Private investment firm Kedaara Capital has made an investment of $200 million in Tynor Orthotics Private Limited, based in Mohali. Tynor Orthotics specializes in the manufacturing of orthopedic devices, mobility aids, and rehabilitation products.
The company did not disclose the size of the stake that Kedaara Capital will acquire as part of this deal. Founded in 1993, Tynor's products are distributed through 300,000 retail outlets and 8,000 hospitals in 60 countries worldwide. The company operates three manufacturing facilities covering 6.5 lakh square feet.
According to an official statement, Kedaara will collaborate with Tynor's promoters, PJ Singh and AJ Singh, the company's professional management team, and long-time strategic partner Thuasne. The goal of this partnership is to create a platform focused on orthopedic wellness. The collaboration will concentrate on expanding Tynor's presence in both Indian and international markets, as well as further increasing the company's production capacity.
PJ Singh and A J Singh, Tynor's promoters, stated that Tynor's aspiration to become a leader of the Global South and an indispensable supply chain partner for the Global North is now becoming a reality thanks to the partnership with Kedaara. They noted that Kedaara has a rich history of outstanding results and a team of highly qualified and motivated operational partners.
Sunish Sharma, founder and managing partner of Kedaara Capital, emphasized that India's medical device sector is among the fastest-growing globally, and Tynor represents a rare opportunity to partner with a clear category leader in orthopedic devices and rehabilitation.
Kedaara Capital currently manages assets worth over $6 billion through investments across various sectors, including pharmaceuticals, healthcare, financial services, consumer markets, and technology services.
Elizabeth Ducotte, Chair of Thuasne Group, reported that the partnership with Tynor began more than fifteen years ago. This collaboration was driven by a shared belief in the potential of the Indian market and a common goal of making quality orthopedic solutions accessible to more patients. She added that since then, Tynor has transformed into a distinguished and recognized leader in India.
Thuasne, an international family group in healthcare specializing in orthopedics and medical compression, has been a strategic partner to Tynor since 2010.