Integris Health raises primary capital ahead of planned IPO

Medical devices company Integris Health has raised primary capital from a consortium of prominent investors, including Mukul Agarwal and India SME Fund. The company is backed by Everstone Capital.

The proceeds will be used for expansion into multiple therapeutic areas, such as in-vitro diagnostics and laboratory solutions, through strategic acquisitions and in-house product development initiatives, Integris Health said in a press release.

In 2024, the company appointed Probir Das as CEO to lead its growth strategy. The company intends to list publicly by the end of 2025 and has commenced IPO preparations.

Founded in 2008 by Gurmit Singh Chugh, Integris Health is a medical devices company with a presence in interventional cardiology, cardiovascular, and vascular surgery therapy areas. It is a fully integrated company with an end-to-end presence in product development, manufacturing, and sales and distribution, with manufacturing facilities in Germany, the Netherlands, and India, and a sales presence in over 50 markets.

Integris Health says that over the years, it has created strategic partnerships with leading hospitals, engineering institutes, global med-tech devices companies, and interventional cardiologists. It combines the best of German engineering, intellectual property, and high-quality standards with India's entrepreneurial culture and strong capabilities in manufacturing innovative products at affordable prices.

Integris Health aims to empower the Indian med-tech devices industry by leveraging its cutting-edge R&D, strategic partnerships, robust distribution capabilities, and the cost-efficiency of Indian manufacturing.