmedical devices’ company focused on advancing healthcare technology in India.This partnership underscores our commitment to support indigenous healthcaresolutions that promise to transform patient outcomes.
Founded in Hyderabad in 2006, SensaCore is engaged in design (IP-driven), development, manufacturing anddistribution of specialized in-vitro diagnostic devices. Started as a fullybootstrapped venture, the Company has evolved into a market leader in ElectrolyteAnalysers, achieving wide adoption across more than 40,000 hospitals/diagnosticlabs in India and exports to over 78 countries. Sensa Core is also one of theleading Indian players in Glucometers, Haemoglobin meters and has recentlyforayed in Arterial Blood gas Analysers. The Company operates a dedicated manufacturingfacility in Hyderabad’s Export Promotion Industrial Park, Pashamylaram and willbe commissioning a new manufacturing facility in Medical Device Park,Sultanpur, Hyderabad to augment capacity & build capability for newproducts.
The Company is founded by Dr. RaviKumar Meruva, Ph.D., and a technocrat entrepreneur with deep domain expertiseand 30+ years of experience in electrochemistry, system design and appliedmedical technology. The investment will enable Sensa Core to accelerateproduct development and expand its footprint globally, further strengtheningits position as one of the leading players in the IVD segment.
Commenting on this announcement,Mr. Rohit Mantri, Managing Director andCo-Head of Private Equity at Motilal Oswal Alternates said, “India imports over 75% of its medical devices, with annualimports exceeding USD 8.5 billion. We firmly believe in fostering indigenousdevelopment and manufacturing in India for local needs and for ‘Make in India’exports to the world . Sensa Core exemplifies India’s new era of homegrownmedical device champions, driven by rising demand for high-quality, affordableand globally competitive products. Under Dr. Meruva’s leadership, the Companyhas been built on deep technical expertise, a strong R&D mindset and aninnovation culture to turn scientific insights into commercial successes. Withthis investment, Motilal Oswal Alternates continues to back high-quality companiesin the life sciences’ space, especially R&D-led medical device innovatorsthat are set to lead different categories worldwide.”
Dr.Ravi Kumar Meruva, Chairman & Founder, and now Managing Director of SensaCore said, “We are excited to enter the next phase of product innovation – advancingmanufacturing automation while driving the conceptualization and execution of adiverse portfolio of point-of-care products. Built on deep expertise inelectrochemistry and bio-analytical transducers, Sensa Core brings togetherindustrial design, mechanical, electrical, electronics, software, and chemistrydisciplines under one roof to create integrated, high-quality solutions. With a strong focus on expandingaccess to healthcare, we believe affordability can be achieved through localmanufacturing and large-scale production. The investment from Motilal OswalAlternates reinforces confidence in our vision. Their commitment to supportingIndia-first companies with global ambition aligns strongly with our mission,and this partnership positions Sensa Core to evolve into a global institutionof excellence.”
Sensa Core was advised by Veda CorporateAdvisors on the transaction.
About MO Alternate Investment Advisors
MO AlternateInvestment Advisors Private Limited (“Motilal Oswal Alternates”) is asubsidiary of Motilal Oswal Financial Services Limited (MOFSL), a diversifiedfinancial services group with businesses in Securities, Asset Management,Housing Finance, Private Equity and Investment Banking. Motilal OswalAlternates is managing both private equity and real estate funds andcumulatively manages an AUM of ~USD 3.1 bn between the two asset classes. Theprivate equity vertical focuses on providing growth capital to mid-marketcompanies across its preferred sectors of consumer, financial services, lifesciences and niche manufacturing.
For further details, contact:
|
Rohini Kute
Motilal Oswal Financial Services Limited
Phone: +91-22-39822340
Mobile: +91-98201 96838 |
Dr. Ravi Kumar Meruva
Sensa Core Medical Instrumentation Private Limited
Email: ravi.meruva@sensacore.com |